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Urea Fertilizers Industry Research Report 2023

August 2023 | 115 pages | ID: UFDD8E8CDDEBEN
APO Research

US$ 2,950.00

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This report aims to provide a comprehensive presentation of the global market for Urea Fertilizers, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Urea Fertilizers.

The Urea Fertilizers market size, estimations, and forecasts are provided in terms of output/shipments (MT) and revenue ($ millions), considering 2022 as the base year, with history and forecast data for the period from 2018 to 2029. This report segments the global Urea Fertilizers market comprehensively. Regional market sizes, concerning products by types, by application, and by players, are also provided. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.

For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.

The report will help the Urea Fertilizers manufacturers, new entrants, and industry chain related companies in this market with information on the revenues, production, and average price for the overall market and the sub-segments across the different segments, by company, product type, application, and regions.

Key Companies & Market Share Insights

In this section, the readers will gain an understanding of the key players competing. This report has studied the key growth strategies, such as innovative trends and developments, intensification of product portfolio, mergers and acquisitions, collaborations, new product innovation, and geographical expansion, undertaken by these participants to maintain their presence. Apart from business strategies, the study includes current developments and key financials. The readers will also get access to the data related to global revenue, price, and sales by manufacturers for the period 2018-2023. This all-inclusive report will certainly serve the clients to stay updated and make effective decisions in their businesses. Some of the prominent players reviewed in the research report include:
  • QAFCO
  • CF Industries
  • SABIC
  • Yangmei Chemical
  • Yara
  • Nutrien
  • Koch Fertilizer
  • EuroChem
  • Shanxi tianze coal-chemical
  • Rui Xing Group
  • China XLX Fertiliser
  • Shandong Lianmeng Chemical
  • Hualu-hengsheng
  • Dongguang Chemical
  • Sichuan Lutianhua
  • CVR Partners, LP
  • Hubei Yihua Chemical Industry
  • Luxi Chemical Group
  • Coromandel International Ltd.
  • Sinofert Holdings Limited.
  • Bunge Limited
  • OSTCHEM (Group DF)
  • OCI Nitrogen
Product Type Insights

Global markets are presented by Urea Fertilizers type, along with growth forecasts through 2029. Estimates on production and value are based on the price in the supply chain at which the Urea Fertilizers are procured by the manufacturers.

This report has studied every segment and provided the market size using historical data. They have also talked about the growth opportunities that the segment may pose in the future. This study bestows production and revenue data by type, and during the historical period (2018-2023) and forecast period (2024-2029).

Urea Fertilizers segment by Type
  • Gas based Urea Fertilizers
  • Coal based Urea Fertilizers
  • Other
Application Insights

This report has provided the market size (production and revenue data) by application, during the historical period (2018-2023) and forecast period (2024-2029).

This report also outlines the market trends of each segment and consumer behaviors impacting the Urea Fertilizers market and what implications these may have on the industry's future. This report can help to understand the relevant market and consumer trends that are driving the Urea Fertilizers market.

Urea Fertilizers segment by Application
  • Agricultural
  • Industrial
Regional Outlook

This section of the report provides key insights regarding various regions and the key players operating in each region. Economic, social, environmental, technological, and political factors have been taken into consideration while assessing the growth of the particular region/country. The readers will also get their hands on the revenue and sales data of each region and country for the period 2018-2029.

The market has been segmented into various major geographies, including North America, Europe, Asia-Pacific, South America. Detailed analysis of major countries such as the USA, Germany, the U.K., Italy, France, China, Japan, South Korea, Southeast Asia, and India will be covered within the regional segment. For market estimates, data are going to be provided for 2022 because of the base year, with estimates for 2023 and forecast value for 2029.
  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Russia
  • Asia-Pacific
    • China
    • Japan
    • South Korea
    • India
    • Australia
    • China Taiwan
    • Indonesia
    • Thailand
    • Malaysia
  • Latin America
    • Mexico
    • Brazil
    • Argentina
Key Drivers & Barriers

High-impact rendering factors and drivers have been studied in this report to aid the readers to understand the general development. Moreover, the report includes restraints and challenges that may act as stumbling blocks on the way of the players. This will assist the users to be attentive and make informed decisions related to business. Specialists have also laid their focus on the upcoming business prospects.

