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レポート概要
| 当調査レポートは次の情報を含め、世界の弾性フィルム市場規模と予測を収録しています。・世界の弾性フィルム市場：売上、2018年-2023年、2024年-2029年 ・世界の弾性フィルム市場：販売量、2018年-2023年、2024年-2029年 ・世界のトップ5企業、2022年 世界の弾性フィルム市場は2022年に000Mドルと評価され、予測期間中に000％のCAGRで2029年までに000Mドルに達すると予測されています。米国市場は2022年に000Mドルと推定されており、中国は2029年までに000Mドルに達すると予測されています。「エチレン」セグメントは今後6年間、000%のCAGRで2029年までに000Mドルに成長すると予測されています。 弾性フィルムのグローバル主要企業は、Berry、 RKW、 Coveris、 Fitesa、 EXTEN、 SWM (Mativ)、 Kurilon、 DUO PLAST、 Covestro、 San Fang Chemical、 Nitto Denko、 Sheedom、 Mondi、 Hygenic、 Jiangmen Hualong Membrane Material、 Shanghai DYPE、 Wenzhou Tekang Elasticity、 Shanghai Xin Gen Eco-Technologiesなどです。2022年にトップ5企業がグローバル売上シェアの約000%を占めています。 MARKET MONITOR GLOBAL（MMG）は、弾性フィルムのメーカー、サプライヤー、流通業者、および業界の専門家を調査しました。これには、販売量、売上、需要、価格変動、製品タイプ、最近の動向と計画、産業トレンド、成長要因、課題、阻害要因、潜在的なリスクなどが含まれます。 【セグメント別市場分析】 世界の弾性フィルム市場：タイプ別、2018年-2023年、2024年-2029年 世界の弾性フィルム市場：タイプ別市場シェア、2022年 ・エチレン、プロピレン、熱可塑性エラストマー（TPE）、シリコーン、その他 世界の弾性フィルム市場：用途別、2018年-2023年、2024年-2029年 世界の弾性フィルム市場：用途別市場シェア、2022年 ・吸収性衛生用品、衣料品、医療消耗品、食品＆飲料、工業用、その他 世界の弾性フィルム市場：地域・国別、2018年-2023年、2024年-2029年 世界の弾性フィルム市場：地域別市場シェア、2022年 ・北米：アメリカ、カナダ、メキシコ ・ヨーロッパ：ドイツ、フランス、イギリス、イタリア、ロシア ・アジア：中国、日本、韓国、東南アジア、インド ・南米：ブラジル、アルゼンチン ・中東・アフリカ：トルコ、イスラエル、サウジアラビア、UAE 【競合分析】 また、当レポートは主要な市場参加者の分析を提供します。 ・主要企業における弾性フィルムのグローバル売上、2018年-2023年 ・主要企業における弾性フィルムのグローバル売上シェア、2022年 ・主要企業における弾性フィルムのグローバル販売量、2018年-2023年 ・主要企業における弾性フィルムのグローバル販売量シェア、2022年 さらに、当レポートは主要企業のプロファイルを提示します。 Berry、 RKW、 Coveris、 Fitesa、 EXTEN、 SWM (Mativ)、 Kurilon、 DUO PLAST、 Covestro、 San Fang Chemical、 Nitto Denko、 Sheedom、 Mondi、 Hygenic、 Jiangmen Hualong Membrane Material、 Shanghai DYPE、 Wenzhou Tekang Elasticity、 Shanghai Xin Gen Eco-Technologies ************************************************************* ・調査・分析レポートの概要 弾性フィルム市場の定義 市場セグメント 世界の弾性フィルム市場概要 当レポートの特徴・ベネフィット 調査手法と情報源 ・世界の弾性フィルム市場規模 世界の弾性フィルム市場規模：2022年 VS 2029年 世界の弾性フィルム市場規模と予測 2018年-2029年 ・競争状況 グローバルトップ企業 売上ベースでのグローバルトップ企業 企業別グローバルでの弾性フィルムの売上 グローバルトップ3およびトップ5企業、2022年売上ベース グローバル企業の弾性フィルム製品タイプ グローバルにおけるティア1、ティア2、ティア3企業 ・タイプ別市場分析 タイプ区分：エチレン、プロピレン、熱可塑性エラストマー（TPE）、シリコーン、その他 弾性フィルムのタイプ別グローバル売上・予測 ・用途別市場分析 用途区分：吸収性衛生用品、衣料品、医療消耗品、食品＆飲料、工業用、その他 弾性フィルムの用途別グローバル売上・予測 ・地域別市場分析 地域別弾性フィルム市場規模 2022年と2029年 地域別弾性フィルム売上・予測 北米市場：アメリカ、カナダ、メキシコ ヨーロッパ市場：ドイツ、フランス、イギリス、イタリア、ロシア アジア市場：中国、日本、韓国、東南アジア、インド 南米市場：ブラジル、アルゼンチン 中東・アフリカ市場：トルコ、イスラエル、サウジアラビア、UAE ・主要企業のプロファイル（企業概要、事業概要、主要製品、売上、ニュースなど） Berry、 RKW、 Coveris、 Fitesa、 EXTEN、 SWM (Mativ)、 Kurilon、 DUO PLAST、 Covestro、 San Fang Chemical、 Nitto Denko、 Sheedom、 Mondi、 Hygenic、 Jiangmen Hualong Membrane Material、 Shanghai DYPE、 Wenzhou Tekang Elasticity、 Shanghai Xin Gen Eco-Technologies ... |
This research report provides a comprehensive analysis of the Elastic Film market, focusing on the current trends, market dynamics, and future prospects. The report explores the global Elastic Film market, including major regions such as North America, Europe, Asia-Pacific, and emerging markets. It also examines key factors driving the growth of Elastic Film, challenges faced by the industry, and potential opportunities for market players.
