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Product Type Insights Global markets are presented by Vitamin C Ethyl Ether purity, along with growth forecasts through 2029. Estimates on production and value are based on the price in the supply chain at which the Vitamin C Ethyl Ether 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). Vitamin C Ethyl Ether segment by Purity Purity above 98% Purity above 99% Purity above 99.5% 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 Vitamin C Ethyl Ether 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 Vitamin C Ethyl Ether market. Vitamin C Ethyl Ether segment by Application Cosmetics Food Medicine and Health Products Industry 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 United States 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 Colombia 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 Vitamin C Ethyl Ether 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 Vitamin C Ethyl Ether 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 Vitamin C Ethyl Ether 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 Vitamin C Ethyl Ether 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 Vitamin C Ethyl Ether. 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 Vitamin C Ethyl Ether 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 Vitamin C Ethyl Ether 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 Vitamin C Ethyl Ether 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 purity, 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. China Japan South Korea India Australia China Taiwan Indonesia Thailand Malaysia Latin America Mexico Brazil Argentina Colombia 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 Vitamin C Ethyl Ether 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 Vitamin C Ethyl Ether 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 Vitamin C Ethyl Ether 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 Vitamin C Ethyl Ether 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 Vitamin C Ethyl Ether. This report helps stakeholders to identify some of the key players in the market and understand their valuable contribution. Core Chapters Chapter 1: 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 2: Detailed analysis of Vitamin C Ethyl Ether manufacturers competitive landscape, price, output and revenue market share, latest development plan, merger, and acquisition information, etc. Chapter 3: Production/output, value of Vitamin C Ethyl Ether by region/country. It provides a quantitative analysis of the market size and development potential of each region in the next six years. Chapter 4: Consumption of Vitamin C Ethyl Ether 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 capacity of each country in the world. Chapter 5: Provides the analysis of various market segments according to product purity, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments. Chapter 6: Provides the analysis of various market segments according to 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 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product production/output, revenue, , price, gross margin, product introduction, recent development, etc. Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry. Chapter 9: Analysis of sales channel, distributors and customers 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: Production and supply forecast, global and regional Chapter 12: Consumption and demand forecast, global and regional Chapter 13: Forecast by purity and by application. It provides a quantitative analysis of the market size and development potential of each market segment in the next six years. Chapter 14: The main points and conclusions of the report. Frequently Asked Questions Which product segment grabbed the largest share in the Product Name market? How is the competitive scenario of the Product Name market? Which are the key factors aiding the Product Name market growth? Which are the prominent players in the Product Name market? Which region holds the maximum share in the Product Name market? What will be the CAGR of the Product Name market during the forecast period? Which application segment emerged as the leading segment in the Product Name market? What key trends are likely to emerge in the Product Name market in the coming years? What will be the Product Name market size by 2028? Which company held the largest share in the Product Name market?
