The Reflective Tape market research report provides an in-depth analysis of the currents trends, latest developments, scenario, market size, various drivers, restraints, and major players along with their profile details. Research report offers the historic data for year 2018 and 2019 and also provides the forecast data from year 2020 to 2028 which is based on revenue (USD Million). With the help of all these information research report helps the market participants to improve market positions. With the help of all these insights Reflective Tape market research report recommends a business strategy for present market participants to strengthen their position in the market.
According to the report, the Reflective Tape market size was USD xx million and it is expected to reach USD xx million by the end of 2028, with a CAGR of xx% during 2020-2028. While considering the volume shipments the global Reflective Tape market stood at xx (Units/Tons) in 2020 and expected to cross near about xx (units/Tons) by the end of forecast period.
Furthermore, the research report includes the detailed information about major players and provides the data regarding the current market scenario as well as upcoming market opportunities or challenges. Similarly, in segment report covers the types, and applications according to the countries and key regions. The research report consists the various drivers and restraints for Reflective Tape market along with their effects over the forecast period. Similarly, according to the region Reflective Tape market research report includes the study of opportunities available in the market situation.
The Reflective Tape market research report provides the in-depth data analysis by using the various graphs, figures, charts, and tables. Furthermore, the report provides the different business challenges which are impacting market growth in all direction.
Global Reflective Tape Market Segmentation by Regions:
In regional analysis, Reflective Tape market research report provides the detailed analysis from various regions and also contains the detailed analysis of country. Along with market revenue, market value report also offers the forecast analysis for the following countries and regions. Global Reflective Tape market report covers the various geographical regions such as North America, Asia-Pacific, Europe, Latin America, and Middle East & Africa. Also, various countries included are Canada, U.K., France, the U.S., Japan, China, India, and Germany and so on.
North America Region for Reflective Tape Market: Value and Forecast
Europe Region for Reflective Tape Market: Value and Forecast
Asia Pacific Region for Reflective Tape Market: Value and Forecast
Latin America Region for Reflective Tape Market: Value and Forecast
Middle East and Africa for Reflective Tape Market: Value and Forecast
Global Reflective Tape Market Segmentation by Type:
On the basis of product type, global Reflective Tape market research report provides the production, revenue, price, and market share and growth rate of each type, primarily split into: Silver Type, Yellow Type, Other
Global Reflective Tape Market Segmentation by Applications:
On the basis of the end users/applications, Reflective Tape research report analyze the status and outlook for major applications/end users, consumption (sales), market share and growth rate for each application, including: Marine, Military & Gov, Other
Major Key Players for Global Reflective Tape Market:
The Reflective Tape market research report offers the company profile of major key players including progress trends, competitive landscape breakdown, and key in regions development status. 3M, Reflomax, Qualisys, Scott Safety, Brady Australia
Important Points Covered by Report:
Global Reflective Tape research report consist the information about overall sales and revenue during the historic and forecasted period of 2018 to 2028. Additionally, this report covers the inside and out factual examination and the market elements and requests which give an entire situation of the business.
Key Analytical Areas:
The report aims to offer a complete solution to various businesses operating in the Reflective Tape market in making strategic decisions based on credible information and actionable insights. Thereby, the report covers various aspects of your requirements such as industry overview, market dynamics, regional analysis and competitive landscape. The report aims to provide insights to businesses in the Reflective Tape market for numerous purposes such as:
1. Strategic Decision Making:
With the help of this report, key decision makers can quickly analyze and identify growth opportunities in terms of numerous segments across various geographical regions. Thereby, this report enables organizations to identify and make strategic investments in specific market segments in order to gain maximum return on investment.
2. Actionable Insights:
The report offers a deep dive into how companies are leveraging market conditions to make the most in the Reflective Tape market. Thereby, the report offers numerous actionable insights into the best practices and key success factors relevant in the Reflective Tape market. Using the insights included in the report, businesses can make quick decisions to achieve success in business operations.
3. Competitive Snapshot:
In addition, to detailed information on the companies operating in the Reflective Tape market, the report also includes a competitive snapshot of all the companies covered in the report. Thereby, this offers a visual representation of how all the companies stand comparatively based on their competencies, geographic presence, market hold, years of operations, employee and financial strength, among others.
