Salicylic Acid Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Application (Pharmaceutical, Food & Preservatives, Cosmetics), By Region & Competition, 2021-2031F
The global salicylic acid market is projected to expand significantly, growing from USD 497.71 million in 2025 to USD 810.65 million by 2031 at an 8.47% compound annual growth rate (CAGR). This lipophilic beta-hydroxy acid (BHA) is crucial in pharmaceuticals and personal care due to its keratolytic and anti-inflammatory properties, serving as a critical component in manufacturing. Key growth drivers include the robust demand for acetylsalicylic acid (aspirin) production and the increasing need for effective topical treatments for dermatological disorders like psoriasis and acne, with acne affecting approximately 85% of adolescents as highlighted by the American Academy of Dermatology Association in 2025. This fundamental need for blemish control and exfoliation ensures a consistent revenue stream for raw material suppliers. However, the market faces a significant challenge from intensifying regulatory scrutiny, especially within the European Union, regarding ingredient safety and toxicity. Recent re-evaluation of salicylic acid's potential as an endocrine disruptor has led to more stringent concentration limits for its use in cosmetic and preservative applications, forcing manufacturers to allocate substantial resources toward compliance and product reformulation, which could impede rapid market expansion as the industry adjusts to these evolving safety standards.
Market Driver
The salicylic acid market is primarily driven by escalating consumer demand for acne treatments and anti-aging cosmetic formulations. As a lipophilic beta-hydroxy acid, it is essential in dermatological applications due to its ability to penetrate pores and exfoliate the stratum corneum, making it indispensable for blemish control and skin rejuvenation products. The trend towards clinical-grade skincare has significantly amplified consumption, with brands expanding portfolios to address adult acne and photo-aging, evidenced by L'Or?al's dermatological beauty division reporting an 11.3% sales increase and Beiersdorf's Derma brands achieving 8.8% organic sales growth in the first nine months of 2024. Additionally, the sustained expansion of pharmaceutical applications for aspirin and analgesic production further solidifies the industrial requirement for salicylic acid as a critical precursor. Acetylsalicylic acid remains a standard-of-care therapy for cardiovascular disease prevention and pain management, necessitating continuous large-scale synthesis of the raw acid to meet global public health needs. This pharmaceutical baseline provides a stable revenue floor for manufacturers, independent of cosmetic trends, as shown by Bayer AG's Consumer Health division achieving 6% year-over-year sales growth in Q3 2024, largely driven by increased Aspirin volumes in the EMEA region.
Market Challenge
Intensifying regulatory scrutiny regarding ingredient safety and toxicity stands as a formidable obstacle to the progress of the Global Salicylic Acid Market. Major authorities, particularly in the European Union, are reassessing the compound’s safety profile concerning potential endocrine disruption, resulting in stricter concentration caps for its use in cosmetic and preservative applications. This regulatory pressure forces companies to divert significant capital and technical expertise toward complex product reformulation and compliance documentation, resources that would otherwise be utilized for capacity expansion and research and development. The resulting operational strain directly impedes industrial growth by creating a cautious investment climate and delaying product launches, with the European Chemical Industry Council (Cefic) projecting less than 0.5% chemical output growth in the European Union for 2025. As producers struggle to navigate these evolving legal standards, the market experiences reduced flexibility and slower adoption rates in key personal care segments, effectively curbing the sector's overall revenue potential.
Market Trends
The transition towards plant-based and wintergreen-derived extraction sources is reshaping the market as brands increasingly replace synthetic phenol-based salicylic acid with biosourced alternatives from wintergreen and willow bark. This shift allows manufacturers to align with clean beauty standards and mitigate consumer concerns regarding petrochemical impurities. The industrial demand for such natural inputs is visible in recent supplier performance, with Symrise's Cosmetic Ingredients division achieving high single-digit organic growth in 2024, and its Active and Botanicals segment recording the strongest expansion rates, driven by the escalating requirement for sustainable formulation components. Simultaneously, the diversification into scalp health and antidandruff hair care regimens extends salicylic acid's utility beyond facial applications. Brands are leveraging the acid's keratolytic properties to treat seborrheic dermatitis and remove sebum build-up, effectively integrating clinical-grade treatments into hair care routines. This application expansion is generating significant revenue streams for major personal care conglomerates, as evidenced by Unilever's Beauty and Wellbeing division delivering 6.5% underlying sales growth in 2024, significantly bolstered by the commercial success of scalp-targeted innovations like the Dove Scalp and Hair Therapy range.
