Global Carbon Fiber Resin Market (2025-2031) | Outlook, Strategy, Competition, Industry, Opportunities, Revenue, Pricing Analysis, Competitive, Segments, Analysis, Demand, Value, Investment Trends, Restraints, Drivers, Companies, Size, Strategic Insights, Challenges, Supply, Forecast, Consumer Insights, Trends, Growth, Share, Segmentation

Market Forecast by Regions and Countries (North America, Europe, LATAM, Middle East, Asia and Africa), By Resin Type (Thermoset, Thermoplastic), By Form (Prepreg, Non-Prepreg) And Competitive Landscape
Product Code: ETC13403905 Publication Date: Apr 2025 Updated Date: Jul 2025 Product Type: Market Research Report
Publisher: 6Wresearch Author: Sachin Kumar Rai No. of Pages: 190 No. of Figures: 80 No. of Tables: 40

Global Carbon Fiber Resin Market Size & Growth Rate

According to 6Wresearch internal database and industry insights, the Global Carbon Fiber Resin Market was valued at USD 0.8 Billion in 2024 and is expected to reach USD 1.2 Billion by 2031, growing at a compound annual growth rate of 6.30% during the forecast period (2025-2031).

Global Carbon Fiber Resin Market Overview

The global carbon fiber resin market is experiencing steady growth driven by the increasing demand for lightweight and high-performance materials in various industries such as aerospace, automotive, wind energy, and sporting goods. Carbon fiber reinforced resins offer superior strength-to-weight ratio, corrosion resistance, and durability, making them ideal for applications requiring enhanced mechanical properties. The market is witnessing continuous innovation in resin formulations to enhance compatibility with carbon fiber composites, improve processing efficiency, and reduce overall production costs. Key players in the market are focusing on research and development activities to introduce bio-based resins and recyclable materials to cater to the growing sustainability concerns among end-users. Geographically, Asia-Pacific is expected to dominate the market due to the rapid industrialization, infrastructure development, and increasing investments in advanced materials technologies.

Global Carbon Fiber Resin Market Trends and Opportunities

The Global Carbon Fiber Resin Market is experiencing growth due to the increasing demand for lightweight and high-performance materials in industries such as aerospace, automotive, and wind energy. The trend towards sustainability and energy efficiency is also driving the market, as carbon fiber composites offer a viable alternative to traditional materials. Additionally, advancements in resin technology, such as improved curing processes and enhanced mechanical properties, are expanding the application scope of carbon fiber composites. Opportunities in the market include the development of bio-based resins, increased focus on recycling and circular economy practices, and the growing adoption of carbon fiber composites in emerging sectors like sports and leisure. Overall, the Global Carbon Fiber Resin Market is poised for continued growth and innovation.

Global Carbon Fiber Resin Market Challenges

The Global Carbon Fiber Resin Market faces several challenges, including high production costs, limited availability of raw materials, and the need for advanced manufacturing processes. The cost of carbon fiber resin production is a significant barrier, as it requires specialized equipment and technology, resulting in higher prices for end-users. Additionally, the availability of raw materials, such as carbon fibers and resins, can be inconsistent, leading to supply chain disruptions. Moreover, the development of advanced manufacturing processes to optimize the performance and properties of carbon fiber resin composites remains a challenge for manufacturers. Addressing these challenges will be crucial for the sustainable growth of the Global Carbon Fiber Resin Market.

Global Carbon Fiber Resin Market Drivers

The Global Carbon Fiber Resin Market is primarily driven by the increasing demand for lightweight and high-performance materials in industries such as aerospace, automotive, and wind energy. Carbon fiber reinforced resins offer superior strength-to-weight ratio, corrosion resistance, and durability, making them ideal for applications requiring high performance and fuel efficiency. The growing emphasis on reducing carbon emissions and improving sustainability in various sectors is also fueling the adoption of carbon fiber resins as they enable the production of lighter and more fuel-efficient products. Additionally, advancements in resin formulations and manufacturing technologies are further propelling market growth by enhancing the properties and processing capabilities of carbon fiber composites.