COVID-19 and Russia-Ukraine War Influence Analysis

The readers in the section will understand how the Urea Fertilizers market scenario changed across the globe during the pandemic, post-pandemic and Russia-Ukraine War. The study is done keeping in view the changes in aspects such as demand, consumption, transportation, consumer behavior, supply chain management, export and import, and production. The industry experts have also highlighted the key factors that will help create opportunities for players and stabilize the overall industry in the years to come.

Reasons to Buy This Report

This report will help the readers to understand the competition within the industries and strategies for the competitive environment to enhance the potential profit. The report also focuses on the competitive landscape of the global Urea Fertilizers market, and introduces in detail the market share, industry ranking, competitor ecosystem, market performance, new product development, operation situation, expansion, and acquisition. etc. of the main players, which helps the readers to identify the main competitors and deeply understand the competition pattern of the market.

This report will help stakeholders to understand the global industry status and trends of Urea Fertilizers and provides them with information on key market drivers, restraints, challenges, and opportunities.

This report will help stakeholders to understand competitors better and gain more insights to strengthen their position in their businesses. The competitive landscape section includes the market share and rank (in volume and value), competitor ecosystem, new product development, expansion, and acquisition.

This report stays updated with novel technology integration, features, and the latest developments in the market

This report helps stakeholders to understand the COVID-19 and Russia-Ukraine War Influence on the Urea Fertilizers industry.

This report helps stakeholders to gain insights into which regions to target globally

This report helps stakeholders to gain insights into the end-user perception concerning the adoption of Urea Fertilizers.

This report helps stakeholders to identify some of the key players in the market and understand their valuable contribution.

Core Chapters

Chapter 1: Research objectives, research methods, data sources, data cross-validation;

Chapter 2: Introduces the report scope of the report, executive summary of different market segments (by region, product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.

Chapter 3: Detailed analysis of Urea Fertilizers manufacturers competitive landscape, price, production and value market share, latest development plan, merger, and acquisition information, etc.

Chapter 4: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product production/output, value, price, gross margin, product introduction, recent development, etc.

Chapter 5: Production/output, value of Urea Fertilizers by region/country. It provides a quantitative analysis of the market size and development potential of each region in the next six years.

Chapter 6: Consumption of Urea Fertilizers in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and production of each country in the world.

Chapter 7: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.

Chapter 8: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.

Chapter 9: Analysis of industrial chain, including the upstream and downstream of the industry.

Chapter 10: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.

Chapter 11: The main points and conclusions of the report.
1 PREFACE

1.1 Scope of Report
1.2 Reasons for Doing This Study
1.3 Research Methodology
1.4 Research Process
1.5 Data Source
  1.5.1 Secondary Sources
  1.5.2 Primary Sources

2 MARKET OVERVIEW

2.1 Product Definition
2.2 Urea Fertilizers by Type
  2.2.1 Market Value Comparison by Type (2018 VS 2022 VS 2029) & (US$ Million)
  1.2.2 Gas based Urea Fertilizers
  1.2.3 Coal based Urea Fertilizers
  1.2.4 Other
2.3 Urea Fertilizers by Application
  2.3.1 Market Value Comparison by Application (2018 VS 2022 VS 2029) & (US$ Million)
  2.3.2 Agricultural
  2.3.3 Industrial
2.4 Global Market Growth Prospects
  2.4.1 Global Urea Fertilizers Production Value Estimates and Forecasts (2018-2029)
  2.4.2 Global Urea Fertilizers Production Capacity Estimates and Forecasts (2018-2029)
  2.4.3 Global Urea Fertilizers Production Estimates and Forecasts (2018-2029)
  2.4.4 Global Urea Fertilizers Market Average Price (2018-2029)