According to the report, the Reflective Tape market size was USD xx million and it is expected to reach USD xx million by the end of 2028, with a CAGR of xx% during 2020-2028. While considering the volume shipments the global Reflective Tape market stood at xx (Units/Tons) in 2020 and expected to cross near about xx (units/Tons) by the end of forecast period.
Furthermore, the research report includes the detailed information about major players and provides the data regarding the current market scenario as well as upcoming market opportunities or challenges. Similarly, in segment report covers the types, and applications according to the countries and key regions. The research report consists the various drivers and restraints for Reflective Tape market along with their effects over the forecast period. Similarly, according to the region Reflective Tape market research report includes the study of opportunities available in the market situation.
The Reflective Tape market research report provides the in-depth data analysis by using the various graphs, figures, charts, and tables. Furthermore, the report provides the different business challenges which are impacting market growth in all direction.
| Report Parameters | Details of Parameter |
| Market Size | xx Million |
| Based Year | 2019 |
| Forecast Period Covered | 2019 – 2028 |
| Units for value | Revenue in USD million and CAGR from 2020 to 2028 |
| Covered Segments | Component, Types, Applications, End-Users, and more. |
| Product Type | Silver Type, Yellow Type, Other |
| Applications | Marine, Military & Gov, Other |
| Region Covered | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Companies Covered | 3M, Reflomax, Qualisys, Scott Safety, Brady Australia |
Global Reflective Tape Market Segmentation by Regions:
In regional analysis, Reflective Tape market research report provides the detailed analysis from various regions and also contains the detailed analysis of country. Along with market revenue, market value report also offers the forecast analysis for the following countries and regions. Global Reflective Tape market report covers the various geographical regions such as North America, Asia-Pacific, Europe, Latin America, and Middle East & Africa. Also, various countries included are Canada, U.K., France, the U.S., Japan, China, India, and Germany and so on.
North America Region for Reflective Tape Market: Value and Forecast
- U.S.
- Canada
Europe Region for Reflective Tape Market: Value and Forecast
- UK
- Germany
- France
- Rest of the Europe
Asia Pacific Region for Reflective Tape Market: Value and Forecast
- China
- Japan
- India
- Rest of the Asia Pacific
Latin America Region for Reflective Tape Market: Value and Forecast
- Mexico
- Brazil
- Rest of the Latin America
Middle East and Africa for Reflective Tape Market: Value and Forecast
- GCC Countries
- South Africa
- Rest of Middle East and Africa
Global Reflective Tape Market Segmentation by Type:
On the basis of product type, global Reflective Tape market research report provides the production, revenue, price, and market share and growth rate of each type, primarily split into: Silver Type, Yellow Type, Other
Global Reflective Tape Market Segmentation by Applications:
On the basis of the end users/applications, Reflective Tape research report analyze the status and outlook for major applications/end users, consumption (sales), market share and growth rate for each application, including: Marine, Military & Gov, Other
Major Key Players for Global Reflective Tape Market:
The Reflective Tape market research report offers the company profile of major key players including progress trends, competitive landscape breakdown, and key in regions development status. 3M, Reflomax, Qualisys, Scott Safety, Brady Australia
Important Points Covered by Report:
- To analyze the value of the Reflective Tape market, according to the key region.
- To study the Reflective Tape market current trends, prospects and also their participation in the entire sector.
- Report consists the in-depth information related to the region/countries, major key players, current trends and their analysis, product type, applications, and other background information
- Report provides the detailed information about drivers, restraints and future scope of Reflective Tape market.
- Report covers the information about historic data analysis as well as forecast period analysis.
Global Reflective Tape research report consist the information about overall sales and revenue during the historic and forecasted period of 2018 to 2028. Additionally, this report covers the inside and out factual examination and the market elements and requests which give an entire situation of the business.
Key Analytical Areas:
The report aims to offer a complete solution to various businesses operating in the Reflective Tape market in making strategic decisions based on credible information and actionable insights. Thereby, the report covers various aspects of your requirements such as industry overview, market dynamics, regional analysis and competitive landscape. The report aims to provide insights to businesses in the Reflective Tape market for numerous purposes such as:
1. Strategic Decision Making:
With the help of this report, key decision makers can quickly analyze and identify growth opportunities in terms of numerous segments across various geographical regions. Thereby, this report enables organizations to identify and make strategic investments in specific market segments in order to gain maximum return on investment.