The global Elastic Film market has witnessed rapid growth in recent years, driven by increasing environmental concerns, government incentives, and advancements in technology. The Elastic Film market presents opportunities for various stakeholders, including Absorbent Hygiene Products, Clothing. Collaboration between the private sector and governments can accelerate the development of supportive policies, research and development efforts, and investment in Elastic Film market. Additionally, the growing consumer demand present avenues for market expansion.
The global Elastic Film market was valued at US$ 584.8 million in 2022 and is projected to reach US$ 839.1 million by 2029, at a CAGR of 5.4% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
Global 5 largest manufacturers of Elastic Film are Berry, RKW, Coveris, Fitesa and EXTEN, which make up over 35%. Among them, Berry is the leader with about 8% market share.
Europe is the largest market, with a share about 40%, followed by China and North America, with the share about 14% and 22%. In terms of product type, SBS occupies the largest share of the total market, about 34%. And in terms of application, the largest application is Absorbent Hygiene Products, followed by Medical Consumable.
Key Features:
The research report on the Elastic Film market includes several key features to provide comprehensive insights and facilitate decision-making for stakeholders.
Executive Summary: The report provides overview of the key findings, market trends, and major insights of the Elastic Film market.
Market Overview: The report provides a comprehensive overview of the Elastic Film market, including its definition, historical development, and current market size. It covers market segmentation by Type (e.g., Ethylene-based, Propylene-based), region, and application, highlighting the key drivers, challenges, and opportunities within each segment.
Market Dynamics: The report analyses the market dynamics driving the growth and development of the Elastic Film market. The report includes an assessment of government policies and regulations, technological advancements, consumer trends and preferences, infrastructure development, and industry collaborations. This analysis helps stakeholders understand the factors influencing the Elastic Film market’s trajectory.
Competitive Landscape: The report provides an in-depth analysis of the competitive landscape within the Elastic Film market. It includes profiles of major market players, their market share, strategies, product portfolios, and recent developments.
Market Segmentation and Forecast: The report segment the Elastic Film market based on various parameters, such as by Type, region, and by Application. It provides market size and growth forecasts for each segment, supported by quantitative data and analysis. This helps stakeholders identify growth opportunities and make informed investment decisions.