3 MARKET COMPETITIVE LANDSCAPE BY MANUFACTURERS

3.1 Global Urea Fertilizers Production by Manufacturers (2018-2023)
3.2 Global Urea Fertilizers Production Value by Manufacturers (2018-2023)
3.3 Global Urea Fertilizers Average Price by Manufacturers (2018-2023)
3.4 Global Urea Fertilizers Industry Manufacturers Ranking, 2021 VS 2022 VS 2023
3.5 Global Urea Fertilizers Key Manufacturers, Manufacturing Sites & Headquarters
3.6 Global Urea Fertilizers Manufacturers, Product Type & Application
3.7 Global Urea Fertilizers Manufacturers, Date of Enter into This Industry
3.8 Global Urea Fertilizers Market CR5 and HHI
3.9 Global Manufacturers Mergers & Acquisition

4 MANUFACTURERS PROFILED

4.1 QAFCO
  4.1.1 QAFCO Urea Fertilizers Company Information
  4.1.2 QAFCO Urea Fertilizers Business Overview
  4.1.3 QAFCO Urea Fertilizers Production Capacity, Value and Gross Margin (2018-2023)
  4.1.4 QAFCO Product Portfolio
  4.1.5 QAFCO Recent Developments
4.2 CF Industries
  4.2.1 CF Industries Urea Fertilizers Company Information
  4.2.2 CF Industries Urea Fertilizers Business Overview
  4.2.3 CF Industries Urea Fertilizers Production Capacity, Value and Gross Margin (2018-2023)
  4.2.4 CF Industries Product Portfolio
  4.2.5 CF Industries Recent Developments
4.3 SABIC
  4.3.1 SABIC Urea Fertilizers Company Information
  4.3.2 SABIC Urea Fertilizers Business Overview
  4.3.3 SABIC Urea Fertilizers Production Capacity, Value and Gross Margin (2018-2023)
  4.3.4 SABIC Product Portfolio
  4.3.5 SABIC Recent Developments
4.4 Yangmei Chemical
  4.4.1 Yangmei Chemical Urea Fertilizers Company Information
  4.4.2 Yangmei Chemical Urea Fertilizers Business Overview
  4.4.3 Yangmei Chemical Urea Fertilizers Production Capacity, Value and Gross Margin (2018-2023)
  4.4.4 Yangmei Chemical Product Portfolio
  4.4.5 Yangmei Chemical Recent Developments
4.5 Yara
  4.5.1 Yara Urea Fertilizers Company Information
  4.5.2 Yara Urea Fertilizers Business Overview
  4.5.3 Yara Urea Fertilizers Production Capacity, Value and Gross Margin (2018-2023)
  4.5.4 Yara Product Portfolio
  4.5.5 Yara Recent Developments
4.6 Nutrien
  4.6.1 Nutrien Urea Fertilizers Company Information
  4.6.2 Nutrien Urea Fertilizers Business Overview
  4.6.3 Nutrien Urea Fertilizers Production Capacity, Value and Gross Margin (2018-2023)
  4.6.4 Nutrien Product Portfolio
  4.6.5 Nutrien Recent Developments
4.7 Koch Fertilizer
  4.7.1 Koch Fertilizer Urea Fertilizers Company Information
  4.7.2 Koch Fertilizer Urea Fertilizers Business Overview
  4.7.3 Koch Fertilizer Urea Fertilizers Production Capacity, Value and Gross Margin (2018-2023)
  4.7.4 Koch Fertilizer Product Portfolio
  4.7.5 Koch Fertilizer Recent Developments
4.8 EuroChem
  4.8.1 EuroChem Urea Fertilizers Company Information
  4.8.2 EuroChem Urea Fertilizers Business Overview
  4.8.3 EuroChem Urea Fertilizers Production Capacity, Value and Gross Margin (2018-2023)
  4.8.4 EuroChem Product Portfolio
  4.8.5 EuroChem Recent Developments
4.9 Shanxi tianze coal-chemical
  4.9.1 Shanxi tianze coal-chemical Urea Fertilizers Company Information
  4.9.2 Shanxi tianze coal-chemical Urea Fertilizers Business Overview
  4.9.3 Shanxi tianze coal-chemical Urea Fertilizers Production Capacity, Value and Gross Margin (2018-2023)
  4.9.4 Shanxi tianze coal-chemical Product Portfolio
  4.9.5 Shanxi tianze coal-chemical Recent Developments
4.10 Rui Xing Group
  4.10.1 Rui Xing Group Urea Fertilizers Company Information
  4.10.2 Rui Xing Group Urea Fertilizers Business Overview
  4.10.3 Rui Xing Group Urea Fertilizers Production Capacity, Value and Gross Margin (2018-2023)
  4.10.4 Rui Xing Group Product Portfolio
  4.10.5 Rui Xing Group Recent Developments
7.11 China XLX Fertiliser
  7.11.1 China XLX Fertiliser Urea Fertilizers Company Information
  7.11.2 China XLX Fertiliser Urea Fertilizers Business Overview
  4.11.3 China XLX Fertiliser Urea Fertilizers Production Capacity, Value and Gross Margin (2018-2023)
  7.11.4 China XLX Fertiliser Product Portfolio
  7.11.5 China XLX Fertiliser Recent Developments
7.12 Shandong Lianmeng Chemical
  7.12.1 Shandong Lianmeng Chemical Urea Fertilizers Company Information