Key Market Players
In this report, the Global Salicylic Acid Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Company Profiles: Detailed analysis of the major companies present in the Global Salicylic Acid Market.
Available Customizations:
Global Salicylic Acid Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
Market Driver
The salicylic acid market is primarily driven by escalating consumer demand for acne treatments and anti-aging cosmetic formulations. As a lipophilic beta-hydroxy acid, it is essential in dermatological applications due to its ability to penetrate pores and exfoliate the stratum corneum, making it indispensable for blemish control and skin rejuvenation products. The trend towards clinical-grade skincare has significantly amplified consumption, with brands expanding portfolios to address adult acne and photo-aging, evidenced by L'Or?al's dermatological beauty division reporting an 11.3% sales increase and Beiersdorf's Derma brands achieving 8.8% organic sales growth in the first nine months of 2024. Additionally, the sustained expansion of pharmaceutical applications for aspirin and analgesic production further solidifies the industrial requirement for salicylic acid as a critical precursor. Acetylsalicylic acid remains a standard-of-care therapy for cardiovascular disease prevention and pain management, necessitating continuous large-scale synthesis of the raw acid to meet global public health needs. This pharmaceutical baseline provides a stable revenue floor for manufacturers, independent of cosmetic trends, as shown by Bayer AG's Consumer Health division achieving 6% year-over-year sales growth in Q3 2024, largely driven by increased Aspirin volumes in the EMEA region.
Market Challenge
Intensifying regulatory scrutiny regarding ingredient safety and toxicity stands as a formidable obstacle to the progress of the Global Salicylic Acid Market. Major authorities, particularly in the European Union, are reassessing the compound’s safety profile concerning potential endocrine disruption, resulting in stricter concentration caps for its use in cosmetic and preservative applications. This regulatory pressure forces companies to divert significant capital and technical expertise toward complex product reformulation and compliance documentation, resources that would otherwise be utilized for capacity expansion and research and development. The resulting operational strain directly impedes industrial growth by creating a cautious investment climate and delaying product launches, with the European Chemical Industry Council (Cefic) projecting less than 0.5% chemical output growth in the European Union for 2025. As producers struggle to navigate these evolving legal standards, the market experiences reduced flexibility and slower adoption rates in key personal care segments, effectively curbing the sector's overall revenue potential.
Market Trends
The transition towards plant-based and wintergreen-derived extraction sources is reshaping the market as brands increasingly replace synthetic phenol-based salicylic acid with biosourced alternatives from wintergreen and willow bark. This shift allows manufacturers to align with clean beauty standards and mitigate consumer concerns regarding petrochemical impurities. The industrial demand for such natural inputs is visible in recent supplier performance, with Symrise's Cosmetic Ingredients division achieving high single-digit organic growth in 2024, and its Active and Botanicals segment recording the strongest expansion rates, driven by the escalating requirement for sustainable formulation components. Simultaneously, the diversification into scalp health and antidandruff hair care regimens extends salicylic acid's utility beyond facial applications. Brands are leveraging the acid's keratolytic properties to treat seborrheic dermatitis and remove sebum build-up, effectively integrating clinical-grade treatments into hair care routines. This application expansion is generating significant revenue streams for major personal care conglomerates, as evidenced by Unilever's Beauty and Wellbeing division delivering 6.5% underlying sales growth in 2024, significantly bolstered by the commercial success of scalp-targeted innovations like the Dove Scalp and Hair Therapy range.
Key Market Players
- Bayer AG
- Shandong Xinhua Pharmaceutical Co., Ltd
- Novacap SA
- Hebei Jingye Group
- Alta Laboratories Ltd
- Siddharth Carbochem Products Ltd
- Zhenjiang Gaopeng Pharmaceutical Co., Ltd
- Thermo Fisher Scientific Inc.
- Merck KGaA
- M. Loveridge Ltd
- Shandong Jiahong Chemical Co., Ltd
In this report, the Global Salicylic Acid Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
- Salicylic Acid Market, By Application
- Pharmaceutical
- Food & Preservatives
- Cosmetics
- Salicylic Acid Market, By Region
- North America
- United States
- Canada
- Mexico
- Europe
- France
- United Kingdom
- Italy
- Germany
- Spain
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
Company Profiles: Detailed analysis of the major companies present in the Global Salicylic Acid Market.