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 Vitamin C Ethyl Ether by Purity 2.2.1 Market Value Comparison by Purity (2018 VS 2022 VS 2029) & (US$ Million) 1.2.2 Purity above 98% 1.2.3 Purity above 99% 1.2.4 Purity above 99.5% 2.3 Vitamin C Ethyl Ether by Application 2.3.1 Market Value Comparison by Application (2018 VS 2022 VS 2029) & (US$ Million) 2.3.2 Cosmetics 2.3.3 Food 2.3.4 Medicine and Health Products Industry 2.4 Global Market Growth Prospects 2.4.1 Global Vitamin C Ethyl Ether Production Value Estimates and Forecasts (2018-2029) 2.4.2 Global Vitamin C Ethyl Ether Production Capacity Estimates and Forecasts (2018-2029) 2.4.3 Global Vitamin C Ethyl Ether Production Estimates and Forecasts (2018-2029) 2.4.4 Global Vitamin C Ethyl Ether Market Average Price (2018-2029) 3 Market Competitive Landscape by Manufacturers 3.1 Global Vitamin C Ethyl Ether Production by Manufacturers (2018-2023) 3.2 Global Vitamin C Ethyl Ether Production Value by Manufacturers (2018-2023) 3.3 Global Vitamin C Ethyl Ether Average Price by Manufacturers (2018-2023) 3.4 Global Vitamin C Ethyl Ether Industry Manufacturers Ranking, 2021 VS 2022 VS 2023 3.5 Global Vitamin C Ethyl Ether Key Manufacturers, Manufacturing Sites & Headquarters 3.6 Global Vitamin C Ethyl Ether Manufacturers, Product Type & Application 3.7 Global Vitamin C Ethyl Ether Manufacturers, Date of Enter into This Industry 3.8 Global Vitamin C Ethyl Ether Market CR5 and HHI 3.9 Global Manufacturers Mergers & Acquisition 4 Manufacturers Profiled 4.1 Bisor Corporation 4.1.1 Bisor Corporation Vitamin C Ethyl Ether Company Information 4.1.2 Bisor Corporation Vitamin C Ethyl Ether Business Overview 4.1.3 Bisor Corporation Vitamin C Ethyl Ether Production Capacity, Value and Gross Margin (2018-2023) 4.1.4 Bisor Corporation Product Portfolio 4.1.5 Bisor Corporation Recent Developments 4.2 Spec Chem Group 4.2.1 Spec Chem Group Vitamin C Ethyl Ether Company Information 4.2.2 Spec Chem Group Vitamin C Ethyl Ether Business Overview 4.2.3 Spec Chem Group Vitamin C Ethyl Ether Production Capacity, Value and Gross Margin (2018-2023) 4.2.4 Spec Chem Group Product Portfolio 4.2.5 Spec Chem Group Recent Developments 4.3 GREAF 4.3.1 GREAF Vitamin C Ethyl Ether Company Information 4.3.2 GREAF Vitamin C Ethyl Ether Business Overview 4.3.3 GREAF Vitamin C Ethyl Ether Production Capacity, Value and Gross Margin (2018-2023) 4.3.4 GREAF Product Portfolio 4.3.5 GREAF Recent Developments 4.4 Yantai Aurora Chemical 4.4.1 Yantai Aurora Chemical Vitamin C Ethyl Ether Company Information 4.4.2 Yantai Aurora Chemical Vitamin C Ethyl Ether Business Overview 4.4.3 Yantai Aurora Chemical Vitamin C Ethyl Ether Production Capacity, Value and Gross Margin (2018-2023) 4.4.4 Yantai Aurora Chemical Product Portfolio 4.4.5 Yantai Aurora Chemical Recent Developments 4.5 Nippon Fine Chemical 4.5.1 Nippon Fine Chemical Vitamin C Ethyl Ether Company Information 4.5.2 Nippon Fine Chemical Vitamin C Ethyl Ether Business Overview 4.5.3 Nippon Fine Chemical Vitamin C Ethyl Ether Production Capacity, Value and Gross Margin (2018-2023) 4.5.4 Nippon Fine Chemical Product Portfolio 4.5.5 Nippon Fine Chemical Recent Developments 4.6 CosMol 4.6.1 CosMol Vitamin C Ethyl Ether Company Information 4.6.2 CosMol Vitamin C Ethyl Ether Business Overview 4.6.3 CosMol Vitamin C Ethyl Ether Production Capacity, Value and Gross Margin (2018-2023) 4.6.4 CosMol Product Portfolio 4.6.5 CosMol Recent