Global Carbon Fiber Resin Market Government Policy

Government policies related to the Global Carbon Fiber Resin Market primarily focus on promoting sustainability and reducing carbon emissions. Many countries have implemented regulations and incentives to encourage the use of carbon fiber materials, including resins, in various industries such as automotive, aerospace, and construction. These policies often include tax breaks, subsidies, and research funding to support the development and adoption of carbon fiber composites. Additionally, governments are increasingly imposing strict environmental standards and emissions targets, pushing industries to invest in eco-friendly materials like carbon fiber resin to minimize their carbon footprint. Overall, the regulatory landscape is evolving to incentivize the shift towards more sustainable and low-carbon technologies, driving the growth of the global carbon fiber resin market.

Global Carbon Fiber Resin Market Future Outlook

The Global Carbon Fiber Resin Market is expected to witness significant growth in the coming years, driven by the increasing demand for lightweight and high-performance materials across various industries such as automotive, aerospace, and wind energy. The shift towards sustainable and eco-friendly alternatives is also contributing to the market growth, as carbon fiber resins offer superior strength-to-weight ratio and durability compared to traditional materials. Technological advancements in resin formulations and manufacturing processes are further enhancing the performance characteristics of carbon fiber composites, making them increasingly attractive for a wide range of applications. As companies continue to invest in research and development activities to innovate new products and expand their market presence, the Global Carbon Fiber Resin Market is poised for steady expansion in the foreseeable future.

Global Carbon Fiber Resin Market Regional Insights

In the global carbon fiber resin market, Asia is anticipated to witness significant growth due to the expanding automotive and aerospace industries in countries like China, Japan, and South Korea. North America is expected to maintain a strong presence in the market, driven by the increasing demand for lightweight materials in the transportation sector. Europe is likely to experience steady growth supported by the rising adoption of carbon fiber composites in the construction and renewable energy sectors. The Middle East and Africa region is projected to show moderate growth, attributed to the growing focus on infrastructure development and renewable energy projects. Latin America is expected to offer growth opportunities due to the expanding automotive and sporting goods industries in countries like Brazil and Mexico.

Key Highlights of the Report:

  • Global Carbon Fiber Resin Market Outlook
  • Market Size of Global Carbon Fiber Resin Market, 2024
  • Forecast of Global Carbon Fiber Resin Market, 2031
  • Historical Data and Forecast of Global Carbon Fiber Resin Revenues & Volume for the Period 2021 - 2031
  • Global Carbon Fiber Resin Market Trend Evolution
  • Global Carbon Fiber Resin Market Drivers and Challenges
  • Global Carbon Fiber Resin Price Trends
  • Global Carbon Fiber Resin Porter's Five Forces
  • Global Carbon Fiber Resin Industry Life Cycle
  • Historical Data and Forecast of Global Carbon Fiber Resin Market Revenues & Volume
  • Historical Data and Forecast of Global Carbon Fiber Resin Market Revenues & Volume By Resin Type for the Period 2021 - 2031
  • Historical Data and Forecast of Global Carbon Fiber Resin Market Revenues & Volume By Thermoset for the Period 2021 - 2031
  • Historical Data and Forecast of Global Carbon Fiber Resin Market Revenues & Volume By Thermoplastic for the Period 2021 - 2031
  • Historical Data and Forecast of Global Carbon Fiber Resin Market Revenues & Volume By Form for the Period 2021 - 2031
  • Historical Data and Forecast of Global Carbon Fiber Resin Market Revenues & Volume By Prepreg for the Period 2021 - 2031
  • Historical Data and Forecast of Global Carbon Fiber Resin Market Revenues & Volume By Non-Prepreg for the Period 2021 - 2031
  • Historical Data and Forecast of North America Carbon Fiber Resin Market Revenues & Volume By Resin Type for the Period 2021 - 2031
  • Historical Data and Forecast of North America Carbon Fiber Resin Market Revenues & Volume By Thermoset for the Period 2021 - 2031
  • Historical Data and Forecast of North America Carbon Fiber Resin Market Revenues & Volume By Thermoplastic for the Period 2021 - 2031
  • Historical Data and Forecast of North America Carbon Fiber Resin Market Revenues & Volume By Form for the Period 2021 - 2031
  • Historical Data and Forecast of North America Carbon Fiber Resin Market Revenues & Volume By Prepreg for the Period 2021 - 2031
  • Historical Data and Forecast of North America Carbon Fiber Resin Market Revenues & Volume By Non-Prepreg for the Period 2021 - 2031
  • Historical Data and Forecast of United States of America Carbon Fiber Resin Market Revenues & Volume for the Period 2021 - 2031
  • Historical Data and Forecast of Canada Carbon Fiber Resin Market Revenues & Volume for the Period 2021 - 2031
  • Historical Data and Forecast of Rest of North America Carbon Fiber Resin Market Revenues & Volume for the Period 2021 - 2031
  • Historical Data and Forecast of Latin America (LATAM) Carbon Fiber Resin Market Revenues & Volume By Resin Type for the Period 2021 - 2031
  • Historical Data and Forecast of Latin America (LATAM) Carbon Fiber Resin Market Revenues & Volume By Thermoset for the Period 2021 - 2031
  • Historical Data and Forecast of Latin America (LATAM) Carbon Fiber Resin Market Revenues & Volume By Thermoplastic for the Period 2021 - 2031
  • Historical Data and Forecast of Latin America (LATAM) Carbon Fiber Resin Market Revenues & Volume By Form for the Period 2021 - 2031
  • Historical Data and Forecast of Latin America (LATAM) Carbon Fiber Resin Market Revenues & Volume By Prepreg for the Period 2021 - 2031
  • Historical Data and Forecast of Latin America (LATAM) Carbon Fiber Resin Market Revenues & Volume By Non-Prepreg for the Period 2021 - 2031
  • Historical Data and Forecast of Brazil Carbon Fiber Resin Market Revenues & Volume for the Period 2021 - 2031
  • Historical Data and Forecast of Mexico Carbon Fiber Resin Market Revenues & Volume for the Period 2021 - 2031
  • Historical Data and Forecast of Argentina Carbon Fiber Resin Market Revenues & Volume for the Period 2021 - 2031
  • Historical Data and Forecast of Rest of LATAM Carbon Fiber Resin Market Revenues & Volume for the Period 2021 - 2031
  • Historical Data and Forecast of Asia Carbon Fiber Resin Market Revenues & Volume By Resin Type for the Period 2021 - 2031
  • Historical Data and Forecast of Asia Carbon Fiber Resin Market Revenues & Volume By Thermoset for the Period 2021 - 2031
  • Historical Data and Forecast of Asia Carbon Fiber Resin Market Revenues & Volume By Thermoplastic for the Period 2021 - 2031
  • Historical Data and Forecast of Asia Carbon Fiber Resin Market Revenues & Volume By Form for the Period 2021 - 2031
  • Historical Data and Forecast of Asia Carbon Fiber Resin Market Revenues & Volume By Prepreg for the Period 2021 - 2031
  • Historical Data and Forecast of Asia Carbon Fiber Resin Market Revenues & Volume By Non-Prepreg for the Period 2021 - 2031
  • Historical Data and Forecast of China Carbon Fiber Resin Market Revenues & Volume for the Period 2021 - 2031
