▶ 調査レポート

世界のC5-C8ノルマルパラフィン市場予測(~2028年):C5~C6、C7~C8、多成分(C5~C8)

• 英文タイトル:Global C5-C8 Normal Paraffin Market 2022 by Manufacturers, Regions, Type and Application, Forecast to 2028

GlobalInfoResearchが調査・発行した産業分析レポートです。世界のC5-C8ノルマルパラフィン市場予測(~2028年):C5~C6、C7~C8、多成分(C5~C8) / Global C5-C8 Normal Paraffin Market 2022 by Manufacturers, Regions, Type and Application, Forecast to 2028 / GIR-22E0755資料のイメージです。• レポートコード:GIR-22E0755
• 出版社/出版日:GlobalInfoResearch / 2022年5月
• レポート形態:英文、PDF、119ページ
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• 産業分類:化学&材料
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レポート概要
C5-C8ノルマルパラフィン市場レポートは、世界の市場規模、地域および国レベルの市場規模、セグメント市場の成長性、市場シェア、競争環境、販売分析、国内および世界の市場プレーヤーの影響、バリューチェーンの最適化、最近の動向、機会分析、市場成長の戦略的な分析、製品発売、地域市場の拡大などに関する情報を提供します。
GlobalInfoResearchの最新の調査によると、世界のC5-C8ノルマルパラフィンの市場規模は2021年のxxx米ドルから2028年にはxxx米ドルと推定され、xxx%の成長率で成長すると予想されます。

C5-C8ノルマルパラフィン市場は種類と用途によって区分されます。2017年~2028年において、量と金額の観点から種類別および用途別セグメントの売上予測データを提供します。この分析は、適格なニッチ市場をターゲットにすることでビジネスを拡大するのに役立ちます。

種類別セグメントは次をカバーします。
・C5~C6、C7~C8、多成分(C5~C8)

用途別セグメントは次のように区分されます。
・ガソリンブレンディング、化学品中間体

世界のC5-C8ノルマルパラフィン市場の主要な市場プレーヤーは以下のとおりです。
・ExxonMobil、BP、Royal Dutch Shell.、China Petroleum & Chemical、Phillips 66 Company、Calumet Specialty Products Partners、Indian Oil Corporation、Sasol、Compañía Española de Petróleos (CEPSA)、Petrobras、Rompetrol Rafinare、Thai Oil Public Company、Bharat Petroleum、The Linde Group、Air Liquide、Neste Oyj、Oil Co. Lukoil PJSC、Ergon、Junyuan Petroleum Group

地域別セグメントは次の地域・国をカバーします。
・北米(米国、カナダ、メキシコ)
・ヨーロッパ(ドイツ、フランス、イギリス、ロシア、イタリア)
・アジア太平洋(日本、中国、韓国、インド、東南アジア、オーストラリア)
・南アメリカ(ブラジル、アルゼンチン、コロンビア)
・中東およびアフリカ(サウジアラビア、UAE、エジプト、南アフリカ)

本調査レポートの内容は計15章あります。
・第1章では、C5-C8ノルマルパラフィン製品の調査範囲、市場の概要、市場の成長要因・阻害要因、および市場動向について説明します。
・第2章では、主要なC5-C8ノルマルパラフィンメーカーの企業概要、2019年~2022年までのC5-C8ノルマルパラフィンの価格、販売量、売上、市場シェアを掲載しています。
・第3章では、主要なC5-C8ノルマルパラフィンメーカーの競争状況、販売量、売上、世界市場シェアが重点的に比較分析されています。
・第4章では、2017年~2028年までの地域別C5-C8ノルマルパラフィンの販売量、売上、成長性を示しています。
・第5、6章では、2017年~2028年までのC5-C8ノルマルパラフィンの種類別と用途別の市場規模、市場シェアと成長率を掲載しています。
・第7、8、9、10、11章では、2017年~2022年までの世界の主要国での販売量、売上、市場シェア、並びに2023年~2028年までの主要地域でのC5-C8ノルマルパラフィン市場予測を収録しています。
・第12章では、主要な原材料、主要なサプライヤー、およびC5-C8ノルマルパラフィンの産業チェーンを掲載しています。
・第13、14、15章では、C5-C8ノルマルパラフィンの販売チャネル、販売業者、顧客、調査結果と結論、付録、データソースなどについて説明します。

