Solar Tempered Photovoltaic Glass Market, Global Outlook and Forecast 2023-2029

Report ID
39942
Publisher
Market Monitor Global
Published Date
03-Nov
Delivery Format
PDF
No of Report Page
113
Editor's Rating
US $3,250.00
US $4,225.00
US $4,875.00
  • Report Details
    This research report provides a comprehensive analysis of the Solar Tempered Photovoltaic Glass market, focusing on the current trends, market dynamics, and future prospects. The report explores the global Solar Tempered Photovoltaic Glass market, including major regions such as North America, Europe, Asia-Pacific, and emerging markets. It also examines key factors driving the growth of Solar Tempered Photovoltaic Glass, challenges faced by the industry, and potential opportunities for market players.
    The global Solar Tempered Photovoltaic Glass market has witnessed rapid growth in recent years, driven by increasing environmental concerns, government incentives, and advancements in technology. The Solar Tempered Photovoltaic Glass market presents opportunities for various stakeholders, including Silicon Solar Cells, Thin Film Solar Cells. Collaboration between the private sector and governments can accelerate the development of supportive policies, research and development efforts, and investment in Solar Tempered Photovoltaic Glass market. Additionally, the growing consumer demand present avenues for market expansion.
    The global Solar Tempered Photovoltaic Glass market was valued at US$ million in 2022 and is projected to reach US$ million by 2029, at a CAGR of % during the forecast period.
    It is expected that global demand for photovoltaic products will remain high in the next few years. According to our PV & Solar Research Center, by the end of 2022, the global cumulative installed photovoltaic power generation capacity is about 1180 GW. According to the data of China Photovoltaic Industry Association, the global newly installed photovoltaic capacity in 2022 is about 230 GW, and this number in 2023 is predicted to be 280-330 GW. According to the data of the Ministry of Industry and Information Technology, the total output value of China's photovoltaic industry exceeded 1.4 trillion yuan in 2022. From the perspective of production value, mainland China is still the global center of the PV industry. According to the International Energy Agency, China market share in all key products of the supply chain have exceeded 80%. Among them, the production capacity of silicon wafers, solar cells, and components accounts for as high as 98%, 85% and 77%, respectively. According to the data released by the European Photovoltaic Association, 27 EU countries gained a new PV installed capacity of 41.4 GW in 2022. According to the report of the US Solar Energy Industries Association (SEIA), the US held a new PV installed capacity of less than 19 GW in 2022. But it is estimated that from 2023, the average annual growth rate of new photovoltaic installed capacity will exceed 21%. In terms of Japan, based on data from Fitch and the US Energy Information Administration (EIA), in 2022, Japan's newly installed photovoltaic capacity was 3.55 GW.
    Key Features:
    The research report on the Solar Tempered Photovoltaic Glass 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 Solar Tempered Photovoltaic Glass market.
    Market Overview: The report provides a comprehensive overview of the Solar Tempered Photovoltaic Glass market, including its definition, historical development, and current market size. It covers market segmentation by Type (e.g., Hola Type, Conventional Type), 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 Solar Tempered Photovoltaic Glass 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 Solar Tempered Photovoltaic Glass market's trajectory.
    Competitive Landscape: The report provides an in-depth analysis of the competitive landscape within the Solar Tempered Photovoltaic Glass 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 Solar Tempered Photovoltaic Glass 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 Solar Tempered Photovoltaic Glass 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 Solar Tempered Photovoltaic Glass 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 Solar Tempered Photovoltaic Glass, 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 Solar Tempered Photovoltaic Glass 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
    Solar Tempered Photovoltaic Glass 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
        Hola Type
        Conventional Type
    Market segment by Application
        Silicon Solar Cells
        Thin Film Solar Cells
    Global Solar Tempered Photovoltaic Glass 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
        Saint-Gobain
        NSG
        AGC
        Guardian Glass
        Interfloat
        Flat Glass Group
        Xinyi Solar Holdings
        AVIC Sanxin
        Changzhou Almaden
        Dongguan CSG Solar Glass
        Henan Ancai High-tech
        Rainbow Group Electronics
        Changzhou Huamei Photovoltaic Materials
        Jiangsu Xiuqiang Glass Technology
        Shenzhen Tuori New Energy Technology
        Henan Yuhua New Materials
    Outline of Major Chapters:
    Chapter 1: Introduces the definition of Solar Tempered Photovoltaic Glass, market overview.