2. Actionable Insights:
The report offers a deep dive into how companies are leveraging market conditions to make the most in the Reflective Tape market. Thereby, the report offers numerous actionable insights into the best practices and key success factors relevant in the Reflective Tape market. Using the insights included in the report, businesses can make quick decisions to achieve success in business operations.
3. Competitive Snapshot:
In addition, to detailed information on the companies operating in the Reflective Tape market, the report also includes a competitive snapshot of all the companies covered in the report. Thereby, this offers a visual representation of how all the companies stand comparatively based on their competencies, geographic presence, market hold, years of operations, employee and financial strength, among others.
1 Reflective Tape Market Overview
1.1 Product Overview and Scope of Reflective Tape
1.2 Reflective Tape Segment by Type
1.2.1 Global Reflective Tape Sales Growth Rate Comparison by Type (2020-2026)
1.2.2 Silver Type
1.2.3 Yellow Type
1.2.4 Other
1.3 Reflective Tape Segment by Application
1.3.1 Reflective Tape Sales Comparison by Application: (2020-2026)
1.3.2 Marine
1.3.3 Military & Gov
1.3.4 Other
1.4 Global Reflective Tape Market Size Estimates and Forecasts
1.4.1 Global Reflective Tape Revenue 2015-2026
1.4.2 Global Reflective Tape Sales 2015-2026
1.4.3 Reflective Tape Market Size by Region: 2020 Versus 2026
1.5 Coronavirus Disease 2019 (Covid-19): Reflective Tape Industry Impact
1.5.1 How the Covid-19 is Affecting the Reflective Tape Industry
1.5.1.1 Reflective Tape Business Impact Assessment - Covid-19
1.5.1.2 Supply Chain Challenges
1.5.1.3 COVID-19's Impact On Crude Oil and Refined Products
1.5.2 Market Trends and Reflective Tape Potential Opportunities in the COVID-19 Landscape
1.5.3 Measures/Proposal against Covid-19
1.5.3.1 Government Measures to Combat Covid-19 Impact
1.5.3.2 Proposal for Reflective Tape Players to Combat Covid-19 Impact
1.6 Study Objectives
1.7 Years Considered
2 Global Reflective Tape Market Competition by Manufacturers
2.1 Global Reflective Tape Sales Market Share by Manufacturers (2015-2020)
2.2 Global Reflective Tape Revenue Share by Manufacturers (2015-2020)
2.3 Global Reflective Tape Average Price by Manufacturers (2015-2020)
2.4 Manufacturers Reflective Tape Manufacturing Sites, Area Served, Product Type
2.5 Reflective Tape Market Competitive Situation and Trends
2.5.1 Reflective Tape Market Concentration Rate
2.5.2 Global Top 5 and Top 10 Players Market Share by Revenue
2.5.3 Market Share by Company Type (Tier 1, Tier 2 and Tier 3)
2.6 Manufacturers Mergers & Acquisitions, Expansion Plans
2.7 Primary Interviews with Key Reflective Tape Players (Opinion Leaders)
3 Reflective Tape Retrospective Market Scenario by Region
3.1 Global Reflective Tape Retrospective Market Scenario in Sales by Region: 2015-2020
3.2 Global Reflective Tape Retrospective Market Scenario in Revenue by Region: 2015-2020
3.3 North America Reflective Tape Market Facts & Figures by Country
3.3.1 North America Reflective Tape Sales by Country
3.3.2 North America Reflective Tape Sales by Country
3.3.3 U.S.
3.3.4 Canada
3.4 Europe Reflective Tape Market Facts & Figures by Country
3.4.1 Europe Reflective Tape Sales by Country
3.4.2 Europe Reflective Tape Sales by Country
3.4.3 Germany
3.4.4 France
3.4.5 U.K.
3.4.6 Italy
3.4.7 Russia
3.5 Asia Pacific Reflective Tape Market Facts & Figures by Region
3.5.1 Asia Pacific Reflective Tape Sales by Region
3.5.2 Asia Pacific Reflective Tape Sales by Region
3.5.3 China
3.5.4 Japan
3.5.5 South Korea
3.5.6 India
3.5.7 Australia
3.5.8 Taiwan
3.5.9 Indonesia
3.5.10 Thailand
3.5.11 Malaysia
3.5.12 Philippines
3.5.13 Vietnam
3.6 Latin America Reflective Tape Market Facts & Figures by Country
3.6.1 Latin America Reflective Tape Sales by Country
3.6.2 Latin America Reflective Tape Sales by Country
3.6.3 Mexico
3.6.4 Brazil
3.6.5 Argentina
3.7 Middle East and Africa Reflective Tape Market Facts & Figures by Country
3.7.1 Middle East and Africa Reflective Tape Sales by Country
3.7.2 Middle East and Africa Reflective Tape Sales by Country
3.7.3 Turkey
3.7.4 Saudi Arabia
3.7.5 U.A.E
4 Global Reflective Tape Historic Market Analysis by Type
4.1 Global Reflective Tape Sales Market Share by Type (2015-2020)
4.2 Global Reflective Tape Revenue Market Share by Type (2015-2020)
4.3 Global Reflective Tape Price Market Share by Type (2015-2020)
4.4 Global Reflective Tape Market Share by Price Tier (2015-2020): Low-End, Mid-Range and High-End
5 Global Reflective Tape Historic Market Analysis by Application
5.1 Global Reflective Tape Sales Market Share by Application (2015-2020)
5.2 Global Reflective Tape Revenue Market Share by Application (2015-2020)
5.3 Global Reflective Tape Price by Application (2015-2020)
6 Company Profiles and Key Figures in Reflective Tape Business
6.1 3M
6.1.1 Corporation Information
6.1.2 3M Description, Business Overview
6.1.3 3M Reflective Tape Sales, Revenue and Gross Margin (2015-2020)