Available Customizations:
Global Salicylic Acid Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
1. PRODUCT OVERVIEW
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
2. RESEARCH METHODOLOGY
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3. EXECUTIVE SUMMARY
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends
4. VOICE OF CUSTOMER
5. GLOBAL SALICYLIC ACID MARKET OUTLOOK
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Application (Pharmaceutical, Food & Preservatives, Cosmetics)
5.2.2. By Region
5.2.3. By Company (2025)
5.3. Market Map
6. NORTH AMERICA SALICYLIC ACID MARKET OUTLOOK
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Application
6.2.2. By Country
6.3. North America: Country Analysis
6.3.1. United States Salicylic Acid Market Outlook
6.3.1.1. Market Size & Forecast
6.3.1.1.1. By Value
6.3.1.2. Market Share & Forecast
6.3.1.2.1. By Application
6.3.2. Canada Salicylic Acid Market Outlook
6.3.2.1. Market Size & Forecast
6.3.2.1.1. By Value
6.3.2.2. Market Share & Forecast
6.3.2.2.1. By Application
6.3.3. Mexico Salicylic Acid Market Outlook
6.3.3.1. Market Size & Forecast
6.3.3.1.1. By Value
6.3.3.2. Market Share & Forecast
6.3.3.2.1. By Application
7. EUROPE SALICYLIC ACID MARKET OUTLOOK
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Application
7.2.2. By Country
7.3. Europe: Country Analysis
7.3.1. Germany Salicylic Acid Market Outlook
7.3.1.1. Market Size & Forecast
7.3.1.1.1. By Value
7.3.1.2. Market Share & Forecast
7.3.1.2.1. By Application
7.3.2. France Salicylic Acid Market Outlook
7.3.2.1. Market Size & Forecast
7.3.2.1.1. By Value
7.3.2.2. Market Share & Forecast
7.3.2.2.1. By Application
7.3.3. United Kingdom Salicylic Acid Market Outlook
7.3.3.1. Market Size & Forecast
7.3.3.1.1. By Value
7.3.3.2. Market Share & Forecast
7.3.3.2.1. By Application
7.3.4. Italy Salicylic Acid Market Outlook
7.3.4.1. Market Size & Forecast
7.3.4.1.1. By Value
7.3.4.2. Market Share & Forecast
7.3.4.2.1. By Application
7.3.5. Spain Salicylic Acid Market Outlook
7.3.5.1. Market Size & Forecast
7.3.5.1.1. By Value
7.3.5.2. Market Share & Forecast
7.3.5.2.1. By Application
8. ASIA PACIFIC SALICYLIC ACID MARKET OUTLOOK
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Application
8.2.2. By Country
8.3. Asia Pacific: Country Analysis
8.3.1. China Salicylic Acid Market Outlook
8.3.1.1. Market Size & Forecast
8.3.1.1.1. By Value
8.3.1.2. Market Share & Forecast
8.3.1.2.1. By Application
8.3.2. India Salicylic Acid Market Outlook
8.3.2.1. Market Size & Forecast
8.3.2.1.1. By Value
8.3.2.2. Market Share & Forecast
8.3.2.2.1. By Application
8.3.3. Japan Salicylic Acid Market Outlook
8.3.3.1. Market Size & Forecast
8.3.3.1.1. By Value
8.3.3.2. Market Share & Forecast
8.3.3.2.1. By Application
8.3.4. South Korea Salicylic Acid Market Outlook
8.3.4.1. Market Size & Forecast
8.3.4.1.1. By Value
8.3.4.2. Market Share & Forecast
8.3.4.2.1. By Application
8.3.5. Australia Salicylic Acid Market Outlook
8.3.5.1. Market Size & Forecast
8.3.5.1.1. By Value
8.3.5.2. Market Share & Forecast
8.3.5.2.1. By Application
9. MIDDLE EAST & AFRICA SALICYLIC ACID MARKET OUTLOOK
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Application
9.2.2. By Country
9.3. Middle East & Africa: Country Analysis
9.3.1. Saudi Arabia Salicylic Acid Market Outlook
9.3.1.1. Market Size & Forecast
9.3.1.1.1. By Value
9.3.1.2. Market Share & Forecast
9.3.1.2.1. By Application
9.3.2. UAE Salicylic Acid Market Outlook
9.3.2.1. Market Size & Forecast
9.3.2.1.1. By Value
9.3.2.2. Market Share & Forecast