***** 目次(一部) *****

・市場概要
・メーカー情報(企業概要、製品概要、販売量、価格、売上):ExxonMobil、BP、Royal Dutch Shell.、China Petroleum & Chemical、Phillips 66 Company、Calumet Specialty Products Partners、Indian Oil Corporation、Sasol、Compañía Española de Petróleos (CEPSA)、Petrobras、Rompetrol Rafinare、Thai Oil Public Company、Bharat Petroleum、The Linde Group、Air Liquide、Neste Oyj、Oil Co. Lukoil PJSC、Ergon、Junyuan Petroleum Group
・メーカー別市場シェア
・地域別市場分析2017年-2028年
・種類別分析2017年-2028年:C5~C6、C7~C8、多成分(C5~C8)
・用途別分析2017年-2028年:ガソリンブレンディング、化学品中間体
・C5-C8ノルマルパラフィンの北米市場規模2017年-2028年:アメリカ、カナダ、メキシコ
・C5-C8ノルマルパラフィンのヨーロッパ市場規模2017年-2028年:ドイツ、イギリス、フランス、ロシア、イタリア
・C5-C8ノルマルパラフィンのアジア市場規模2017年-2028年:中国、日本、韓国、インド、東南アジア、オーストラリア
・C5-C8ノルマルパラフィンの南米市場規模2017年-2028年:ブラジル、アルゼンチン
・C5-C8ノルマルパラフィンの中東・アフリカ市場規模2017年-2028年:サウジアラビア、トルコ、エジプト、南アフリカ
・原材料および産業チェーン
・販売チャネル、流通業者・代理店、顧客リスト
・調査の結果・結論

The C5-C8 Normal Paraffin market report provides a detailed analysis of global market size, regional and country-level market size, segmentation market growth, market share, competitive Landscape, sales analysis, impact of domestic and global market players, value chain optimization, trade regulations, recent developments, opportunities analysis, strategic market growth analysis, product launches, area marketplace expanding, and technological innovations.
According to our (Global Info Research) latest study, due to COVID-19 pandemic, the global C5-C8 Normal Paraffin market size is estimated to be worth US$ 40030 million in 2021 and is forecast to a readjusted size of USD 44700 million by 2028 with a CAGR of 1.6% during review period. Gasoline Blending accounting for % of the C5-C8 Normal Paraffin global market in 2021, is projected to value USD million by 2028, growing at a % CAGR in next six years. While C5 – C6 segment is altered to a % CAGR between 2022 and 2028.
Global key manufacturers of C5-C8 Normal Paraffin include ExxonMobil, BP, Royal Dutch Shell., China Petroleum & Chemical, and Phillips 66 Company, etc. In terms of revenue, the global top four players hold a share over % in 2021.
Market segmentation
C5-C8 Normal Paraffin market is split by Type and by Application. For the period 2017-2028, the growth among segments provide accurate calculations and forecasts for sales by Type and by Application in terms of volume and value. This analysis can help you expand your business by targeting qualified niche markets.
Market segment by Type, covers
C5 – C6
C7 – C8
Multicomponent (C5 – C8)
Market segment by Application can be divided into
Gasoline Blending
Chemical Intermediate
The key market players for global C5-C8 Normal Paraffin market are listed below:
ExxonMobil
BP
Royal Dutch Shell.
China Petroleum & Chemical
Phillips 66 Company
Calumet Specialty Products Partners
Indian Oil Corporation
Sasol
Compañía Española de Petróleos (CEPSA)
Petrobras
Rompetrol Rafinare
Thai Oil Public Company
Bharat Petroleum
The Linde Group
Air Liquide
Neste Oyj
Oil Co. Lukoil PJSC
Ergon
Junyuan Petroleum Group
Market segment by region, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)
The content of the study subjects, includes a total of 15 chapters:
Chapter 1, to describe C5-C8 Normal Paraffin product scope, market overview, market opportunities, market driving force and market risks.
Chapter 2, to profile the top manufacturers of C5-C8 Normal Paraffin, with price, sales, revenue and global market share of C5-C8 Normal Paraffin from 2019 to 2022.
Chapter 3, the C5-C8 Normal Paraffin competitive situation, sales, revenue and global market share of top manufacturers are analyzed emphatically by landscape contrast.
Chapter 4, the C5-C8 Normal Paraffin breakdown data are shown at the regional level, to show the sales, revenue and growth by regions, from 2017 to 2028.
Chapter 5 and 6, to segment the sales by Type and application, with sales market share and growth rate by type, application, from 2017 to 2028.
Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales, revenue and market share for key countries in the world, from 2017 to 2022.and C5-C8 Normal Paraffin market forecast, by regions, type and application, with sales and revenue, from 2023 to 2028.
Chapter 12, the key raw materials and key suppliers, and industry chain of C5-C8 Normal Paraffin.
Chapter 13, 14, and 15, to describe C5-C8 Normal Paraffin sales channel, distributors, customers, research findings and conclusion, appendix and data source.