6.1.4 3M Products Offered
6.1.5 3M Recent Development
6.2 Reflomax
6.2.1 Corporation Information
6.2.2 Reflomax Description, Business Overview
6.2.3 Reflomax Reflective Tape Sales, Revenue and Gross Margin (2015-2020)
6.2.4 Reflomax Products Offered
6.2.5 Reflomax Recent Development
6.3 Qualisys
6.3.1 Corporation Information
6.3.2 Qualisys Description, Business Overview
6.3.3 Qualisys Reflective Tape Sales, Revenue and Gross Margin (2015-2020)
6.3.4 Qualisys Products Offered
6.3.5 Qualisys Recent Development
6.4 Scott Safety
6.4.1 Corporation Information
6.4.2 Scott Safety Description, Business Overview
6.4.3 Scott Safety Reflective Tape Sales, Revenue and Gross Margin (2015-2020)
6.4.4 Scott Safety Products Offered
6.4.5 Scott Safety Recent Development
7 Reflective Tape Manufacturing Cost Analysis
7.1 Reflective Tape Key Raw Materials Analysis
7.1.1 Key Raw Materials
7.1.2 Key Raw Materials Price Trend
7.1.3 Key Suppliers of Raw Materials
7.2 Proportion of Manufacturing Cost Structure
7.3 Manufacturing Process Analysis of Reflective Tape
7.4 Reflective Tape Industrial Chain Analysis
8 Marketing Channel, Distributors and Customers
8.1 Marketing Channel
8.2 Reflective Tape Distributors List
8.3 Reflective Tape Customers
9 Market Dynamics
9.1 Market Overview
9.2 Market Trends
9.3 Market Inclination Insights Analysis
9.4 Drivers
9.5 Opportunities
9.6 Challenges
9.7 Future Prospects
9.8 Impact Analysis of Drivers and Challenges During the Forecast Period, (2018-2028)
10 Global Market Forecast
10.1 Global Reflective Tape Market Estimates and Projections by Type
10.1.1 Global Forecasted Sales of Reflective Tape by Type (2021-2026)
10.1.2 Global Forecasted Revenue of Reflective Tape by Type (2021-2026)
10.2 Reflective Tape Market Estimates and Projections by Application
10.2.1 Global Forecasted Sales of Reflective Tape by Application (2021-2026)
10.2.2 Global Forecasted Revenue of Reflective Tape by Application (2021-2026)
10.3 Reflective Tape Market Estimates and Projections by Region
10.3.1 Global Forecasted Sales of Reflective Tape by Region (2021-2026)
10.3.2 Global Forecasted Revenue of Reflective Tape by Region (2021-2026)
11 Research Finding and Conclusion
12 Methodology and Data Source
12.1 Methodology/Research Approach
12.1.1 Research Programs/Design
12.1.2 Market Size Estimation
12.1.3 Market Breakdown and Data Triangulation
12.2 Data Source
12.2.1 Secondary Sources
12.2.2 Primary Sources
12.3 Author List
12.4 Disclaimer
1.1 Product Overview and Scope of Reflective Tape
1.2 Reflective Tape Segment by Type
1.2.1 Global Reflective Tape Sales Growth Rate Comparison by Type (2020-2026)
1.2.2 Silver Type
1.2.3 Yellow Type
1.2.4 Other
1.3 Reflective Tape Segment by Application
1.3.1 Reflective Tape Sales Comparison by Application: (2020-2026)
1.3.2 Marine
1.3.3 Military & Gov
1.3.4 Other
1.4 Global Reflective Tape Market Size Estimates and Forecasts
1.4.1 Global Reflective Tape Revenue 2015-2026
1.4.2 Global Reflective Tape Sales 2015-2026
1.4.3 Reflective Tape Market Size by Region: 2020 Versus 2026