  7.12.2 Shandong Lianmeng Chemical Urea Fertilizers Business Overview
  7.12.3 Shandong Lianmeng Chemical Urea Fertilizers Production Capacity, Value and Gross Margin (2018-2023)
  7.12.4 Shandong Lianmeng Chemical Product Portfolio
  7.12.5 Shandong Lianmeng Chemical Recent Developments
7.13 Hualu-hengsheng
  7.13.1 Hualu-hengsheng Urea Fertilizers Company Information
  7.13.2 Hualu-hengsheng Urea Fertilizers Business Overview
  7.13.3 Hualu-hengsheng Urea Fertilizers Production Capacity, Value and Gross Margin (2018-2023)
  7.13.4 Hualu-hengsheng Product Portfolio
  7.13.5 Hualu-hengsheng Recent Developments
7.14 Dongguang Chemical
  7.14.1 Dongguang Chemical Urea Fertilizers Company Information
  7.14.2 Dongguang Chemical Urea Fertilizers Business Overview
  7.14.3 Dongguang Chemical Urea Fertilizers Production Capacity, Value and Gross Margin (2018-2023)
  7.14.4 Dongguang Chemical Product Portfolio
  7.14.5 Dongguang Chemical Recent Developments
7.15 Sichuan Lutianhua
  7.15.1 Sichuan Lutianhua Urea Fertilizers Company Information
  7.15.2 Sichuan Lutianhua Urea Fertilizers Business Overview
  7.15.3 Sichuan Lutianhua Urea Fertilizers Production Capacity, Value and Gross Margin (2018-2023)
  7.15.4 Sichuan Lutianhua Product Portfolio
  7.15.5 Sichuan Lutianhua Recent Developments
7.16 CVR Partners, LP
  7.16.1 CVR Partners, LP Urea Fertilizers Company Information
  7.16.2 CVR Partners, LP Urea Fertilizers Business Overview
  7.16.3 CVR Partners, LP Urea Fertilizers Production Capacity, Value and Gross Margin (2018-2023)
  7.16.4 CVR Partners, LP Product Portfolio
  7.16.5 CVR Partners, LP Recent Developments
7.17 Hubei Yihua Chemical Industry
  7.17.1 Hubei Yihua Chemical Industry Urea Fertilizers Company Information
  7.17.2 Hubei Yihua Chemical Industry Urea Fertilizers Business Overview
  7.17.3 Hubei Yihua Chemical Industry Urea Fertilizers Production Capacity, Value and Gross Margin (2018-2023)
  7.17.4 Hubei Yihua Chemical Industry Product Portfolio
  7.17.5 Hubei Yihua Chemical Industry Recent Developments
7.18 Luxi Chemical Group
  7.18.1 Luxi Chemical Group Urea Fertilizers Company Information
  7.18.2 Luxi Chemical Group Urea Fertilizers Business Overview
  7.18.3 Luxi Chemical Group Urea Fertilizers Production Capacity, Value and Gross Margin (2018-2023)
  7.18.4 Luxi Chemical Group Product Portfolio
  7.18.5 Luxi Chemical Group Recent Developments
7.19 Coromandel International Ltd.
  7.19.1 Coromandel International Ltd. Urea Fertilizers Company Information
  7.19.2 Coromandel International Ltd. Urea Fertilizers Business Overview
  7.19.3 Coromandel International Ltd. Urea Fertilizers Production Capacity, Value and Gross Margin (2018-2023)
  7.19.4 Coromandel International Ltd. Product Portfolio
  7.19.5 Coromandel International Ltd. Recent Developments
7.20 Sinofert Holdings Limited.
  7.20.1 Sinofert Holdings Limited. Urea Fertilizers Company Information
  7.20.2 Sinofert Holdings Limited. Urea Fertilizers Business Overview
  7.20.3 Sinofert Holdings Limited. Urea Fertilizers Production Capacity, Value and Gross Margin (2018-2023)
  7.20.4 Sinofert Holdings Limited. Product Portfolio
  7.20.5 Sinofert Holdings Limited. Recent Developments
7.21 Bunge Limited
  7.21.1 Bunge Limited Urea Fertilizers Company Information
  7.21.2 Bunge Limited Urea Fertilizers Business Overview
  7.21.3 Bunge Limited Urea Fertilizers Production Capacity, Value and Gross Margin (2018-2023)
  7.21.4 Bunge Limited Product Portfolio
  7.21.5 Bunge Limited Recent Developments
7.22 OSTCHEM (Group DF)
  7.22.1 OSTCHEM (Group DF) Urea Fertilizers Company Information
  7.22.2 OSTCHEM (Group DF) Urea Fertilizers Business Overview
  7.22.3 OSTCHEM (Group DF) Urea Fertilizers Production Capacity, Value and Gross Margin (2018-2023)
  7.22.4 OSTCHEM (Group DF) Product Portfolio
  7.22.5 OSTCHEM (Group DF) Recent Developments
7.23 OCI Nitrogen
  7.23.1 OCI Nitrogen Urea Fertilizers Company Information
  7.23.2 OCI Nitrogen Urea Fertilizers Business Overview
  7.23.3 OCI Nitrogen Urea Fertilizers Production Capacity, Value and Gross Margin (2018-2023)
  7.23.4 OCI Nitrogen Product Portfolio
  7.23.5 OCI Nitrogen Recent Developments