レポート目次

1 Market Overview
1.1 C5-C8 Normal Paraffin Introduction
1.2 Market Analysis by Type
1.2.1 Overview: Global C5-C8 Normal Paraffin Revenue by Type: 2017 Versus 2021 Versus 2028
1.2.2 C5 – C6
1.2.3 C7 – C8
1.2.4 Multicomponent (C5 – C8)
1.3 Market Analysis by Application
1.3.1 Overview: Global C5-C8 Normal Paraffin Revenue by Application: 2017 Versus 2021 Versus 2028
1.3.2 Gasoline Blending
1.3.3 Chemical Intermediate
1.4 Global C5-C8 Normal Paraffin Market Size & Forecast
1.4.1 Global C5-C8 Normal Paraffin Sales in Value (2017 & 2021 & 2028)
1.4.2 Global C5-C8 Normal Paraffin Sales in Volume (2017-2028)
1.4.3 Global C5-C8 Normal Paraffin Price (2017-2028)
1.5 Global C5-C8 Normal Paraffin Production Capacity Analysis
1.5.1 Global C5-C8 Normal Paraffin Total Production Capacity (2017-2028)
1.5.2 Global C5-C8 Normal Paraffin Production Capacity by Geographic Region
1.6 Market Drivers, Restraints and Trends
1.6.1 C5-C8 Normal Paraffin Market Drivers
1.6.2 C5-C8 Normal Paraffin Market Restraints
1.6.3 C5-C8 Normal Paraffin Trends Analysis
2 Manufacturers Profiles
2.1 ExxonMobil
2.1.1 ExxonMobil Details
2.1.2 ExxonMobil Major Business
2.1.3 ExxonMobil C5-C8 Normal Paraffin Product and Services
2.1.4 ExxonMobil C5-C8 Normal Paraffin Sales, Price, Revenue, Gross Margin and Market Share (2019, 2020, 2021, and 2022)
2.2 BP
2.2.1 BP Details
2.2.2 BP Major Business
2.2.3 BP C5-C8 Normal Paraffin Product and Services
2.2.4 BP C5-C8 Normal Paraffin Sales, Price, Revenue, Gross Margin and Market Share (2019, 2020, 2021, and 2022)
2.3 Royal Dutch Shell.
2.3.1 Royal Dutch Shell. Details
2.3.2 Royal Dutch Shell. Major Business
2.3.3 Royal Dutch Shell. C5-C8 Normal Paraffin Product and Services
2.3.4 Royal Dutch Shell. C5-C8 Normal Paraffin Sales, Price, Revenue, Gross Margin and Market Share (2019, 2020, 2021, and 2022)
2.4 China Petroleum & Chemical
2.4.1 China Petroleum & Chemical Details
2.4.2 China Petroleum & Chemical Major Business
2.4.3 China Petroleum & Chemical C5-C8 Normal Paraffin Product and Services
2.4.4 China Petroleum & Chemical C5-C8 Normal Paraffin Sales, Price, Revenue, Gross Margin and Market Share (2019, 2020, 2021, and 2022)
2.5 Phillips 66 Company
2.5.1 Phillips 66 Company Details
2.5.2 Phillips 66 Company Major Business
2.5.3 Phillips 66 Company C5-C8 Normal Paraffin Product and Services
2.5.4 Phillips 66 Company C5-C8 Normal Paraffin Sales, Price, Revenue, Gross Margin and Market Share (2019, 2020, 2021, and 2022)
2.6 Calumet Specialty Products Partners
2.6.1 Calumet Specialty Products Partners Details
2.6.2 Calumet Specialty Products Partners Major Business
2.6.3 Calumet Specialty Products Partners C5-C8 Normal Paraffin Product and Services
2.6.4 Calumet Specialty Products Partners C5-C8 Normal Paraffin Sales, Price, Revenue, Gross Margin and Market Share (2019, 2020, 2021, and 2022)
2.7 Indian Oil Corporation
2.7.1 Indian Oil Corporation Details
2.7.2 Indian Oil Corporation Major Business