  • Historical Data and Forecast of India Carbon Fiber Resin Market Revenues & Volume for the Period 2021 - 2031
  • Historical Data and Forecast of Japan Carbon Fiber Resin Market Revenues & Volume for the Period 2021 - 2031
  • Historical Data and Forecast of Rest of Asia Carbon Fiber Resin Market Revenues & Volume for the Period 2021 - 2031
  • Historical Data and Forecast of Africa Carbon Fiber Resin Market Revenues & Volume By Resin Type for the Period 2021 - 2031
  • Historical Data and Forecast of Africa Carbon Fiber Resin Market Revenues & Volume By Thermoset for the Period 2021 - 2031
  • Historical Data and Forecast of Africa Carbon Fiber Resin Market Revenues & Volume By Thermoplastic for the Period 2021 - 2031
  • Historical Data and Forecast of Africa Carbon Fiber Resin Market Revenues & Volume By Form for the Period 2021 - 2031
  • Historical Data and Forecast of Africa Carbon Fiber Resin Market Revenues & Volume By Prepreg for the Period 2021 - 2031
  • Historical Data and Forecast of Africa Carbon Fiber Resin Market Revenues & Volume By Non-Prepreg for the Period 2021 - 2031
  • Historical Data and Forecast of South Africa Carbon Fiber Resin Market Revenues & Volume for the Period 2021 - 2031
  • Historical Data and Forecast of Nigeria Carbon Fiber Resin Market Revenues & Volume for the Period 2021 - 2031
  • Historical Data and Forecast of Egypt Carbon Fiber Resin Market Revenues & Volume for the Period 2021 - 2031
  • Historical Data and Forecast of Rest of Africa Carbon Fiber Resin Market Revenues & Volume for the Period 2021 - 2031
  • Historical Data and Forecast of Europe Carbon Fiber Resin Market Revenues & Volume By Resin Type for the Period 2021 - 2031
  • Historical Data and Forecast of Europe Carbon Fiber Resin Market Revenues & Volume By Thermoset for the Period 2021 - 2031
  • Historical Data and Forecast of Europe Carbon Fiber Resin Market Revenues & Volume By Thermoplastic for the Period 2021 - 2031
  • Historical Data and Forecast of Europe Carbon Fiber Resin Market Revenues & Volume By Form for the Period 2021 - 2031
  • Historical Data and Forecast of Europe Carbon Fiber Resin Market Revenues & Volume By Prepreg for the Period 2021 - 2031
  • Historical Data and Forecast of Europe Carbon Fiber Resin Market Revenues & Volume By Non-Prepreg for the Period 2021 - 2031
  • Historical Data and Forecast of United Kingdom Carbon Fiber Resin Market Revenues & Volume for the Period 2021 - 2031
  • Historical Data and Forecast of France Carbon Fiber Resin Market Revenues & Volume for the Period 2021 - 2031
  • Historical Data and Forecast of Germany Carbon Fiber Resin Market Revenues & Volume for the Period 2021 - 2031
  • Historical Data and Forecast of Rest of Europe Carbon Fiber Resin Market Revenues & Volume for the Period 2021 - 2031
  • Historical Data and Forecast of Middle East Carbon Fiber Resin Market Revenues & Volume By Resin Type for the Period 2021 - 2031
  • Historical Data and Forecast of Middle East Carbon Fiber Resin Market Revenues & Volume By Thermoset for the Period 2021 - 2031
  • Historical Data and Forecast of Middle East Carbon Fiber Resin Market Revenues & Volume By Thermoplastic for the Period 2021 - 2031
  • Historical Data and Forecast of Middle East Carbon Fiber Resin Market Revenues & Volume By Form for the Period 2021 - 2031
  • Historical Data and Forecast of Middle East Carbon Fiber Resin Market Revenues & Volume By Prepreg for the Period 2021 - 2031
  • Historical Data and Forecast of Middle East Carbon Fiber Resin Market Revenues & Volume By Non-Prepreg for the Period 2021 - 2031
  • Historical Data and Forecast of Saudi Arabia Carbon Fiber Resin Market Revenues & Volume for the Period 2021 - 2031
  • Historical Data and Forecast of UAE Carbon Fiber Resin Market Revenues & Volume for the Period 2021 - 2031
  • Historical Data and Forecast of Turkey Carbon Fiber Resin Market Revenues & Volume for the Period 2021 - 2031
  • Historical Data and Forecast of Rest of Middle East Carbon Fiber Resin Market Revenues & Volume for the Period 2021 - 2031
  • Global Carbon Fiber Resin Market - Key Performance Indicators
  • Global Carbon Fiber Resin Market - Import Export Trade Statistics
  • Global Carbon Fiber Resin Market - Opportunity Assessment By Countries
  • Global Carbon Fiber Resin Market - Opportunity Assessment By Resin Type
  • Global Carbon Fiber Resin Market - Opportunity Assessment By Form
  • Global Carbon Fiber Resin Market - Top Companies Market Share
  • Global Carbon Fiber Resin Market - Top Companies Profiles
  • Global Carbon Fiber Resin Market - Comparison of Players in Technical and Operating Parameters
  • Global Carbon Fiber Resin Market - Strategic Recommendations