5 GLOBAL UREA FERTILIZERS PRODUCTION BY REGION

5.1 Global Urea Fertilizers Production Estimates and Forecasts by Region: 2018 VS 2022 VS 2029
5.2 Global Urea Fertilizers Production by Region: 2018-2029
  5.2.1 Global Urea Fertilizers Production by Region: 2018-2023
  5.2.2 Global Urea Fertilizers Production Forecast by Region (2024-2029)
5.3 Global Urea Fertilizers Production Value Estimates and Forecasts by Region: 2018 VS 2022 VS 2029
5.4 Global Urea Fertilizers Production Value by Region: 2018-2029
  5.4.1 Global Urea Fertilizers Production Value by Region: 2018-2023
  5.4.2 Global Urea Fertilizers Production Value Forecast by Region (2024-2029)
5.5 Global Urea Fertilizers Market Price Analysis by Region (2018-2023)
5.6 Global Urea Fertilizers Production and Value, YOY Growth
  5.6.1 North America Urea Fertilizers Production Value Estimates and Forecasts (2018-2029)
  5.6.2 Europe Urea Fertilizers Production Value Estimates and Forecasts (2018-2029)
  5.6.3 China Urea Fertilizers Production Value Estimates and Forecasts (2018-2029)
  5.6.4 India Urea Fertilizers Production Value Estimates and Forecasts (2018-2029)
  5.6.5 Mid East & Africa Urea Fertilizers Production Value Estimates and Forecasts (2018-2029)
  5.6.6 Southeast Asia Urea Fertilizers Production Value Estimates and Forecasts (2018-2029)