2.7.3 Indian Oil Corporation C5-C8 Normal Paraffin Product and Services
2.7.4 Indian Oil Corporation C5-C8 Normal Paraffin Sales, Price, Revenue, Gross Margin and Market Share (2019, 2020, 2021, and 2022)
2.8 Sasol
2.8.1 Sasol Details
2.8.2 Sasol Major Business
2.8.3 Sasol C5-C8 Normal Paraffin Product and Services
2.8.4 Sasol C5-C8 Normal Paraffin Sales, Price, Revenue, Gross Margin and Market Share (2019, 2020, 2021, and 2022)
2.9 Compañía Española de Petróleos (CEPSA)
2.9.1 Compañía Española de Petróleos (CEPSA) Details
2.9.2 Compañía Española de Petróleos (CEPSA) Major Business
2.9.3 Compañía Española de Petróleos (CEPSA) C5-C8 Normal Paraffin Product and Services
2.9.4 Compañía Española de Petróleos (CEPSA) C5-C8 Normal Paraffin Sales, Price, Revenue, Gross Margin and Market Share (2019, 2020, 2021, and 2022)
2.10 Petrobras
2.10.1 Petrobras Details
2.10.2 Petrobras Major Business
2.10.3 Petrobras C5-C8 Normal Paraffin Product and Services
2.10.4 Petrobras C5-C8 Normal Paraffin Sales, Price, Revenue, Gross Margin and Market Share (2019, 2020, 2021, and 2022)
2.11 Rompetrol Rafinare
2.11.1 Rompetrol Rafinare Details
2.11.2 Rompetrol Rafinare Major Business
2.11.3 Rompetrol Rafinare C5-C8 Normal Paraffin Product and Services
2.11.4 Rompetrol Rafinare C5-C8 Normal Paraffin Sales, Price, Revenue, Gross Margin and Market Share (2019, 2020, 2021, and 2022)
2.12 Thai Oil Public Company
2.12.1 Thai Oil Public Company Details
2.12.2 Thai Oil Public Company Major Business
2.12.3 Thai Oil Public Company C5-C8 Normal Paraffin Product and Services
2.12.4 Thai Oil Public Company C5-C8 Normal Paraffin Sales, Price, Revenue, Gross Margin and Market Share (2019, 2020, 2021, and 2022)
2.13 Bharat Petroleum
2.13.1 Bharat Petroleum Details
2.13.2 Bharat Petroleum Major Business
2.13.3 Bharat Petroleum C5-C8 Normal Paraffin Product and Services
2.13.4 Bharat Petroleum C5-C8 Normal Paraffin Sales, Price, Revenue, Gross Margin and Market Share (2019, 2020, 2021, and 2022)
2.14 The Linde Group
2.14.1 The Linde Group Details
2.14.2 The Linde Group Major Business
2.14.3 The Linde Group C5-C8 Normal Paraffin Product and Services
2.14.4 The Linde Group C5-C8 Normal Paraffin Sales, Price, Revenue, Gross Margin and Market Share (2019, 2020, 2021, and 2022)
2.15 Air Liquide
2.15.1 Air Liquide Details
2.15.2 Air Liquide Major Business
2.15.3 Air Liquide C5-C8 Normal Paraffin Product and Services
2.15.4 Air Liquide C5-C8 Normal Paraffin Sales, Price, Revenue, Gross Margin and Market Share (2019, 2020, 2021, and 2022)
2.16 Neste Oyj
2.16.1 Neste Oyj Details
2.16.2 Neste Oyj Major Business
2.16.3 Neste Oyj C5-C8 Normal Paraffin Product and Services
2.16.4 Neste Oyj C5-C8 Normal Paraffin Sales, Price, Revenue, Gross Margin and Market Share (2019, 2020, 2021, and 2022)
2.17 Oil Co. Lukoil PJSC
2.17.1 Oil Co. Lukoil PJSC Details
2.17.2 Oil Co. Lukoil PJSC Major Business
2.17.3 Oil Co. Lukoil PJSC C5-C8 Normal Paraffin Product and Services
2.17.4 Oil Co. Lukoil PJSC C5-C8 Normal Paraffin Sales, Price, Revenue, Gross Margin and Market Share (2019, 2020, 2021, and 2022)