Technological Trends: The report should highlight the key technological trends shaping the Elastic Film market, such as advancements in Type One technology and emerging substitutes. It analyses the impact of these trends on market growth, adoption rates, and consumer preferences.
Market Challenges and Opportunities: The report identify and analyses the major challenges faced by the Elastic Film market, such as technical bottleneck, cost limitations, and high entry barrier. It also highlights the opportunities for market growth, such as government incentives, emerging markets, and collaborations between stakeholders.
Regulatory and Policy Analysis: The report should assess the regulatory and policy landscape for Elastic Film, including government incentives, emission standards, and infrastructure development plans. It should analyse the impact of these policies on market growth and provide insights into future regulatory developments.
Recommendations and Conclusion: The report conclude with actionable recommendations for stakeholders, such as Application One Consumer, policymakers, investors, and infrastructure providers. These recommendations should be based on the research findings and address key challenges and opportunities within the Elastic Film market.
Supporting Data and Appendices: The report include supporting data, charts, and graphs to substantiate the analysis and findings. It also includes appendices with additional detailed information, such as data sources, survey questionnaires, and detailed market forecasts.
Market Segmentation
Elastic Film market is split by Type and by Application. For the period 2018-2029, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.
Market segment by Type
Ethylene-based
Propylene-based
Thermoplastic Elastomer (TPE)
Silicone-based
Others
Market segment by Application
Absorbent Hygiene Products
Clothing
Medical Consumable
Food and Beverage
Industrial
Others
Global Elastic Film Market Segment Percentages, By Region and Country, 2022 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Major players covered
Berry
RKW
Coveris
Fitesa
EXTEN
SWM (Mativ)
Kurilon
DUO PLAST
Covestro
San Fang Chemical
Nitto Denko
Sheedom
Mondi
Hygenic
Jiangmen Hualong Membrane Material
Shanghai DYPE
Wenzhou Tekang Elasticity
Shanghai Xin Gen Eco-Technologies
Outline of Major Chapters:
Chapter 1: Introduces the definition of Elastic Film, market overview.
Chapter 2: Global Elastic Film market size in revenue and volume.
Chapter 3: Detailed analysis of Elastic Film manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: 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 5: 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 6: Sales of Elastic Film 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 of each country in the world.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: Global Elastic Film capacity by region & country.
Chapter 9: 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 10: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 11: The main points and conclusions of the report.
1 Introduction to Research & Analysis Reports
1.1 Elastic Film Market Definition
1.2 Market Segments
1.2.1 Market by Type
1.2.2 Market by Application
1.3 Global Elastic Film Market Overview
1.4 Features & Benefits of This Report
1.5 Methodology & Sources of Information
1.5.1 Research Methodology
1.5.2 Research Process
1.5.3 Base Year