Frequently Asked Questions About the Market Study (FAQs):

The Global Carbon Fiber Resin Market size was valued USD 0.8 Billion in 2024 and is projected to reach USD 1.2 Billion by 2031.
The expected growth rate of the Global Carbon Fiber Resin Market is 6.30% during the forecast period.
6Wresearch actively monitors the Global Carbon Fiber Resin Market and publishes its comprehensive annual report, highlighting emerging trends, growth drivers, revenue analysis, and forecast outlook. Our insights help businesses to make data-backed strategic decisions with ongoing market dynamics. Our analysts track relevent industries related to the Global Carbon Fiber Resin Market, allowing our clients with actionable intelligence and reliable forecasts tailored to emerging regional needs.
Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com

Global Carbon Fiber Resin Market

1 Executive Summary

2 Introduction

2.1 Key Highlights of the Report

2.2 Report Description

2.3 Market Scope & Segmentation

2.4 Research Methodology

2.5 Assumptions

3 Global Carbon Fiber Resin Market Overview

3.1 Global Regional Macro Economic Indicators

3.2 Global Carbon Fiber Resin Market Revenues & Volume, 2021 & 2031F

3.3 Global Carbon Fiber Resin Market - Industry Life Cycle

3.4 Global Carbon Fiber Resin Market - Porter's Five Forces

3.5 Global Carbon Fiber Resin Market Revenues & Volume Share, By Regions, 2021 & 2031F

3.6 Global Carbon Fiber Resin Market Revenues & Volume Share, By Resin Type, 2021 & 2031F

3.7 Global Carbon Fiber Resin Market Revenues & Volume Share, By Form, 2021 & 2031F

4 Global Carbon Fiber Resin Market Dynamics

4.1 Impact Analysis

4.2 Market Drivers

4.3 Market Restraints

5 Global Carbon Fiber Resin Market Trends

6 Global Carbon Fiber Resin Market, 2021 - 2031

6.1 Global Carbon Fiber Resin Market, Revenues & Volume, By Resin Type, 2021 - 2031

6.1.1 Overview & Analysis

6.1.2 Global Carbon Fiber Resin Market, Revenues & Volume, By Thermoset, 2021 - 2031

6.1.3 Global Carbon Fiber Resin Market, Revenues & Volume, By Thermoplastic, 2021 - 2031

6.2 Global Carbon Fiber Resin Market, Revenues & Volume, By Form, 2021 - 2031

6.2.1 Overview & Analysis

6.2.2 Global Carbon Fiber Resin Market, Revenues & Volume, By Prepreg, 2021 - 2031

6.2.3 Global Carbon Fiber Resin Market, Revenues & Volume, By Non-Prepreg, 2021 - 2031

6.3.1 Overview & Analysis

7 North America Carbon Fiber Resin Market, Overview & Analysis

7.1 North America Carbon Fiber Resin Market Revenues & Volume, 2021 - 2031

7.2 North America Carbon Fiber Resin Market, Revenues & Volume, By Countries, 2021 - 2031

7.2.1 United States (US) Carbon Fiber Resin Market, Revenues & Volume, 2021 - 2031

7.2.2 Canada Carbon Fiber Resin Market, Revenues & Volume, 2021 - 2031

7.2.3 Rest of North America Carbon Fiber Resin Market, Revenues & Volume, 2021 - 2031

7.3 North America Carbon Fiber Resin Market, Revenues & Volume, By Resin Type, 2021 - 2031

7.4 North America Carbon Fiber Resin Market, Revenues & Volume, By Form, 2021 - 2031

8 Latin America (LATAM) Carbon Fiber Resin Market, Overview & Analysis

8.1 Latin America (LATAM) Carbon Fiber Resin Market Revenues & Volume, 2021 - 2031

8.2 Latin America (LATAM) Carbon Fiber Resin Market, Revenues & Volume, By Countries, 2021 - 2031

8.2.1 Brazil Carbon Fiber Resin Market, Revenues & Volume, 2021 - 2031

8.2.2 Mexico Carbon Fiber Resin Market, Revenues & Volume, 2021 - 2031

8.2.3 Argentina Carbon Fiber Resin Market, Revenues & Volume, 2021 - 2031

8.2.4 Rest of LATAM Carbon Fiber Resin Market, Revenues & Volume, 2021 - 2031