Developments 4.7 MCBIOTEC 4.7.1 MCBIOTEC Vitamin C Ethyl Ether Company Information 4.7.2 MCBIOTEC Vitamin C Ethyl Ether Business Overview 4.7.3 MCBIOTEC Vitamin C Ethyl Ether Production Capacity, Value and Gross Margin (2018-2023) 4.7.4 MCBIOTEC Product Portfolio 4.7.5 MCBIOTEC Recent Developments 4.8 GfN & Selco 4.8.1 GfN & Selco Vitamin C Ethyl Ether Company Information 4.8.2 GfN & Selco Vitamin C Ethyl Ether Business Overview 4.8.3 GfN & Selco Vitamin C Ethyl Ether Production Capacity, Value and Gross Margin (2018-2023) 4.8.4 GfN & Selco Product Portfolio 4.8.5 GfN & Selco Recent Developments 4.9 CORUM 4.9.1 CORUM Vitamin C Ethyl Ether Company Information 4.9.2 CORUM Vitamin C Ethyl Ether Business Overview 4.9.3 CORUM Vitamin C Ethyl Ether Production Capacity, Value and Gross Margin (2018-2023) 4.9.4 CORUM Product Portfolio 4.9.5 CORUM Recent Developments 4.10 Hubei Artec Biotechnology Co., Ltd. 4.10.1 Hubei Artec Biotechnology Co., Ltd. Vitamin C Ethyl Ether Company Information 4.10.2 Hubei Artec Biotechnology Co., Ltd. Vitamin C Ethyl Ether Business Overview 4.10.3 Hubei Artec Biotechnology Co., Ltd. Vitamin C Ethyl Ether Production Capacity, Value and Gross Margin (2018-2023) 4.10.4 Hubei Artec Biotechnology Co., Ltd. Product Portfolio 4.10.5 Hubei Artec Biotechnology Co., Ltd. Recent Developments 7.11 Jinan Beauty Skin Biotechnology 7.11.1 Jinan Beauty Skin Biotechnology Vitamin C Ethyl Ether Company Information 7.11.2 Jinan Beauty Skin Biotechnology Vitamin C Ethyl Ether Business Overview 4.11.3 Jinan Beauty Skin Biotechnology Vitamin C Ethyl Ether Production Capacity, Value and Gross Margin (2018-2023) 7.11.4 Jinan Beauty Skin Biotechnology Product Portfolio 7.11.5 Jinan Beauty Skin Biotechnology Recent Developments 7.12 Onlystar 7.12.1 Onlystar Vitamin C Ethyl Ether Company Information 7.12.2 Onlystar Vitamin C Ethyl Ether Business Overview 7.12.3 Onlystar Vitamin C Ethyl Ether Production Capacity, Value and Gross Margin (2018-2023) 7.12.4 Onlystar Product Portfolio 7.12.5 Onlystar Recent Developments 7.13 Sunchem Pharmaceutical 7.13.1 Sunchem Pharmaceutical Vitamin C Ethyl Ether Company Information 7.13.2 Sunchem Pharmaceutical Vitamin C Ethyl Ether Business Overview 7.13.3 Sunchem Pharmaceutical Vitamin C Ethyl Ether Production Capacity, Value and Gross Margin (2018-2023) 7.13.4 Sunchem Pharmaceutical Product Portfolio 7.13.5 Sunchem Pharmaceutical Recent Developments 7.14 Hangzhou Lingeba Technology 7.14.1 Hangzhou Lingeba Technology Vitamin C Ethyl Ether Company Information 7.14.2 Hangzhou Lingeba Technology Vitamin C Ethyl Ether Business Overview 7.14.3 Hangzhou Lingeba Technology Vitamin C Ethyl Ether Production Capacity, Value and Gross Margin (2018-2023) 7.14.4 Hangzhou Lingeba Technology Product Portfolio 7.14.5 Hangzhou Lingeba Technology Recent Developments 7.15 Tianmen Chengyin Fine Chemical Factory 7.15.1 Tianmen Chengyin Fine Chemical Factory Vitamin C Ethyl Ether Company Information 7.15.2 Tianmen Chengyin Fine Chemical Factory Vitamin C Ethyl Ether Business Overview 7.15.3 Tianmen Chengyin Fine Chemical Factory Vitamin C Ethyl Ether Production Capacity, Value and Gross Margin (2018-2023) 7.15.4 Tianmen Chengyin Fine Chemical Factory Product Portfolio 7.15.5 Tianmen Chengyin Fine Chemical Factory Recent Developments 7.16 Krishana Enterprises 7.16.1 Krishana Enterprises Vitamin C Ethyl Ether Company Information 7.16.2 Krishana Enterprises Vitamin C Ethyl Ether Business Overview 7.16.3 Krishana Enterprises Vitamin C Ethyl Ether Production Capacity, Value and Gross Margin (2018-2023) 7.16.4 Krishana Enterprises Product Portfolio 7.16.5 Krishana Enterprises Recent Developments 5 Global Vitamin C Ethyl Ether Production by Region 5.1 Global Vitamin C Ethyl Ether Production Estimates and Forecasts by Region: 2018 VS 2022 VS 2029 5.2 Global Vitamin C Ethyl Ether Production by Region: 2018-2029 5.2.1 Global Vitamin C Ethyl Ether Production by Region: 2018-2023 5.2.2 Global Vitamin C