2.18 Ergon
2.18.1 Ergon Details
2.18.2 Ergon Major Business
2.18.3 Ergon C5-C8 Normal Paraffin Product and Services
2.18.4 Ergon C5-C8 Normal Paraffin Sales, Price, Revenue, Gross Margin and Market Share (2019, 2020, 2021, and 2022)
2.19 Junyuan Petroleum Group
2.19.1 Junyuan Petroleum Group Details
2.19.2 Junyuan Petroleum Group Major Business
2.19.3 Junyuan Petroleum Group C5-C8 Normal Paraffin Product and Services
2.19.4 Junyuan Petroleum Group C5-C8 Normal Paraffin Sales, Price, Revenue, Gross Margin and Market Share (2019, 2020, 2021, and 2022)
3 C5-C8 Normal Paraffin Breakdown Data by Manufacturer
3.1 Global C5-C8 Normal Paraffin Sales in Volume by Manufacturer (2019, 2020, 2021, and 2022)
3.2 Global C5-C8 Normal Paraffin Revenue by Manufacturer (2019, 2020, 2021, and 2022)
3.3 Key Manufacturer Market Position in C5-C8 Normal Paraffin
3.4 Market Concentration Rate
3.4.1 Top 3 C5-C8 Normal Paraffin Manufacturer Market Share in 2021
3.4.2 Top 6 C5-C8 Normal Paraffin Manufacturer Market Share in 2021
3.5 Global C5-C8 Normal Paraffin Production Capacity by Company: 2021 VS 2022
3.6 Manufacturer by Geography: Head Office and C5-C8 Normal Paraffin Production Site
3.7 New Entrant and Capacity Expansion Plans
3.8 Mergers & Acquisitions
4 Market Analysis by Region
4.1 Global C5-C8 Normal Paraffin Market Size by Region
4.1.1 Global C5-C8 Normal Paraffin Sales in Volume by Region (2017-2028)
4.1.2 Global C5-C8 Normal Paraffin Revenue by Region (2017-2028)
4.2 North America C5-C8 Normal Paraffin Revenue (2017-2028)
4.3 Europe C5-C8 Normal Paraffin Revenue (2017-2028)
4.4 Asia-Pacific C5-C8 Normal Paraffin Revenue (2017-2028)
4.5 South America C5-C8 Normal Paraffin Revenue (2017-2028)
4.6 Middle East and Africa C5-C8 Normal Paraffin Revenue (2017-2028)
5 Market Segment by Type
5.1 Global C5-C8 Normal Paraffin Sales in Volume by Type (2017-2028)
5.2 Global C5-C8 Normal Paraffin Revenue by Type (2017-2028)
5.3 Global C5-C8 Normal Paraffin Price by Type (2017-2028)
6 Market Segment by Application
6.1 Global C5-C8 Normal Paraffin Sales in Volume by Application (2017-2028)
6.2 Global C5-C8 Normal Paraffin Revenue by Application (2017-2028)
6.3 Global C5-C8 Normal Paraffin Price by Application (2017-2028)
7 North America by Country, by Type, and by Application
7.1 North America C5-C8 Normal Paraffin Sales by Type (2017-2028)
7.2 North America C5-C8 Normal Paraffin Sales by Application (2017-2028)
7.3 North America C5-C8 Normal Paraffin Market Size by Country
7.3.1 North America C5-C8 Normal Paraffin Sales in Volume by Country (2017-2028)
7.3.2 North America C5-C8 Normal Paraffin Revenue by Country (2017-2028)
7.3.3 United States Market Size and Forecast (2017-2028)
7.3.4 Canada Market Size and Forecast (2017-2028)
7.3.5 Mexico Market Size and Forecast (2017-2028)
8 Europe by Country, by Type, and by Application
8.1 Europe C5-C8 Normal Paraffin Sales by Type (2017-2028)
