Global PU Synthetic Leather Competitive Landscape Professional Research Report 2024

Global PU Synthetic Leather Competitive Landscape Professional Research Report 2024



Research Summary

PU synthetic leather, also known as polyurethane synthetic leather, is a type of artificial leather made from polyurethane, a synthetic polymer material. It is designed to mimic the look and feel of genuine leather while offering several advantages, including cost-effectiveness, durability, and versatility. PU synthetic leather is manufactured by applying a layer of polyurethane to a fabric backing, which can be made from materials like polyester or cotton. This polyurethane coating can be embossed and dyed to resemble various types of leather textures and colors. PU synthetic leather is commonly used in a wide range of applications, including upholstery, clothing, footwear, automotive interiors, and accessories. It is prized for its resistance to scratches, fading, and peeling, making it a popular alternative to genuine leather in many industries. Additionally, PU synthetic leather is often considered more environmentally friendly than genuine leather, as it does not involve animal products and can be produced with fewer environmental impacts.

According to DIResearch's in-depth investigation and research, the global PU Synthetic Leather market size will reach XX US$ Million in 2024, and is expected to reach XX US$ Million in 2030, with a CAGR of XX% (2025-2030). Among them, the China market has changed rapidly in the past few years. The market size in 2024 will be XX US$ Million, accounting for approximately XX% of the world. It is expected to reach XX US$ Million in 2030, and the global share will reach XX%.

The major global manufacturers of PU Synthetic Leather include Covestro, Baiksan, Anhui Anli, San Fang Chemical Industry, Kuraray, Toray, Kolon, Topsun Microfiber, Teijin, Seiren, Zhejiang Hexin, Fujian Tianshou, Huafon Microfibre, Nan Ya Plastics, Wangkang, Double Elephant, Shandong Tongda, Duksung, Xiefu New Materials, Daewon Chemical, Yongfa Synthetic Leather, Wenzhou Imitation Leather, Asahi Kasei, Shian Microfiber etc. The global players competition landscape in this report is divided into three tiers. The first tiers is the global leading enterprise, which occupies a major market share, is in a leading position in the industry, has strong competitiveness and influence, and has a large revenue scale; the second tiers has a certain share and popularity in the market, actively follows the industry leaders in product, service or technological innovation, and has a medium revenue scale; the third tiers has a smaller share in the market, has a lower brand awareness, mainly focuses on the local market, and has a relatively small revenue scale.

This report studies the market size, price trends and future development prospects of PU Synthetic Leather. Focus on analysing the market share, product portfolio, prices, sales volume, revenue and gross profit margin of global major manufacturers, as well as the market status and trends of different product types and applications in the global PU Synthetic Leather market. The report data covers historical data from 2018 to 2023, based year in 2024 and forecast data from 2025 to 2030.

The regions and countries in the report include North America, Europe, China, APAC (excl. China), Latin America and Middle East and Africa, covering the PU Synthetic Leather market conditions and future development trends of key regions and countries, combined with industry-related policies and the latest technological developments, analyze the development characteristics of PU Synthetic Leather industries in various regions and countries, help companies understand the development characteristics of each region, help companies formulate business strategies, and achieve the ultimate goal of the company's global development strategy.

The data sources of this report mainly include the National Bureau of Statistics, customs databases, industry associations, corporate financial reports, third-party databases, etc. Among them, macroeconomic data mainly comes from the National Bureau of Statistics, International Economic Research Organization; industry statistical data mainly come from industry associations; company data mainly comes from interviews, public information collection, third-party reliable databases, and price data mainly comes from various markets monitoring database.

Global Key Manufacturers of PU Synthetic Leather Include:

Covestro

Baiksan

Anhui Anli

San Fang Chemical Industry

Kuraray

Toray

Kolon

Topsun Microfiber

Teijin

Seiren

Zhejiang Hexin

Fujian Tianshou

Huafon Microfibre

Nan Ya Plastics

Wangkang

Double Elephant

Shandong Tongda

Duksung

Xiefu New Materials

Daewon Chemical

Yongfa Synthetic Leather

Wenzhou Imitation Leather

Asahi Kasei

Shian Microfiber

PU Synthetic Leather Product Segment Include:

Normal PU

Microfiber PU

Ecological Function PU

PU Synthetic Leather Product Application Include:

Apparel & Accessories

Furnishing

Automotive

Sports Goods

Others

Chapter Scope

Chapter 1: Product Research Range, Product Types and Applications, Market Overview, Market Situation and Trends

Chapter 2: Global PU Synthetic Leather Capacity and Production Analysis

Chapter 3: Global PU Synthetic Leather Industry PESTEL Analysis

Chapter 4: Global PU Synthetic Leather Industry Porter’s Five Forces Analysis

Chapter 5: Global PU Synthetic Leather Major Regional Market Size (Revenue, Sales, Price) and Forecast Analysis

Chapter 6: Global PU Synthetic Leather Market Size and Forecast by Type and Application Analysis

Chapter 7: North America PU Synthetic Leather Competitive Analysis (Market Size, Key Players and Market Share, Product Type and Application Segment Analysis, Countries Analysis)

Chapter 8: Europe PU Synthetic Leather Competitive Analysis (Market Size, Key Players and Market Share, Product Type and Application Segment Analysis, Countries Analysis)

Chapter 9: China PU Synthetic Leather Competitive Analysis (Market Size, Key Players and Market Share, Product Type and Application Segment Analysis, Countries Analysis)

Chapter 10: APAC (Excl. China) PU Synthetic Leather Competitive Analysis (Market Size, Key Players and Market Share, Product Type and Application Segment Analysis, Countries Analysis)

Chapter 11: Latin America PU Synthetic Leather Competitive Analysis (Market Size, Key Players and Market Share, Product Type and Application Segment Analysis, Countries Analysis)

Chapter 12: Middle East and Africa PU Synthetic Leather Competitive Analysis (Market Size, Key Players and Market Share, Product Type and Application Segment Analysis, Countries Analysis)

Chapter 13: Global PU Synthetic Leather Competitive Analysis of Key Manufacturers (Sales, Revenue, Market Share, Price, Regional Distribution and Industry Concentration)

Chapter 14: Key Company Profiles (Product Portfolio, Sales, Revenue, Price and Gross Margin)

Chapter 15: Industrial Chain Analysis, Include Raw Material Suppliers, Distributors and Customers