1.5 Coronavirus Disease 2019 (Covid-19): Reflective Tape Industry Impact
1.5.1 How the Covid-19 is Affecting the Reflective Tape Industry
1.5.1.1 Reflective Tape Business Impact Assessment - Covid-19
1.5.1.2 Supply Chain Challenges
1.5.1.3 COVID-19's Impact On Crude Oil and Refined Products
1.5.2 Market Trends and Reflective Tape Potential Opportunities in the COVID-19 Landscape
1.5.3 Measures/Proposal against Covid-19
1.5.3.1 Government Measures to Combat Covid-19 Impact
1.5.3.2 Proposal for Reflective Tape Players to Combat Covid-19 Impact
1.6 Study Objectives
1.7 Years Considered
2 Global Reflective Tape Market Competition by Manufacturers
2.1 Global Reflective Tape Sales Market Share by Manufacturers (2015-2020)
2.2 Global Reflective Tape Revenue Share by Manufacturers (2015-2020)
2.3 Global Reflective Tape Average Price by Manufacturers (2015-2020)
2.4 Manufacturers Reflective Tape Manufacturing Sites, Area Served, Product Type
2.5 Reflective Tape Market Competitive Situation and Trends
2.5.1 Reflective Tape Market Concentration Rate
2.5.2 Global Top 5 and Top 10 Players Market Share by Revenue
2.5.3 Market Share by Company Type (Tier 1, Tier 2 and Tier 3)
2.6 Manufacturers Mergers & Acquisitions, Expansion Plans
2.7 Primary Interviews with Key Reflective Tape Players (Opinion Leaders)
3 Reflective Tape Retrospective Market Scenario by Region
3.1 Global Reflective Tape Retrospective Market Scenario in Sales by Region: 2015-2020
3.2 Global Reflective Tape Retrospective Market Scenario in Revenue by Region: 2015-2020
3.3 North America Reflective Tape Market Facts & Figures by Country
3.3.1 North America Reflective Tape Sales by Country
3.3.2 North America Reflective Tape Sales by Country
3.3.3 U.S.
3.3.4 Canada
3.4 Europe Reflective Tape Market Facts & Figures by Country
3.4.1 Europe Reflective Tape Sales by Country
3.4.2 Europe Reflective Tape Sales by Country
3.4.3 Germany
3.4.4 France
3.4.5 U.K.
3.4.6 Italy
3.4.7 Russia
3.5 Asia Pacific Reflective Tape Market Facts & Figures by Region
3.5.1 Asia Pacific Reflective Tape Sales by Region
3.5.2 Asia Pacific Reflective Tape Sales by Region
3.5.3 China
3.5.4 Japan
3.5.5 South Korea
3.5.6 India
3.5.7 Australia
3.5.8 Taiwan
3.5.9 Indonesia
3.5.10 Thailand
3.5.11 Malaysia
3.5.12 Philippines
3.5.13 Vietnam
3.6 Latin America Reflective Tape Market Facts & Figures by Country
3.6.1 Latin America Reflective Tape Sales by Country
3.6.2 Latin America Reflective Tape Sales by Country
3.6.3 Mexico
3.6.4 Brazil
3.6.5 Argentina
3.7 Middle East and Africa Reflective Tape Market Facts & Figures by Country
3.7.1 Middle East and Africa Reflective Tape Sales by Country
3.7.2 Middle East and Africa Reflective Tape Sales by Country
3.7.3 Turkey
3.7.4 Saudi Arabia
3.7.5 U.A.E
4 Global Reflective Tape Historic Market Analysis by Type
4.1 Global Reflective Tape Sales Market Share by Type (2015-2020)
4.2 Global Reflective Tape Revenue Market Share by Type (2015-2020)
4.3 Global Reflective Tape Price Market Share by Type (2015-2020)