Ethyl Ether Production Forecast by Region (2024-2029) 5.3 Global Vitamin C Ethyl Ether Production Value Estimates and Forecasts by Region: 2018 VS 2022 VS 2029 5.4 Global Vitamin C Ethyl Ether Production Value by Region: 2018-2029 5.4.1 Global Vitamin C Ethyl Ether Production Value by Region: 2018-2023 5.4.2 Global Vitamin C Ethyl Ether Production Value Forecast by Region (2024-2029) 5.5 Global Vitamin C Ethyl Ether Market Price Analysis by Region (2018-2023) 5.6 Global Vitamin C Ethyl Ether Production and Value, YOY Growth 5.6.1 North America Vitamin C Ethyl Ether Production Value Estimates and Forecasts (2018-2029) 5.6.2 Europe Vitamin C Ethyl Ether Production Value Estimates and Forecasts (2018-2029) 5.6.3 China Vitamin C Ethyl Ether Production Value Estimates and Forecasts (2018-2029) 5.6.4 Japan Vitamin C Ethyl Ether Production Value Estimates and Forecasts (2018-2029) 5.6.5 Korea Vitamin C Ethyl Ether Production Value Estimates and Forecasts (2018-2029) 6 Global Vitamin C Ethyl Ether Consumption by Region 6.1 Global Vitamin C Ethyl Ether Consumption Estimates and Forecasts by Region: 2018 VS 2022 VS 2029 6.2 Global Vitamin C Ethyl Ether Consumption by Region (2018-2029) 6.2.1 Global Vitamin C Ethyl Ether Consumption by Region: 2018-2029 6.2.2 Global Vitamin C Ethyl Ether Forecasted Consumption by Region (2024-2029) 6.3 North America 6.3.1 North America Vitamin C Ethyl Ether Consumption Growth Rate by Country: 2018 VS 2022 VS 2029 6.3.2 North America Vitamin C Ethyl Ether Consumption by Country (2018-2029) 6.3.3 United States 6.3.4 Canada 6.4 Europe 6.4.1 Europe Vitamin C Ethyl Ether Consumption Growth Rate by Country: 2018 VS 2022 VS 2029 6.4.2 Europe Vitamin C Ethyl Ether 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 Vitamin C Ethyl Ether Consumption Growth Rate by Country: 2018 VS 2022 VS 2029 6.5.2 Asia Pacific Vitamin C Ethyl Ether 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 Vitamin C Ethyl Ether Consumption Growth Rate by Country: 2018 VS 2022 VS 2029 6.6.2 Latin America, Middle East & Africa Vitamin C Ethyl Ether 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 Purity 7.1 Global Vitamin C Ethyl Ether Production by Purity (2018-2029) 7.1.1 Global Vitamin C Ethyl Ether Production by Purity (2018-2029) & (Tons) 7.1.2 Global Vitamin C Ethyl Ether Production Market Share by Purity (2018-2029) 7.2 Global Vitamin C Ethyl Ether Production Value by Purity (2018-2029) 7.2.1 Global Vitamin C Ethyl Ether Production Value by Purity (2018-2029) & (US$ Million) 7.2.2 Global Vitamin C Ethyl Ether Production Value Market Share by Purity (2018-2029) 7.3 Global Vitamin C Ethyl Ether Price by Purity (2018-2029) 8 Segment by Application 8.1 Global Vitamin C Ethyl Ether Production by Application (2018-2029) 8.1.1 Global Vitamin C Ethyl Ether Production by Application (2018-2029) & (Tons) 8.1.2 Global Vitamin C Ethyl Ether Production by Application (2018-2029) & (Tons) 8.2 Global Vitamin C Ethyl Ether Production Value by Application (2018-2029) 8.2.1 Global Vitamin C Ethyl Ether Production Value by Application (2018-2029) & (US$ Million) 8.2.2 Global Vitamin C Ethyl Ether Production Value Market Share by Application (2018-2029) 8.3 Global Vitamin C Ethyl Ether Price by Application (2018-2029) 9 Value Chain and Sales Channels Analysis of the Market 9.1 Vitamin C Ethyl Ether Value Chain Analysis 9.1.1 Vitamin C Ethyl Ether Key Raw Materials 9.1.2 Raw Materials Key Suppliers 9.1.3 Vitamin C Ethyl Ether Production Mode & Process 9.2 Vitamin C Ethyl Ether Sales Channels Analysis 9.2.1 Direct Comparison with Distribution Share 9.2.2 Vitamin C Ethyl Ether Distributors 9.2.3 Vitamin C Ethyl Ether Customers 10 Global Vitamin C Ethyl Ether Analyzing Market Dynamics 10.1 Vitamin C Ethyl Ether Industry Trends 10.2 Vitamin C Ethyl Ether Industry Drivers 10.3 Vitamin C Ethyl Ether Industry Opportunities and Challenges 10.4 Vitamin C Ethyl Ether Industry Restraints 11 Report Conclusion 12 Disclaimer