Chapter 16: Research Findings and Conclusion

Chapter 17: Methodology and Data Sources


1 PU Synthetic Leather Market Overview
1.1 Product Definition and Statistical Scope
1.2 PU Synthetic Leather Product by Type
1.2.1 Global PU Synthetic Leather Market Size by Type, 2023 VS 2024 VS 2030
1.2.2 Normal PU
1.2.3 Microfiber PU
1.2.4 Ecological Function PU
1.3 PU Synthetic Leather Product by Application
1.3.1 Global PU Synthetic Leather Market Size by Application, 2023 VS 2024 VS 2030
1.3.2 Apparel & Accessories
1.3.3 Furnishing
1.3.4 Automotive
1.3.5 Sports Goods
1.3.6 Others
1.4 Global PU Synthetic Leather Market Revenue and Sales Analysis
1.4.1 Global PU Synthetic Leather Market Size Analysis (2019-2030)
1.4.2 Global PU Synthetic Leather Market Sales Analysis (2019-2030)
1.4.3 Global PU Synthetic Leather Market Sales Price Trend Analysis (2019-2030)
1.5 PU Synthetic Leather Market Development Status and Trends
1.5.1 PU Synthetic Leather Industry Development Status Analysis
1.5.2 PU Synthetic Leather Industry Development Trends Analysis
2 Global PU Synthetic Leather Capacity and Production Analysis
2.1 Global PU Synthetic Leather Production Capacity (2019-2030)
2.2 Global PU Synthetic Leather Production by Region: 2023 VS 2024 VS 2030
2.3 Global PU Synthetic Leather Production by Region
2.3.1 Global PU Synthetic Leather Historic Production by Region (2019-2024)
2.3.2 Global PU Synthetic Leather Forecasted Production by Region (2025-2030)
2.3.3 Global PU Synthetic Leather Production Market Share by Region (2019-2030)
3 PU Synthetic Leather Market PESTEL Analysis
3.1 Political Factors Analysis
3.2 Economic Factors Analysis
3.3 Social Factors Analysis
3.4 Technological Factors Analysis
3.5 Environmental Factors Analysis
3.6 Legal Factors Analysis
4 PU Synthetic Leather Market Porter's Five Forces Analysis
4.1 Competitive Rivalry
4.2 Threat of New Entrants
4.3 Bargaining Power of Suppliers
4.4 Bargaining Power of Buyers
4.5 Threat of Substitutes
5 Global PU Synthetic Leather Market Analysis by Regions
5.1 PU Synthetic Leather Overall Market: 2023 VS 2024 VS 2030
5.2 Global PU Synthetic Leather Revenue and Forecast Analysis (2019-2030)
5.2.1 Global PU Synthetic Leather Revenue and Market Share by Region (2019-2024)
5.2.2 Global PU Synthetic Leather Revenue Forecast by Region (2025-2030)
5.3 Global PU Synthetic Leather Sales and Forecast Analysis (2019-2030)
5.3.1 Global PU Synthetic Leather Sales and Market Share by Region (2019-2024)
5.3.2 Global PU Synthetic Leather Sales Forecast by Region (2025-2030)
5.4 Global PU Synthetic Leather Sales Price Trend Analysis (2019-2030)
6 Global PU Synthetic Leather Market Size by Type and Application
6.1 Global PU Synthetic Leather Market Size by Type
6.1.1 Global PU Synthetic Leather Revenue and Forecast Analysis by Type (2019-2030)
6.1.2 Global PU Synthetic Leather Sales and Forecast Analysis by Type (2019-2030)
6.2 Global PU Synthetic Leather Market Size by Application
6.2.1 Global PU Synthetic Leather Revenue and Forecast Analysis by Application (2019-2030)
6.2.2 Global PU Synthetic Leather Sales and Forecast Analysis by Application (2019-2030)
7 North America
7.1 North America PU Synthetic Leather Market Size and Growth Rate Analysis (2019-2030)
7.2 North America Key Manufacturers Analysis
7.3 North America PU Synthetic Leather Market Size by Type
7.3.1 North America PU Synthetic Leather Sales by Type (2019-2030)
7.3.2 North America PU Synthetic Leather Revenue by Type (2019-2030)
7.4 North America PU Synthetic Leather Market Size by Application
7.4.1 North America PU Synthetic Leather Sales by Application (2019-2030)
7.4.2 North America PU Synthetic Leather Revenue by Application (2019-2030)
7.5 North America PU Synthetic Leather Market Size by Country
7.5.1 US
7.5.2 Canada
8 Europe
8.1 Europe PU Synthetic Leather Market Size and Growth Rate Analysis (2019-2030)
8.2 Europe Key Manufacturers Analysis
8.3 Europe PU Synthetic Leather Market Size by Type
8.3.1 Europe PU Synthetic Leather Sales by Type (2019-2030)
8.3.2 Europe PU Synthetic Leather Revenue by Type (2019-2030)
8.4 Europe PU Synthetic Leather Market Size by Application
8.4.1 Europe PU Synthetic Leather Sales by Application (2019-2030)
8.4.2  Europe PU Synthetic Leather Revenue by Application (2019-2030)
8.5 Europe PU Synthetic Leather Market Size by Country
8.5.1 Germany
8.5.2 France
8.5.3 United Kingdom
8.5.4 Italy
8.5.5 Spain
8.5.6 Benelux
9 China
9.1 China PU Synthetic Leather Market Size and Growth Rate Analysis (2019-2030)
9.2 China Key Manufacturers Analysis
9.3 China PU Synthetic Leather Market Size by Type
9.3.1 China PU Synthetic Leather Sales by Type (2019-2030)
9.3.2 China PU Synthetic Leather Revenue by Type (2019-2030)
9.4 China PU Synthetic Leather Market Size by Application
9.4.1 China PU Synthetic Leather Sales by Application (2019-2030)