    Chapter 2: Global Solar Tempered Photovoltaic Glass market size in revenue and volume.
    Chapter 3: Detailed analysis of Solar Tempered Photovoltaic Glass 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 Solar Tempered Photovoltaic Glass 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 Solar Tempered Photovoltaic Glass 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.
    
  • Table Of Content
    1 Introduction to Research & Analysis Reports
        1.1 Solar Tempered Photovoltaic Glass Market Definition
        1.2 Market Segments
            1.2.1 Market by Type
            1.2.2 Market by Application
        1.3 Global Solar Tempered Photovoltaic Glass 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 Solar Tempered Photovoltaic Glass Overall Market Size
        2.1 Global Solar Tempered Photovoltaic Glass Market Size: 2022 VS 2029
        2.2 Global Solar Tempered Photovoltaic Glass Revenue, Prospects & Forecasts: 2018-2029
        2.3 Global Solar Tempered Photovoltaic Glass Sales: 2018-2029
    3 Company Landscape
        3.1 Top Solar Tempered Photovoltaic Glass Players in Global Market
        3.2 Top Global Solar Tempered Photovoltaic Glass Companies Ranked by Revenue
        3.3 Global Solar Tempered Photovoltaic Glass Revenue by Companies
        3.4 Global Solar Tempered Photovoltaic Glass Sales by Companies
        3.5 Global Solar Tempered Photovoltaic Glass Price by Manufacturer (2018-2023)
        3.6 Top 3 and Top 5 Solar Tempered Photovoltaic Glass Companies in Global Market, by Revenue in 2022
        3.7 Global Manufacturers Solar Tempered Photovoltaic Glass Product Type
        3.8 Tier 1, Tier 2 and Tier 3 Solar Tempered Photovoltaic Glass Players in Global Market
            3.8.1 List of Global Tier 1 Solar Tempered Photovoltaic Glass Companies
            3.8.2 List of Global Tier 2 and Tier 3 Solar Tempered Photovoltaic Glass Companies
    4 Sights by Product
        4.1 Overview
            4.1.1 By Type - Global Solar Tempered Photovoltaic Glass Market Size Markets, 2022 & 2029
            4.1.2 Hola Type
            4.1.3 Conventional Type
        4.2 By Type - Global Solar Tempered Photovoltaic Glass Revenue & Forecasts
            4.2.1 By Type - Global Solar Tempered Photovoltaic Glass Revenue, 2018-2023
            4.2.2 By Type - Global Solar Tempered Photovoltaic Glass Revenue, 2024-2029
            4.2.3 By Type - Global Solar Tempered Photovoltaic Glass Revenue Market Share, 2018-2029
        4.3 By Type - Global Solar Tempered Photovoltaic Glass Sales & Forecasts
            4.3.1 By Type - Global Solar Tempered Photovoltaic Glass Sales, 2018-2023
            4.3.2 By Type - Global Solar Tempered Photovoltaic Glass Sales, 2024-2029
            4.3.3 By Type - Global Solar Tempered Photovoltaic Glass Sales Market Share, 2018-2029
        4.4 By Type - Global Solar Tempered Photovoltaic Glass Price (Manufacturers Selling Prices), 2018-2029
    5 Sights by Application
        5.1 Overview
            5.1.1 By Application - Global Solar Tempered Photovoltaic Glass Market Size, 2022 & 2029
            5.1.2 Silicon Solar Cells
            5.1.3 Thin Film Solar Cells
        5.2 By Application - Global Solar Tempered Photovoltaic Glass Revenue & Forecasts
            5.2.1 By Application - Global Solar Tempered Photovoltaic Glass Revenue, 2018-2023
            5.2.2 By Application - Global Solar Tempered Photovoltaic Glass Revenue, 2024-2029
            5.2.3 By Application - Global Solar Tempered Photovoltaic Glass Revenue Market Share, 2018-2029
        5.3 By Application - Global Solar Tempered Photovoltaic Glass Sales & Forecasts
            5.3.1 By Application - Global Solar Tempered Photovoltaic Glass Sales, 2018-2023
            5.3.2 By Application - Global Solar Tempered Photovoltaic Glass Sales, 2024-2029