1.5.4 Report Assumptions & Caveats
2 Global Elastic Film Overall Market Size
2.1 Global Elastic Film Market Size: 2022 VS 2029
2.2 Global Elastic Film Revenue, Prospects & Forecasts: 2018-2029
2.3 Global Elastic Film Sales: 2018-2029
3 Company Landscape
3.1 Top Elastic Film Players in Global Market
3.2 Top Global Elastic Film Companies Ranked by Revenue
3.3 Global Elastic Film Revenue by Companies
3.4 Global Elastic Film Sales by Companies
3.5 Global Elastic Film Price by Manufacturer (2018-2023)
3.6 Top 3 and Top 5 Elastic Film Companies in Global Market, by Revenue in 2022
3.7 Global Manufacturers Elastic Film Product Type
3.8 Tier 1, Tier 2 and Tier 3 Elastic Film Players in Global Market
3.8.1 List of Global Tier 1 Elastic Film Companies
3.8.2 List of Global Tier 2 and Tier 3 Elastic Film Companies
4 Sights by Product
4.1 Overview
4.1.1 By Type – Global Elastic Film Market Size Markets, 2022 & 2029
4.1.2 Ethylene-based
4.1.3 Propylene-based
4.1.4 Thermoplastic Elastomer (TPE)
4.1.5 Silicone-based
4.1.6 Others
4.2 By Type – Global Elastic Film Revenue & Forecasts
4.2.1 By Type – Global Elastic Film Revenue, 2018-2023
4.2.2 By Type – Global Elastic Film Revenue, 2024-2029
4.2.3 By Type – Global Elastic Film Revenue Market Share, 2018-2029
4.3 By Type – Global Elastic Film Sales & Forecasts
4.3.1 By Type – Global Elastic Film Sales, 2018-2023
4.3.2 By Type – Global Elastic Film Sales, 2024-2029
4.3.3 By Type – Global Elastic Film Sales Market Share, 2018-2029
4.4 By Type – Global Elastic Film Price (Manufacturers Selling Prices), 2018-2029
5 Sights by Application
5.1 Overview
5.1.1 By Application – Global Elastic Film Market Size, 2022 & 2029
5.1.2 Absorbent Hygiene Products
5.1.3 Clothing
5.1.4 Medical Consumable
5.1.5 Food and Beverage
5.1.6 Industrial
5.1.7 Others
5.2 By Application – Global Elastic Film Revenue & Forecasts
5.2.1 By Application – Global Elastic Film Revenue, 2018-2023
5.2.2 By Application – Global Elastic Film Revenue, 2024-2029
5.2.3 By Application – Global Elastic Film Revenue Market Share, 2018-2029
5.3 By Application – Global Elastic Film Sales & Forecasts
5.3.1 By Application – Global Elastic Film Sales, 2018-2023
5.3.2 By Application – Global Elastic Film Sales, 2024-2029
5.3.3 By Application – Global Elastic Film Sales Market Share, 2018-2029
5.4 By Application – Global Elastic Film Price (Manufacturers Selling Prices), 2018-2029
6 Sights by Region
6.1 By Region – Global Elastic Film Market Size, 2022 & 2029
6.2 By Region – Global Elastic Film Revenue & Forecasts
6.2.1 By Region – Global Elastic Film Revenue, 2018-2023
6.2.2 By Region – Global Elastic Film Revenue, 2024-2029
6.2.3 By Region – Global Elastic Film Revenue Market Share, 2018-2029
6.3 By Region – Global Elastic Film Sales & Forecasts
6.3.1 By Region – Global Elastic Film Sales, 2018-2023
6.3.2 By Region – Global Elastic Film Sales, 2024-2029
6.3.3 By Region – Global Elastic Film Sales Market Share, 2018-2029
6.4 North America
6.4.1 By Country – North America Elastic Film Revenue, 2018-2029
6.4.2 By Country – North America Elastic Film Sales, 2018-2029
6.4.3 US Elastic Film Market Size, 2018-2029
6.4.4 Canada Elastic Film Market Size, 2018-2029
6.4.5 Mexico Elastic Film Market Size, 2018-2029
6.5 Europe
6.5.1 By Country – Europe Elastic Film Revenue, 2018-2029
6.5.2 By Country – Europe Elastic Film Sales, 2018-2029
6.5.3 Germany Elastic Film Market Size, 2018-2029