6 GLOBAL UREA FERTILIZERS CONSUMPTION BY REGION

6.1 Global Urea Fertilizers Consumption Estimates and Forecasts by Region: 2018 VS 2022 VS 2029
6.2 Global Urea Fertilizers Consumption by Region (2018-2029)
  6.2.1 Global Urea Fertilizers Consumption by Region: 2018-2029
  6.2.2 Global Urea Fertilizers Forecasted Consumption by Region (2024-2029)
6.3 North America
  6.3.1 North America Urea Fertilizers Consumption Growth Rate by Country: 2018 VS 2022 VS 2029
  6.3.2 North America Urea Fertilizers Consumption by Country (2018-2029)
  6.3.3 U.S.
  6.3.4 Canada
6.4 Europe
  6.4.1 Europe Urea Fertilizers Consumption Growth Rate by Country: 2018 VS 2022 VS 2029
  6.4.2 Europe Urea Fertilizers Consumption by Country (2018-2029)
  6.4.3 Germany
  6.4.4 France
  6.4.5 U.K.
  6.4.6 Italy
  6.4.7 Russia
6.5 Asia Pacific
  6.5.1 Asia Pacific Urea Fertilizers Consumption Growth Rate by Country: 2018 VS 2022 VS 2029
  6.5.2 Asia Pacific Urea Fertilizers Consumption by Country (2018-2029)
  6.5.3 China
  6.5.4 Japan
  6.5.5 South Korea
  6.5.6 China Taiwan
  6.5.7 Southeast Asia
  6.5.8 India
  6.5.9 Australia
6.6 Latin America, Middle East & Africa
  6.6.1 Latin America, Middle East & Africa Urea Fertilizers Consumption Growth Rate by Country: 2018 VS 2022 VS 2029
  6.6.2 Latin America, Middle East & Africa Urea Fertilizers Consumption by Country (2018-2029)
  6.6.3 Mexico
  6.6.4 Brazil
  6.6.5 Turkey
  6.6.5 GCC Countries

7 SEGMENT BY TYPE

7.1 Global Urea Fertilizers Production by Type (2018-2029)
  7.1.1 Global Urea Fertilizers Production by Type (2018-2029) & (MT)
  7.1.2 Global Urea Fertilizers Production Market Share by Type (2018-2029)
7.2 Global Urea Fertilizers Production Value by Type (2018-2029)
  7.2.1 Global Urea Fertilizers Production Value by Type (2018-2029) & (US$ Million)
  7.2.2 Global Urea Fertilizers Production Value Market Share by Type (2018-2029)
7.3 Global Urea Fertilizers Price by Type (2018-2029)

8 SEGMENT BY APPLICATION

8.1 Global Urea Fertilizers Production by Application (2018-2029)
  8.1.1 Global Urea Fertilizers Production by Application (2018-2029) & (MT)
  8.1.2 Global Urea Fertilizers Production by Application (2018-2029) & (MT)
8.2 Global Urea Fertilizers Production Value by Application (2018-2029)
  8.2.1 Global Urea Fertilizers Production Value by Application (2018-2029) & (US$ Million)
  8.2.2 Global Urea Fertilizers Production Value Market Share by Application (2018-2029)
8.3 Global Urea Fertilizers Price by Application (2018-2029)

9 VALUE CHAIN AND SALES CHANNELS ANALYSIS OF THE MARKET

9.1 Urea Fertilizers Value Chain Analysis
  9.1.1 Urea Fertilizers Key Raw Materials
  9.1.2 Raw Materials Key Suppliers
  9.1.3 Urea Fertilizers Production Mode & Process
9.2 Urea Fertilizers Sales Channels Analysis
  9.2.1 Direct Comparison with Distribution Share
  9.2.2 Urea Fertilizers Distributors
  9.2.3 Urea Fertilizers Customers

10 GLOBAL UREA FERTILIZERS ANALYZING MARKET DYNAMICS

10.1 Urea Fertilizers Industry Trends
10.2 Urea Fertilizers Industry Drivers
10.3 Urea Fertilizers Industry Opportunities and Challenges
10.4 Urea Fertilizers Industry Restraints

11 REPORT CONCLUSION

12 DISCLAIMER



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