9.4.2 China PU Synthetic Leather Revenue by Application (2019-2030)
10 APAC (excl. China)
10.1 APAC (excl. China) PU Synthetic Leather Market Size and Growth Rate Analysis (2019-2030)
10.2 APAC (excl. China) Key Manufacturers Analysis
10.3 APAC (excl. China) PU Synthetic Leather Market Size by Type
10.3.1 APAC (excl. China) PU Synthetic Leather Sales by Type (2019-2030)
10.3.2 APAC (excl. China) PU Synthetic Leather Revenue by Type (2019-2030)
10.4 APAC (excl. China) PU Synthetic Leather Market Size by Application
10.4.1 APAC (excl. China) PU Synthetic Leather Sales by Application (2019-2030)
10.4.2 APAC (excl. China) PU Synthetic Leather Revenue by Application (2019-2030)
10.5 APAC (excl. China) PU Synthetic Leather Market Size by Country
10.5.1 Japan
10.5.2 South Korea
10.5.3 India
10.5.4 Australia
10.5.5 Indonesia
10.5.6 Vietnam
10.5.7 Malaysia
10.5.8 Thailand
11 Latin America
11.1 Latin America PU Synthetic Leather Market Size and Growth Rate Analysis (2019-2030)
11.2 Latin America Key Manufacturers Analysis
11.3 Latin America PU Synthetic Leather Market Size by Type
11.3.1 Latin America PU Synthetic Leather Sales by Type (2019-2030)
11.3.2 Latin America PU Synthetic Leather Revenue by Type (2019-2030)
11.4 Latin America PU Synthetic Leather Market Size by Application
11.4.1 Latin America PU Synthetic Leather Sales by Application (2019-2030)
11.4.2 Latin America PU Synthetic Leather Revenue by Application (2019-2030)
11.5 Latin America PU Synthetic Leather Market Size by Country
11.5.1 Mexico
11.5.2 Brazil
12 Middle East & Africa
12.1 Middle East & Africa PU Synthetic Leather Market Size and Growth Rate Analysis (2019-2030)
12.2 Middle East & Africa Key Manufacturers Analysis
12.3 Middle East & Africa PU Synthetic Leather Market Size by Type
12.3.1 Middle East & Africa PU Synthetic Leather Sales by Type (2019-2030)
12.3.2 Middle East & Africa PU Synthetic Leather Revenue by Type (2019-2030)
12.4 Middle East & Africa PU Synthetic Leather Market Size by Application
12.4.1 Middle East & Africa PU Synthetic Leather Sales by Application (2019-2030)
12.4.2 Middle East & Africa PU Synthetic Leather Revenue by Application (2019-2030)
12.5 Middle East & Africa PU Synthetic Leather Market Size by Country
12.5.1 Saudi Arabia
12.5.2 South Africa
13 Competition by Manufacturers
13.1 Global PU Synthetic Leather Market Sales, Revenue and Price by Key Manufacturers (2020-2024)
13.1.1 Global PU Synthetic Leather Market Sales by Key Manufacturers (2020-2024)
13.1.2 Global PU Synthetic Leather Market Revenue by Key Manufacturers (2020-2024)
13.1.3 Global PU Synthetic Leather Average Sales Price by Manufacturers (2020-2024)
13.2 PU Synthetic Leather Competitive Landscape Analysis and Market Dynamic
13.2.1 PU Synthetic Leather Competitive Landscape Analysis
13.2.2 Global Key Manufacturers Headquarter Location and Key Area Sales
13.2.3 Market Dynamic
14 Key Companies Analysis
14.1 Covestro
14.1.1 Covestro Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)
14.1.2 Covestro PU Synthetic Leather Product Portfolio
14.1.3 Covestro PU Synthetic Leather Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)
14.2 Baiksan
14.2.1 Baiksan Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)
14.2.2 Baiksan PU Synthetic Leather Product Portfolio
14.2.3 Baiksan PU Synthetic Leather Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)
14.3 Anhui Anli
14.3.1 Anhui Anli Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)
14.3.2 Anhui Anli PU Synthetic Leather Product Portfolio
14.3.3 Anhui Anli PU Synthetic Leather Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)
14.4 San Fang Chemical Industry
14.4.1 San Fang Chemical Industry Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)
14.4.2 San Fang Chemical Industry PU Synthetic Leather Product Portfolio
14.4.3 San Fang Chemical Industry PU Synthetic Leather Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)
14.5 Kuraray
14.5.1 Kuraray Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)
14.5.2 Kuraray PU Synthetic Leather Product Portfolio
14.5.3 Kuraray PU Synthetic Leather Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)
14.6 Toray
14.6.1 Toray Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)
14.6.2 Toray PU Synthetic Leather Product Portfolio
14.6.3 Toray PU Synthetic Leather Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)
14.7 Kolon
14.7.1 Kolon Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)
14.7.2 Kolon PU Synthetic Leather Product Portfolio
14.7.3 Kolon PU Synthetic Leather Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)
14.8 Topsun Microfiber
14.8.1 Topsun Microfiber Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)
14.8.2 Topsun Microfiber PU Synthetic Leather Product Portfolio
14.8.3 Topsun Microfiber PU Synthetic Leather Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)