            5.3.3 By Application - Global Solar Tempered Photovoltaic Glass Sales Market Share, 2018-2029
        5.4 By Application - Global Solar Tempered Photovoltaic Glass Price (Manufacturers Selling Prices), 2018-2029
    6 Sights by Region
        6.1 By Region - Global Solar Tempered Photovoltaic Glass Market Size, 2022 & 2029
        6.2 By Region - Global Solar Tempered Photovoltaic Glass Revenue & Forecasts
            6.2.1 By Region - Global Solar Tempered Photovoltaic Glass Revenue, 2018-2023
            6.2.2 By Region - Global Solar Tempered Photovoltaic Glass Revenue, 2024-2029
            6.2.3 By Region - Global Solar Tempered Photovoltaic Glass Revenue Market Share, 2018-2029
        6.3 By Region - Global Solar Tempered Photovoltaic Glass Sales & Forecasts
            6.3.1 By Region - Global Solar Tempered Photovoltaic Glass Sales, 2018-2023
            6.3.2 By Region - Global Solar Tempered Photovoltaic Glass Sales, 2024-2029
            6.3.3 By Region - Global Solar Tempered Photovoltaic Glass Sales Market Share, 2018-2029
        6.4 North America
            6.4.1 By Country - North America Solar Tempered Photovoltaic Glass Revenue, 2018-2029
            6.4.2 By Country - North America Solar Tempered Photovoltaic Glass Sales, 2018-2029
            6.4.3 US Solar Tempered Photovoltaic Glass Market Size, 2018-2029
            6.4.4 Canada Solar Tempered Photovoltaic Glass Market Size, 2018-2029
            6.4.5 Mexico Solar Tempered Photovoltaic Glass Market Size, 2018-2029
        6.5 Europe
            6.5.1 By Country - Europe Solar Tempered Photovoltaic Glass Revenue, 2018-2029
            6.5.2 By Country - Europe Solar Tempered Photovoltaic Glass Sales, 2018-2029
            6.5.3 Germany Solar Tempered Photovoltaic Glass Market Size, 2018-2029
            6.5.4 France Solar Tempered Photovoltaic Glass Market Size, 2018-2029
            6.5.5 U.K. Solar Tempered Photovoltaic Glass Market Size, 2018-2029
            6.5.6 Italy Solar Tempered Photovoltaic Glass Market Size, 2018-2029
            6.5.7 Russia Solar Tempered Photovoltaic Glass Market Size, 2018-2029
            6.5.8 Nordic Countries Solar Tempered Photovoltaic Glass Market Size, 2018-2029
            6.5.9 Benelux Solar Tempered Photovoltaic Glass Market Size, 2018-2029
        6.6 Asia
            6.6.1 By Region - Asia Solar Tempered Photovoltaic Glass Revenue, 2018-2029
            6.6.2 By Region - Asia Solar Tempered Photovoltaic Glass Sales, 2018-2029
            6.6.3 China Solar Tempered Photovoltaic Glass Market Size, 2018-2029
            6.6.4 Japan Solar Tempered Photovoltaic Glass Market Size, 2018-2029
            6.6.5 South Korea Solar Tempered Photovoltaic Glass Market Size, 2018-2029
            6.6.6 Southeast Asia Solar Tempered Photovoltaic Glass Market Size, 2018-2029
            6.6.7 India Solar Tempered Photovoltaic Glass Market Size, 2018-2029
        6.7 South America
            6.7.1 By Country - South America Solar Tempered Photovoltaic Glass Revenue, 2018-2029
            6.7.2 By Country - South America Solar Tempered Photovoltaic Glass Sales, 2018-2029
            6.7.3 Brazil Solar Tempered Photovoltaic Glass Market Size, 2018-2029
            6.7.4 Argentina Solar Tempered Photovoltaic Glass Market Size, 2018-2029
        6.8 Middle East & Africa
            6.8.1 By Country - Middle East & Africa Solar Tempered Photovoltaic Glass Revenue, 2018-2029
            6.8.2 By Country - Middle East & Africa Solar Tempered Photovoltaic Glass Sales, 2018-2029
            6.8.3 Turkey Solar Tempered Photovoltaic Glass Market Size, 2018-2029
            6.8.4 Israel Solar Tempered Photovoltaic Glass Market Size, 2018-2029
            6.8.5 Saudi Arabia Solar Tempered Photovoltaic Glass Market Size, 2018-2029
            6.8.6 UAE Solar Tempered Photovoltaic Glass Market Size, 2018-2029
    7 Manufacturers & Brands Profiles