9.3.2.2.1. By Application
9.3.3. South Africa Salicylic Acid Market Outlook
9.3.3.1. Market Size & Forecast
9.3.3.1.1. By Value
9.3.3.2. Market Share & Forecast
9.3.3.2.1. By Application
10. SOUTH AMERICA SALICYLIC ACID MARKET OUTLOOK
10.1. Market Size & Forecast
10.1.1. By Value
10.2. Market Share & Forecast
10.2.1. By Application
10.2.2. By Country
10.3. South America: Country Analysis
10.3.1. Brazil Salicylic Acid Market Outlook
10.3.1.1. Market Size & Forecast
10.3.1.1.1. By Value
10.3.1.2. Market Share & Forecast
10.3.1.2.1. By Application
10.3.2. Colombia Salicylic Acid Market Outlook
10.3.2.1. Market Size & Forecast
10.3.2.1.1. By Value
10.3.2.2. Market Share & Forecast
10.3.2.2.1. By Application
10.3.3. Argentina Salicylic Acid Market Outlook
10.3.3.1. Market Size & Forecast
10.3.3.1.1. By Value
10.3.3.2. Market Share & Forecast
10.3.3.2.1. By Application
11. MARKET DYNAMICS
11.1. Drivers
11.2. Challenges
12. MARKET TRENDS & DEVELOPMENTS
12.1. Merger & Acquisition (If Any)
12.2. Product Launches (If Any)
12.3. Recent Developments
13. GLOBAL SALICYLIC ACID MARKET: SWOT ANALYSIS
14. PORTER'S FIVE FORCES ANALYSIS
14.1. Competition in the Industry
14.2. Potential of New Entrants
14.3. Power of Suppliers
14.4. Power of Customers
14.5. Threat of Substitute Products
15. COMPETITIVE LANDSCAPE
15.1. Bayer AG
15.1.1. Business Overview
15.1.2. Products & Services
15.1.3. Recent Developments
15.1.4. Key Personnel
15.1.5. SWOT Analysis
15.2. Shandong Xinhua Pharmaceutical Co., Ltd
15.3. Novacap SA
15.4. Hebei Jingye Group
15.5. Alta Laboratories Ltd
15.6. Siddharth Carbochem Products Ltd
15.7. Zhenjiang Gaopeng Pharmaceutical Co., Ltd
15.8. Thermo Fisher Scientific Inc.
15.9. Merck KGaA
15.10. M. Loveridge Ltd
15.11. Shandong Jiahong Chemical Co., Ltd
16. STRATEGIC RECOMMENDATIONS
17. ABOUT US & DISCLAIMER
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
2. RESEARCH METHODOLOGY
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3. EXECUTIVE SUMMARY
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends
4. VOICE OF CUSTOMER
5. GLOBAL SALICYLIC ACID MARKET OUTLOOK
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Application (Pharmaceutical, Food & Preservatives, Cosmetics)
5.2.2. By Region
5.2.3. By Company (2025)
5.3. Market Map
6. NORTH AMERICA SALICYLIC ACID MARKET OUTLOOK
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Application
6.2.2. By Country
6.3. North America: Country Analysis
6.3.1. United States Salicylic Acid Market Outlook
6.3.1.1. Market Size & Forecast
6.3.1.1.1. By Value
6.3.1.2. Market Share & Forecast
6.3.1.2.1. By Application
6.3.2. Canada Salicylic Acid Market Outlook
6.3.2.1. Market Size & Forecast
6.3.2.1.1. By Value
6.3.2.2. Market Share & Forecast
6.3.2.2.1. By Application
6.3.3. Mexico Salicylic Acid Market Outlook
6.3.3.1. Market Size & Forecast
6.3.3.1.1. By Value
6.3.3.2. Market Share & Forecast
6.3.3.2.1. By Application
7. EUROPE SALICYLIC ACID MARKET OUTLOOK
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Application
7.2.2. By Country
7.3. Europe: Country Analysis
7.3.1. Germany Salicylic Acid Market Outlook
7.3.1.1. Market Size & Forecast
7.3.1.1.1. By Value
7.3.1.2. Market Share & Forecast
7.3.1.2.1. By Application
7.3.2. France Salicylic Acid Market Outlook
7.3.2.1. Market Size & Forecast
7.3.2.1.1. By Value
7.3.2.2. Market Share & Forecast
7.3.2.2.1. By Application
7.3.3. United Kingdom Salicylic Acid Market Outlook
7.3.3.1. Market Size & Forecast
7.3.3.1.1. By Value
7.3.3.2. Market Share & Forecast
7.3.3.2.1. By Application