14.9 Teijin
14.9.1 Teijin Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)
14.9.2 Teijin PU Synthetic Leather Product Portfolio
14.9.3 Teijin PU Synthetic Leather Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)
14.10 Seiren
14.10.1 Seiren Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)
14.10.2 Seiren PU Synthetic Leather Product Portfolio
14.10.3 Seiren PU Synthetic Leather Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)
14.11 Zhejiang Hexin
14.11.1 Zhejiang Hexin Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)
14.11.2 Zhejiang Hexin PU Synthetic Leather Product Portfolio
14.11.3 Zhejiang Hexin PU Synthetic Leather Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)
14.12 Fujian Tianshou
14.12.1 Fujian Tianshou Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)
14.12.2 Fujian Tianshou PU Synthetic Leather Product Portfolio
14.12.3 Fujian Tianshou PU Synthetic Leather Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)
14.13 Huafon Microfibre
14.13.1 Huafon Microfibre Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)
14.13.2 Huafon Microfibre PU Synthetic Leather Product Portfolio
14.13.3 Huafon Microfibre PU Synthetic Leather Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)
14.14 Nan Ya Plastics
14.14.1 Nan Ya Plastics Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)
14.14.2 Nan Ya Plastics PU Synthetic Leather Product Portfolio
14.14.3 Nan Ya Plastics PU Synthetic Leather Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)
14.15 Wangkang
14.15.1 Wangkang Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)
14.15.2 Wangkang PU Synthetic Leather Product Portfolio
14.15.3 Wangkang PU Synthetic Leather Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)
14.16 Double Elephant
14.16.1 Double Elephant Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)
14.16.2 Double Elephant PU Synthetic Leather Product Portfolio
14.16.3 Double Elephant PU Synthetic Leather Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)
14.17 Shandong Tongda
14.17.1 Shandong Tongda Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)
14.17.2 Shandong Tongda PU Synthetic Leather Product Portfolio
14.17.3 Shandong Tongda PU Synthetic Leather Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)
14.18 Duksung
14.18.1 Duksung Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)
14.18.2 Duksung PU Synthetic Leather Product Portfolio
14.18.3 Duksung PU Synthetic Leather Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)
14.19 Xiefu New Materials
14.19.1 Xiefu New Materials Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)
14.19.2 Xiefu New Materials PU Synthetic Leather Product Portfolio
14.19.3 Xiefu New Materials PU Synthetic Leather Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)
14.20 Daewon Chemical
14.20.1 Daewon Chemical Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)
14.20.2 Daewon Chemical PU Synthetic Leather Product Portfolio
14.20.3 Daewon Chemical PU Synthetic Leather Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)
14.21 Yongfa Synthetic Leather
14.21.1 Yongfa Synthetic Leather Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)
14.21.2 Yongfa Synthetic Leather PU Synthetic Leather Product Portfolio
14.21.3 Yongfa Synthetic Leather PU Synthetic Leather Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)
14.22 Wenzhou Imitation Leather
14.22.1 Wenzhou Imitation Leather Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)
14.22.2 Wenzhou Imitation Leather PU Synthetic Leather Product Portfolio
14.22.3 Wenzhou Imitation Leather PU Synthetic Leather Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)
14.23 Asahi Kasei
14.23.1 Asahi Kasei Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)
14.23.2 Asahi Kasei PU Synthetic Leather Product Portfolio
14.23.3 Asahi Kasei PU Synthetic Leather Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)
14.24 Shian Microfiber
14.24.1 Shian Microfiber Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)
14.24.2 Shian Microfiber PU Synthetic Leather Product Portfolio
14.24.3 Shian Microfiber PU Synthetic Leather Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)
15 Industry Chain Analysis
15.1 PU Synthetic Leather Industry Chain Analysis
15.2 PU Synthetic Leather Industry Upstream Supply Analysis
15.2.1 Upstream Key Raw Material Supply Analysis
15.2.2 Raw Material Suppliers and Contact Information
15.3 PU Synthetic Leather Typical Downstream Customers
15.4 PU Synthetic Leather Sales Channel Analysis
16 Research Findings and Conclusion
17 Methodology and Data Source
17.1 Methodology/Research Approach
17.2 Research Scope
17.3 Benchmarks and Assumptions
17.4 Date Source
17.4.1 Primary Sources
17.4.2 Secondary Sources
17.5 Data Cross Validation
17.6 Disclaimer

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