        7.1 Saint-Gobain
            7.1.1 Saint-Gobain Company Summary
            7.1.2 Saint-Gobain Business Overview
            7.1.3 Saint-Gobain Solar Tempered Photovoltaic Glass Major Product Offerings
            7.1.4 Saint-Gobain Solar Tempered Photovoltaic Glass Sales and Revenue in Global (2018-2023)
            7.1.5 Saint-Gobain Key News & Latest Developments
        7.2 NSG
            7.2.1 NSG Company Summary
            7.2.2 NSG Business Overview
            7.2.3 NSG Solar Tempered Photovoltaic Glass Major Product Offerings
            7.2.4 NSG Solar Tempered Photovoltaic Glass Sales and Revenue in Global (2018-2023)
            7.2.5 NSG Key News & Latest Developments
        7.3 AGC
            7.3.1 AGC Company Summary
            7.3.2 AGC Business Overview
            7.3.3 AGC Solar Tempered Photovoltaic Glass Major Product Offerings
            7.3.4 AGC Solar Tempered Photovoltaic Glass Sales and Revenue in Global (2018-2023)
            7.3.5 AGC Key News & Latest Developments
        7.4 Guardian Glass
            7.4.1 Guardian Glass Company Summary
            7.4.2 Guardian Glass Business Overview
            7.4.3 Guardian Glass Solar Tempered Photovoltaic Glass Major Product Offerings
            7.4.4 Guardian Glass Solar Tempered Photovoltaic Glass Sales and Revenue in Global (2018-2023)
            7.4.5 Guardian Glass Key News & Latest Developments
        7.5 Interfloat
            7.5.1 Interfloat Company Summary
            7.5.2 Interfloat Business Overview
            7.5.3 Interfloat Solar Tempered Photovoltaic Glass Major Product Offerings
            7.5.4 Interfloat Solar Tempered Photovoltaic Glass Sales and Revenue in Global (2018-2023)
            7.5.5 Interfloat Key News & Latest Developments
        7.6 Flat Glass Group
            7.6.1 Flat Glass Group Company Summary
            7.6.2 Flat Glass Group Business Overview
            7.6.3 Flat Glass Group Solar Tempered Photovoltaic Glass Major Product Offerings
            7.6.4 Flat Glass Group Solar Tempered Photovoltaic Glass Sales and Revenue in Global (2018-2023)
            7.6.5 Flat Glass Group Key News & Latest Developments
        7.7 Xinyi Solar Holdings
            7.7.1 Xinyi Solar Holdings Company Summary
            7.7.2 Xinyi Solar Holdings Business Overview
            7.7.3 Xinyi Solar Holdings Solar Tempered Photovoltaic Glass Major Product Offerings
            7.7.4 Xinyi Solar Holdings Solar Tempered Photovoltaic Glass Sales and Revenue in Global (2018-2023)
            7.7.5 Xinyi Solar Holdings Key News & Latest Developments
        7.8 AVIC Sanxin
            7.8.1 AVIC Sanxin Company Summary
            7.8.2 AVIC Sanxin Business Overview
            7.8.3 AVIC Sanxin Solar Tempered Photovoltaic Glass Major Product Offerings
            7.8.4 AVIC Sanxin Solar Tempered Photovoltaic Glass Sales and Revenue in Global (2018-2023)
            7.8.5 AVIC Sanxin Key News & Latest Developments
        7.9 Changzhou Almaden
            7.9.1 Changzhou Almaden Company Summary
            7.9.2 Changzhou Almaden Business Overview
            7.9.3 Changzhou Almaden Solar Tempered Photovoltaic Glass Major Product Offerings
            7.9.4 Changzhou Almaden Solar Tempered Photovoltaic Glass Sales and Revenue in Global (2018-2023)
            7.9.5 Changzhou Almaden Key News & Latest Developments
        7.10 Dongguan CSG Solar Glass
            7.10.1 Dongguan CSG Solar Glass Company Summary
            7.10.2 Dongguan CSG Solar Glass Business Overview
            7.10.3 Dongguan CSG Solar Glass Solar Tempered Photovoltaic Glass Major Product Offerings
            7.10.4 Dongguan CSG Solar Glass Solar Tempered Photovoltaic Glass Sales and Revenue in Global (2018-2023)
            7.10.5 Dongguan CSG Solar Glass Key News & Latest Developments
        7.11 Henan Ancai High-tech