8.2 Europe C5-C8 Normal Paraffin Sales by Application (2017-2028)
8.3 Europe C5-C8 Normal Paraffin Market Size by Country
8.3.1 Europe C5-C8 Normal Paraffin Sales in Volume by Country (2017-2028)
8.3.2 Europe C5-C8 Normal Paraffin Revenue by Country (2017-2028)
8.3.3 Germany Market Size and Forecast (2017-2028)
8.3.4 France Market Size and Forecast (2017-2028)
8.3.5 United Kingdom Market Size and Forecast (2017-2028)
8.3.6 Russia Market Size and Forecast (2017-2028)
8.3.7 Italy Market Size and Forecast (2017-2028)
9 Asia-Pacific by Region, by Type, and by Application
9.1 Asia-Pacific C5-C8 Normal Paraffin Sales by Type (2017-2028)
9.2 Asia-Pacific C5-C8 Normal Paraffin Sales by Application (2017-2028)
9.3 Asia-Pacific C5-C8 Normal Paraffin Market Size by Region
9.3.1 Asia-Pacific C5-C8 Normal Paraffin Sales in Volume by Region (2017-2028)
9.3.2 Asia-Pacific C5-C8 Normal Paraffin Revenue by Region (2017-2028)
9.3.3 China Market Size and Forecast (2017-2028)
9.3.4 Japan Market Size and Forecast (2017-2028)
9.3.5 Korea Market Size and Forecast (2017-2028)
9.3.6 India Market Size and Forecast (2017-2028)
9.3.7 Southeast Asia Market Size and Forecast (2017-2028)
9.3.8 Australia Market Size and Forecast (2017-2028)
10 South America by Region, by Type, and by Application
10.1 South America C5-C8 Normal Paraffin Sales by Type (2017-2028)
10.2 South America C5-C8 Normal Paraffin Sales by Application (2017-2028)
10.3 South America C5-C8 Normal Paraffin Market Size by Country
10.3.1 South America C5-C8 Normal Paraffin Sales in Volume by Country (2017-2028)
10.3.2 South America C5-C8 Normal Paraffin Revenue by Country (2017-2028)
10.3.3 Brazil Market Size and Forecast (2017-2028)
10.3.4 Argentina Market Size and Forecast (2017-2028)
11 Middle East & Africa by Country, by Type, and by Application
11.1 Middle East & Africa C5-C8 Normal Paraffin Sales by Type (2017-2028)
11.2 Middle East & Africa C5-C8 Normal Paraffin Sales by Application (2017-2028)
11.3 Middle East & Africa C5-C8 Normal Paraffin Market Size by Country
11.3.1 Middle East & Africa C5-C8 Normal Paraffin Sales in Volume by Country (2017-2028)
11.3.2 Middle East & Africa C5-C8 Normal Paraffin Revenue by Country (2017-2028)
11.3.3 Turkey Market Size and Forecast (2017-2028)
11.3.4 Egypt Market Size and Forecast (2017-2028)
11.3.5 Saudi Arabia Market Size and Forecast (2017-2028)
11.3.6 South Africa Market Size and Forecast (2017-2028)
12 Raw Material and Industry Chain
12.1 Raw Material of C5-C8 Normal Paraffin and Key Manufacturers
12.2 Manufacturing Costs Percentage of C5-C8 Normal Paraffin
12.3 C5-C8 Normal Paraffin Production Process
12.4 C5-C8 Normal Paraffin Industrial Chain
13 Sales Channel, Distributors, Traders and Dealers
13.1 Sales Channel
13.1.1 Direct Marketing
13.1.2 Indirect Marketing
13.2 C5-C8 Normal Paraffin Typical Distributors
13.3 C5-C8 Normal Paraffin Typical Customers
14 Research Findings and Conclusion
15 Appendix
15.1 Methodology
15.2 Research Process and Data Source
15.3 Disclaimer