8.3 Latin America (LATAM) Carbon Fiber Resin Market, Revenues & Volume, By Resin Type, 2021 - 2031

8.4 Latin America (LATAM) Carbon Fiber Resin Market, Revenues & Volume, By Form, 2021 - 2031

9 Asia Carbon Fiber Resin Market, Overview & Analysis

9.1 Asia Carbon Fiber Resin Market Revenues & Volume, 2021 - 2031

9.2 Asia Carbon Fiber Resin Market, Revenues & Volume, By Countries, 2021 - 2031

9.2.1 India Carbon Fiber Resin Market, Revenues & Volume, 2021 - 2031

9.2.2 China Carbon Fiber Resin Market, Revenues & Volume, 2021 - 2031

9.2.3 Japan Carbon Fiber Resin Market, Revenues & Volume, 2021 - 2031

9.2.4 Rest of Asia Carbon Fiber Resin Market, Revenues & Volume, 2021 - 2031

9.3 Asia Carbon Fiber Resin Market, Revenues & Volume, By Resin Type, 2021 - 2031

9.4 Asia Carbon Fiber Resin Market, Revenues & Volume, By Form, 2021 - 2031

10 Africa Carbon Fiber Resin Market, Overview & Analysis

10.1 Africa Carbon Fiber Resin Market Revenues & Volume, 2021 - 2031

10.2 Africa Carbon Fiber Resin Market, Revenues & Volume, By Countries, 2021 - 2031

10.2.1 South Africa Carbon Fiber Resin Market, Revenues & Volume, 2021 - 2031

10.2.2 Egypt Carbon Fiber Resin Market, Revenues & Volume, 2021 - 2031

10.2.3 Nigeria Carbon Fiber Resin Market, Revenues & Volume, 2021 - 2031

10.2.4 Rest of Africa Carbon Fiber Resin Market, Revenues & Volume, 2021 - 2031

10.3 Africa Carbon Fiber Resin Market, Revenues & Volume, By Resin Type, 2021 - 2031

10.4 Africa Carbon Fiber Resin Market, Revenues & Volume, By Form, 2021 - 2031

11 Europe Carbon Fiber Resin Market, Overview & Analysis

11.1 Europe Carbon Fiber Resin Market Revenues & Volume, 2021 - 2031

11.2 Europe Carbon Fiber Resin Market, Revenues & Volume, By Countries, 2021 - 2031

11.2.1 United Kingdom Carbon Fiber Resin Market, Revenues & Volume, 2021 - 2031

11.2.2 Germany Carbon Fiber Resin Market, Revenues & Volume, 2021 - 2031

11.2.3 France Carbon Fiber Resin Market, Revenues & Volume, 2021 - 2031

11.2.4 Rest of Europe Carbon Fiber Resin Market, Revenues & Volume, 2021 - 2031

11.3 Europe Carbon Fiber Resin Market, Revenues & Volume, By Resin Type, 2021 - 2031

11.4 Europe Carbon Fiber Resin Market, Revenues & Volume, By Form, 2021 - 2031

12 Middle East Carbon Fiber Resin Market, Overview & Analysis

12.1 Middle East Carbon Fiber Resin Market Revenues & Volume, 2021 - 2031

12.2 Middle East Carbon Fiber Resin Market, Revenues & Volume, By Countries, 2021 - 2031

12.2.1 Saudi Arabia Carbon Fiber Resin Market, Revenues & Volume, 2021 - 2031

12.2.2 UAE Carbon Fiber Resin Market, Revenues & Volume, 2021 - 2031

12.2.3 Turkey Carbon Fiber Resin Market, Revenues & Volume, 2021 - 2031

12.3 Middle East Carbon Fiber Resin Market, Revenues & Volume, By Resin Type, 2021 - 2031

12.4 Middle East Carbon Fiber Resin Market, Revenues & Volume, By Form, 2021 - 2031

13 Global Carbon Fiber Resin Market Key Performance Indicators

14 Global Carbon Fiber Resin Market - Export/Import By Countries Assessment

15 Global Carbon Fiber Resin Market - Opportunity Assessment

15.1 Global Carbon Fiber Resin Market Opportunity Assessment, By Countries, 2021 & 2031F

15.2 Global Carbon Fiber Resin Market Opportunity Assessment, By Resin Type, 2021 & 2031F

15.3 Global Carbon Fiber Resin Market Opportunity Assessment, By Form, 2021 & 2031F

16 Global Carbon Fiber Resin Market - Competitive Landscape

16.1 Global Carbon Fiber Resin Market Revenue Share, By Companies, 2024

16.2 Global Carbon Fiber Resin Market Competitive Benchmarking, By Operating and Technical Parameters

17 Top 10 Company Profiles

18 Recommendations

19 Disclaimer

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