6.5.4 France Elastic Film Market Size, 2018-2029
6.5.5 U.K. Elastic Film Market Size, 2018-2029
6.5.6 Italy Elastic Film Market Size, 2018-2029
6.5.7 Russia Elastic Film Market Size, 2018-2029
6.5.8 Nordic Countries Elastic Film Market Size, 2018-2029
6.5.9 Benelux Elastic Film Market Size, 2018-2029
6.6 Asia
6.6.1 By Region – Asia Elastic Film Revenue, 2018-2029
6.6.2 By Region – Asia Elastic Film Sales, 2018-2029
6.6.3 China Elastic Film Market Size, 2018-2029
6.6.4 Japan Elastic Film Market Size, 2018-2029
6.6.5 South Korea Elastic Film Market Size, 2018-2029
6.6.6 Southeast Asia Elastic Film Market Size, 2018-2029
6.6.7 India Elastic Film Market Size, 2018-2029
6.7 South America
6.7.1 By Country – South America Elastic Film Revenue, 2018-2029
6.7.2 By Country – South America Elastic Film Sales, 2018-2029
6.7.3 Brazil Elastic Film Market Size, 2018-2029
6.7.4 Argentina Elastic Film Market Size, 2018-2029
6.8 Middle East & Africa
6.8.1 By Country – Middle East & Africa Elastic Film Revenue, 2018-2029
6.8.2 By Country – Middle East & Africa Elastic Film Sales, 2018-2029
6.8.3 Turkey Elastic Film Market Size, 2018-2029
6.8.4 Israel Elastic Film Market Size, 2018-2029
6.8.5 Saudi Arabia Elastic Film Market Size, 2018-2029
6.8.6 UAE Elastic Film Market Size, 2018-2029
7 Manufacturers & Brands Profiles
7.1 Berry
7.1.1 Berry Company Summary
7.1.2 Berry Business Overview
7.1.3 Berry Elastic Film Major Product Offerings
7.1.4 Berry Elastic Film Sales and Revenue in Global (2018-2023)
7.1.5 Berry Key News & Latest Developments
7.2 RKW
7.2.1 RKW Company Summary
7.2.2 RKW Business Overview
7.2.3 RKW Elastic Film Major Product Offerings
7.2.4 RKW Elastic Film Sales and Revenue in Global (2018-2023)
7.2.5 RKW Key News & Latest Developments
7.3 Coveris
7.3.1 Coveris Company Summary
7.3.2 Coveris Business Overview
7.3.3 Coveris Elastic Film Major Product Offerings
7.3.4 Coveris Elastic Film Sales and Revenue in Global (2018-2023)
7.3.5 Coveris Key News & Latest Developments
7.4 Fitesa
7.4.1 Fitesa Company Summary
7.4.2 Fitesa Business Overview
7.4.3 Fitesa Elastic Film Major Product Offerings
7.4.4 Fitesa Elastic Film Sales and Revenue in Global (2018-2023)
7.4.5 Fitesa Key News & Latest Developments
7.5 EXTEN
7.5.1 EXTEN Company Summary
7.5.2 EXTEN Business Overview
7.5.3 EXTEN Elastic Film Major Product Offerings
7.5.4 EXTEN Elastic Film Sales and Revenue in Global (2018-2023)
7.5.5 EXTEN Key News & Latest Developments
7.6 SWM (Mativ)
7.6.1 SWM (Mativ) Company Summary
7.6.2 SWM (Mativ) Business Overview
7.6.3 SWM (Mativ) Elastic Film Major Product Offerings
7.6.4 SWM (Mativ) Elastic Film Sales and Revenue in Global (2018-2023)
7.6.5 SWM (Mativ) Key News & Latest Developments
7.7 Kurilon
7.7.1 Kurilon Company Summary
7.7.2 Kurilon Business Overview
7.7.3 Kurilon Elastic Film Major Product Offerings
7.7.4 Kurilon Elastic Film Sales and Revenue in Global (2018-2023)
7.7.5 Kurilon Key News & Latest Developments
7.8 DUO PLAST
7.8.1 DUO PLAST Company Summary
7.8.2 DUO PLAST Business Overview
7.8.3 DUO PLAST Elastic Film Major Product Offerings
7.8.4 DUO PLAST Elastic Film Sales and Revenue in Global (2018-2023)
7.8.5 DUO PLAST Key News & Latest Developments
7.9 Covestro
7.9.1 Covestro Company Summary
7.9.2 Covestro Business Overview
7.9.3 Covestro Elastic Film Major Product Offerings
7.9.4 Covestro Elastic Film Sales and Revenue in Global (2018-2023)
7.9.5 Covestro Key News & Latest Developments