7.3.4. Italy Salicylic Acid Market Outlook
7.3.4.1. Market Size & Forecast
7.3.4.1.1. By Value
7.3.4.2. Market Share & Forecast
7.3.4.2.1. By Application
7.3.5. Spain Salicylic Acid Market Outlook
7.3.5.1. Market Size & Forecast
7.3.5.1.1. By Value
7.3.5.2. Market Share & Forecast
7.3.5.2.1. By Application
8. ASIA PACIFIC SALICYLIC ACID MARKET OUTLOOK
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Application
8.2.2. By Country
8.3. Asia Pacific: Country Analysis
8.3.1. China Salicylic Acid Market Outlook
8.3.1.1. Market Size & Forecast
8.3.1.1.1. By Value
8.3.1.2. Market Share & Forecast
8.3.1.2.1. By Application
8.3.2. India Salicylic Acid Market Outlook
8.3.2.1. Market Size & Forecast
8.3.2.1.1. By Value
8.3.2.2. Market Share & Forecast
8.3.2.2.1. By Application
8.3.3. Japan Salicylic Acid Market Outlook
8.3.3.1. Market Size & Forecast
8.3.3.1.1. By Value
8.3.3.2. Market Share & Forecast
8.3.3.2.1. By Application
8.3.4. South Korea Salicylic Acid Market Outlook
8.3.4.1. Market Size & Forecast
8.3.4.1.1. By Value
8.3.4.2. Market Share & Forecast
8.3.4.2.1. By Application
8.3.5. Australia Salicylic Acid Market Outlook
8.3.5.1. Market Size & Forecast
8.3.5.1.1. By Value
8.3.5.2. Market Share & Forecast
8.3.5.2.1. By Application
9. MIDDLE EAST & AFRICA SALICYLIC ACID MARKET OUTLOOK
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Application
9.2.2. By Country
9.3. Middle East & Africa: Country Analysis
9.3.1. Saudi Arabia Salicylic Acid Market Outlook
9.3.1.1. Market Size & Forecast
9.3.1.1.1. By Value
9.3.1.2. Market Share & Forecast
9.3.1.2.1. By Application
9.3.2. UAE Salicylic Acid Market Outlook
9.3.2.1. Market Size & Forecast
9.3.2.1.1. By Value
9.3.2.2. Market Share & Forecast
9.3.2.2.1. By Application
9.3.3. South Africa Salicylic Acid Market Outlook
9.3.3.1. Market Size & Forecast
9.3.3.1.1. By Value
9.3.3.2. Market Share & Forecast
9.3.3.2.1. By Application
10. SOUTH AMERICA SALICYLIC ACID MARKET OUTLOOK
10.1. Market Size & Forecast
10.1.1. By Value
10.2. Market Share & Forecast
10.2.1. By Application
10.2.2. By Country
10.3. South America: Country Analysis
10.3.1. Brazil Salicylic Acid Market Outlook
10.3.1.1. Market Size & Forecast
10.3.1.1.1. By Value
10.3.1.2. Market Share & Forecast
10.3.1.2.1. By Application
10.3.2. Colombia Salicylic Acid Market Outlook
10.3.2.1. Market Size & Forecast
10.3.2.1.1. By Value
10.3.2.2. Market Share & Forecast
10.3.2.2.1. By Application
10.3.3. Argentina Salicylic Acid Market Outlook
10.3.3.1. Market Size & Forecast
10.3.3.1.1. By Value
10.3.3.2. Market Share & Forecast
10.3.3.2.1. By Application
11. MARKET DYNAMICS
11.1. Drivers
11.2. Challenges
12. MARKET TRENDS & DEVELOPMENTS
12.1. Merger & Acquisition (If Any)
12.2. Product Launches (If Any)
12.3. Recent Developments
13. GLOBAL SALICYLIC ACID MARKET: SWOT ANALYSIS
14. PORTER'S FIVE FORCES ANALYSIS
14.1. Competition in the Industry
14.2. Potential of New Entrants
14.3. Power of Suppliers
14.4. Power of Customers
14.5. Threat of Substitute Products
15. COMPETITIVE LANDSCAPE
15.1. Bayer AG
15.1.1. Business Overview
15.1.2. Products & Services
15.1.3. Recent Developments
15.1.4. Key Personnel
15.1.5. SWOT Analysis
15.2. Shandong Xinhua Pharmaceutical Co., Ltd
15.3. Novacap SA
15.4. Hebei Jingye Group
15.5. Alta Laboratories Ltd
15.6. Siddharth Carbochem Products Ltd
15.7. Zhenjiang Gaopeng Pharmaceutical Co., Ltd
15.8. Thermo Fisher Scientific Inc.
15.9. Merck KGaA
15.10. M. Loveridge Ltd
15.11. Shandong Jiahong Chemical Co., Ltd
16. STRATEGIC RECOMMENDATIONS
17. ABOUT US & DISCLAIMER