            7.11.1 Henan Ancai High-tech Company Summary
            7.11.2 Henan Ancai High-tech Business Overview
            7.11.3 Henan Ancai High-tech Solar Tempered Photovoltaic Glass Major Product Offerings
            7.11.4 Henan Ancai High-tech Solar Tempered Photovoltaic Glass Sales and Revenue in Global (2018-2023)
            7.11.5 Henan Ancai High-tech Key News & Latest Developments
        7.12 Rainbow Group Electronics
            7.12.1 Rainbow Group Electronics Company Summary
            7.12.2 Rainbow Group Electronics Business Overview
            7.12.3 Rainbow Group Electronics Solar Tempered Photovoltaic Glass Major Product Offerings
            7.12.4 Rainbow Group Electronics Solar Tempered Photovoltaic Glass Sales and Revenue in Global (2018-2023)
            7.12.5 Rainbow Group Electronics Key News & Latest Developments
        7.13 Changzhou Huamei Photovoltaic Materials
            7.13.1 Changzhou Huamei Photovoltaic Materials Company Summary
            7.13.2 Changzhou Huamei Photovoltaic Materials Business Overview
            7.13.3 Changzhou Huamei Photovoltaic Materials Solar Tempered Photovoltaic Glass Major Product Offerings
            7.13.4 Changzhou Huamei Photovoltaic Materials Solar Tempered Photovoltaic Glass Sales and Revenue in Global (2018-2023)
            7.13.5 Changzhou Huamei Photovoltaic Materials Key News & Latest Developments
        7.14 Jiangsu Xiuqiang Glass Technology
            7.14.1 Jiangsu Xiuqiang Glass Technology Company Summary
            7.14.2 Jiangsu Xiuqiang Glass Technology Business Overview
            7.14.3 Jiangsu Xiuqiang Glass Technology Solar Tempered Photovoltaic Glass Major Product Offerings
            7.14.4 Jiangsu Xiuqiang Glass Technology Solar Tempered Photovoltaic Glass Sales and Revenue in Global (2018-2023)
            7.14.5 Jiangsu Xiuqiang Glass Technology Key News & Latest Developments
        7.15 Shenzhen Tuori New Energy Technology
            7.15.1 Shenzhen Tuori New Energy Technology Company Summary
            7.15.2 Shenzhen Tuori New Energy Technology Business Overview
            7.15.3 Shenzhen Tuori New Energy Technology Solar Tempered Photovoltaic Glass Major Product Offerings
            7.15.4 Shenzhen Tuori New Energy Technology Solar Tempered Photovoltaic Glass Sales and Revenue in Global (2018-2023)
            7.15.5 Shenzhen Tuori New Energy Technology Key News & Latest Developments
        7.16 Henan Yuhua New Materials
            7.16.1 Henan Yuhua New Materials Company Summary
            7.16.2 Henan Yuhua New Materials Business Overview
            7.16.3 Henan Yuhua New Materials Solar Tempered Photovoltaic Glass Major Product Offerings
            7.16.4 Henan Yuhua New Materials Solar Tempered Photovoltaic Glass Sales and Revenue in Global (2018-2023)
            7.16.5 Henan Yuhua New Materials Key News & Latest Developments
    8 Global Solar Tempered Photovoltaic Glass Production Capacity, Analysis
        8.1 Global Solar Tempered Photovoltaic Glass Production Capacity, 2018-2029
        8.2 Solar Tempered Photovoltaic Glass Production Capacity of Key Manufacturers in Global Market
        8.3 Global Solar Tempered Photovoltaic Glass 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 Solar Tempered Photovoltaic Glass Supply Chain Analysis
        10.1 Solar Tempered Photovoltaic Glass Industry Value Chain
        10.2 Solar Tempered Photovoltaic Glass Upstream Market
        10.3 Solar Tempered Photovoltaic Glass Downstream and Clients
        10.4 Marketing Channels Analysis
            10.4.1 Marketing Channels
            10.4.2 Solar Tempered Photovoltaic Glass Distributors and Sales Agents in Global
    11 Conclusion
    12 Appendix
        12.1 Note
        12.2 Examples of Clients
        12.3 Disclaimer
    
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