7.10 San Fang Chemical
7.10.1 San Fang Chemical Company Summary
7.10.2 San Fang Chemical Business Overview
7.10.3 San Fang Chemical Elastic Film Major Product Offerings
7.10.4 San Fang Chemical Elastic Film Sales and Revenue in Global (2018-2023)
7.10.5 San Fang Chemical Key News & Latest Developments
7.11 Nitto Denko
7.11.1 Nitto Denko Company Summary
7.11.2 Nitto Denko Business Overview
7.11.3 Nitto Denko Elastic Film Major Product Offerings
7.11.4 Nitto Denko Elastic Film Sales and Revenue in Global (2018-2023)
7.11.5 Nitto Denko Key News & Latest Developments
7.12 Sheedom
7.12.1 Sheedom Company Summary
7.12.2 Sheedom Business Overview
7.12.3 Sheedom Elastic Film Major Product Offerings
7.12.4 Sheedom Elastic Film Sales and Revenue in Global (2018-2023)
7.12.5 Sheedom Key News & Latest Developments
7.13 Mondi
7.13.1 Mondi Company Summary
7.13.2 Mondi Business Overview
7.13.3 Mondi Elastic Film Major Product Offerings
7.13.4 Mondi Elastic Film Sales and Revenue in Global (2018-2023)
7.13.5 Mondi Key News & Latest Developments
7.14 Hygenic
7.14.1 Hygenic Company Summary
7.14.2 Hygenic Business Overview
7.14.3 Hygenic Elastic Film Major Product Offerings
7.14.4 Hygenic Elastic Film Sales and Revenue in Global (2018-2023)
7.14.5 Hygenic Key News & Latest Developments
7.15 Jiangmen Hualong Membrane Material
7.15.1 Jiangmen Hualong Membrane Material Company Summary
7.15.2 Jiangmen Hualong Membrane Material Business Overview
7.15.3 Jiangmen Hualong Membrane Material Elastic Film Major Product Offerings
7.15.4 Jiangmen Hualong Membrane Material Elastic Film Sales and Revenue in Global (2018-2023)
7.15.5 Jiangmen Hualong Membrane Material Key News & Latest Developments
7.16 Shanghai DYPE
7.16.1 Shanghai DYPE Company Summary
7.16.2 Shanghai DYPE Business Overview
7.16.3 Shanghai DYPE Elastic Film Major Product Offerings
7.16.4 Shanghai DYPE Elastic Film Sales and Revenue in Global (2018-2023)
7.16.5 Shanghai DYPE Key News & Latest Developments
7.17 Wenzhou Tekang Elasticity
7.17.1 Wenzhou Tekang Elasticity Company Summary
7.17.2 Wenzhou Tekang Elasticity Business Overview
7.17.3 Wenzhou Tekang Elasticity Elastic Film Major Product Offerings
7.17.4 Wenzhou Tekang Elasticity Elastic Film Sales and Revenue in Global (2018-2023)
7.17.5 Wenzhou Tekang Elasticity Key News & Latest Developments
7.18 Shanghai Xin Gen Eco-Technologies
7.18.1 Shanghai Xin Gen Eco-Technologies Company Summary
7.18.2 Shanghai Xin Gen Eco-Technologies Business Overview
7.18.3 Shanghai Xin Gen Eco-Technologies Elastic Film Major Product Offerings
7.18.4 Shanghai Xin Gen Eco-Technologies Elastic Film Sales and Revenue in Global (2018-2023)
7.18.5 Shanghai Xin Gen Eco-Technologies Key News & Latest Developments
8 Global Elastic Film Production Capacity, Analysis
8.1 Global Elastic Film Production Capacity, 2018-2029
8.2 Elastic Film Production Capacity of Key Manufacturers in Global Market
8.3 Global Elastic Film Production by Region
9 Key Market Trends, Opportunity, Drivers and Restraints
9.1 Market Opportunities & Trends
9.2 Market Drivers
9.3 Market Restraints
10 Elastic Film Supply Chain Analysis
10.1 Elastic Film Industry Value Chain
10.2 Elastic Film Upstream Market
10.3 Elastic Film Downstream and Clients
10.4 Marketing Channels Analysis
10.4.1 Marketing Channels
10.4.2 Elastic Film Distributors and Sales Agents in Global
11 Conclusion
12 Appendix
12.1 Note
12.2 Examples of Clients
12.3 Disclaimer