4.4 Global Reflective Tape Market Share by Price Tier (2015-2020): Low-End, Mid-Range and High-End
5 Global Reflective Tape Historic Market Analysis by Application
5.1 Global Reflective Tape Sales Market Share by Application (2015-2020)
5.2 Global Reflective Tape Revenue Market Share by Application (2015-2020)
5.3 Global Reflective Tape Price by Application (2015-2020)
6 Company Profiles and Key Figures in Reflective Tape Business
6.1 3M
6.1.1 Corporation Information
6.1.2 3M Description, Business Overview
6.1.3 3M Reflective Tape Sales, Revenue and Gross Margin (2015-2020)
6.1.4 3M Products Offered
6.1.5 3M Recent Development
6.2 Reflomax
6.2.1 Corporation Information
6.2.2 Reflomax Description, Business Overview
6.2.3 Reflomax Reflective Tape Sales, Revenue and Gross Margin (2015-2020)
6.2.4 Reflomax Products Offered
6.2.5 Reflomax Recent Development
6.3 Qualisys
6.3.1 Corporation Information
6.3.2 Qualisys Description, Business Overview
6.3.3 Qualisys Reflective Tape Sales, Revenue and Gross Margin (2015-2020)
6.3.4 Qualisys Products Offered
6.3.5 Qualisys Recent Development
6.4 Scott Safety
6.4.1 Corporation Information
6.4.2 Scott Safety Description, Business Overview
6.4.3 Scott Safety Reflective Tape Sales, Revenue and Gross Margin (2015-2020)
6.4.4 Scott Safety Products Offered
6.4.5 Scott Safety Recent Development
7 Reflective Tape Manufacturing Cost Analysis
7.1 Reflective Tape Key Raw Materials Analysis
7.1.1 Key Raw Materials
7.1.2 Key Raw Materials Price Trend
7.1.3 Key Suppliers of Raw Materials
7.2 Proportion of Manufacturing Cost Structure
7.3 Manufacturing Process Analysis of Reflective Tape
7.4 Reflective Tape Industrial Chain Analysis
8 Marketing Channel, Distributors and Customers
8.1 Marketing Channel
8.2 Reflective Tape Distributors List
8.3 Reflective Tape Customers
9 Market Dynamics
9.1 Market Overview
9.2 Market Trends
9.3 Market Inclination Insights Analysis
9.4 Drivers
9.5 Opportunities
9.6 Challenges
9.7 Future Prospects
9.8 Impact Analysis of Drivers and Challenges During the Forecast Period, (2018-2028)
10 Global Market Forecast
10.1 Global Reflective Tape Market Estimates and Projections by Type
10.1.1 Global Forecasted Sales of Reflective Tape by Type (2021-2026)
10.1.2 Global Forecasted Revenue of Reflective Tape by Type (2021-2026)
10.2 Reflective Tape Market Estimates and Projections by Application
10.2.1 Global Forecasted Sales of Reflective Tape by Application (2021-2026)
10.2.2 Global Forecasted Revenue of Reflective Tape by Application (2021-2026)
10.3 Reflective Tape Market Estimates and Projections by Region
10.3.1 Global Forecasted Sales of Reflective Tape by Region (2021-2026)
10.3.2 Global Forecasted Revenue of Reflective Tape by Region (2021-2026)
11 Research Finding and Conclusion
12 Methodology and Data Source
12.1 Methodology/Research Approach
12.1.1 Research Programs/Design
12.1.2 Market Size Estimation
12.1.3 Market Breakdown and Data Triangulation
12.2 Data Source
12.2.1 Secondary Sources
12.2.2 Primary Sources
12.3 Author List
12.4 Disclaimer
