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

Market Forecast by Regions and Countries (North America, Europe, LATAM, Middle East, Asia and Africa), By Type (High Purity, Low Purity), By Application (Catalyst, PVC Additive, Others) And Competitive Landscape
Product Code: ETC13168256 Publication Date: Apr 2025 Updated Date: Jul 2025 Product Type: Market Research Report
Publisher: 6Wresearch Author: Vasudha No. of Pages: 190 No. of Figures: 80 No. of Tables: 40

Global Phosphonium Salt Market Size & Growth Rate

According to 6Wresearch internal database and industry insights, the Global Phosphonium Salt Market was valued at USD 0.65 Billion in 2024 and is expected to reach USD 0.9 Billion by 2031, growing at a compound annual growth rate of 5.70% during the forecast period (2025-2031).

Global Phosphonium Salt Market Overview

The global phosphonium salt market is experiencing steady growth due to the increasing demand for these compounds in various industries such as chemical processing, pharmaceuticals, and agriculture. Phosphonium salts are widely used as phase-transfer catalysts, flame retardants, and biocides, driving their market growth. The market is also benefiting from the rising adoption of phosphonium salts as additives in polymer production and water treatment processes. Additionally, advancements in manufacturing technologies and the expanding applications of phosphonium salts in the electronics and textile industries are further propelling market expansion. Geographically, Asia-Pacific is a key region for the phosphonium salt market, driven by the presence of major manufacturing hubs and the growing industrial activities in countries like China and India. Overall, the global phosphonium salt market is expected to continue its growth trajectory in the coming years.

Global Phosphonium Salt Market Trends and Opportunities

The Global Phosphonium Salt Market is witnessing a steady growth trajectory driven by increasing demand for flame retardants, water treatment chemicals, and pharmaceuticals. Emerging applications in the electronics industry for the production of semiconductor materials and in the agricultural sector for pesticide formulations are also contributing to market expansion. Growing awareness about environmental concerns and the shift towards sustainable chemicals are creating opportunities for the development of eco-friendly phosphonium salts. Additionally, advancements in research and development to enhance the properties and applications of phosphonium salts are likely to open new avenues for market growth. Collaborations and partnerships between key players to introduce innovative products and expand their market presence are expected to further propel the market forward.

Global Phosphonium Salt Market Challenges

The Global Phosphonium Salt Market faces several challenges, including fluctuating raw material prices, environmental concerns, and regulatory hurdles. The volatility in raw material prices, such as phosphorus-based compounds, can impact production costs and profitability for phosphonium salt manufacturers. Additionally, environmental regulations regarding the use and disposal of phosphonium salts, which are commonly used in industrial applications like flame retardants and water treatment chemicals, present challenges in terms of compliance and sustainability practices. Furthermore, evolving regulatory frameworks and increasing scrutiny on chemical substances can create barriers to market entry and expansion for companies operating in the phosphonium salt industry. Navigating these challenges requires strategic planning, innovation in product development, and proactive engagement with regulatory authorities to ensure long-term viability in the market.

Global Phosphonium Salt Market Drivers

The Global Phosphonium Salt Market is primarily driven by the increasing demand for these salts in various industries such as pharmaceuticals, agriculture, and water treatment due to their excellent properties including antimicrobial, flame retardant, and phase transfer catalysis capabilities. Additionally, the growing awareness about the benefits of phosphonium salts in enhancing product performance and efficiency, as well as their environmentally friendly nature, is fueling market growth. Furthermore, the expanding applications of phosphonium salts in niche sectors like electronics, cosmetics, and polymer industries are also contributing to the market expansion. Technological advancements leading to the development of innovative phosphonium salt products with enhanced properties and functionalities are further propelling market growth and are expected to drive the market in the coming years.

Global Phosphonium Salt Market Government Policy

Government policies related to the Global Phosphonium Salt Market typically focus on regulation of production, import/export, safety standards, and environmental impact. Regulatory bodies such as the Environmental Protection Agency (EPA) in the United States and the European Chemicals Agency (ECHA) in the EU set guidelines for the usage of phosphonium salts in various industries. These policies often require manufacturers to comply with specific labeling, handling, and disposal requirements to ensure safe use and minimize environmental risks. Additionally, governments may impose tariffs or trade restrictions on phosphonium salt imports to protect domestic producers. Overall, government policies play a crucial role in shaping the market dynamics and influencing the growth trajectory of the Global Phosphonium Salt Market.

Global Phosphonium Salt Market Future Outlook

The Global Phosphonium Salt Market is poised for steady growth in the coming years due to increasing demand from various industries such as pharmaceuticals, agrochemicals, and water treatment. The market is expected to witness a rise in research and development activities to explore new applications and formulations of phosphonium salts, driving innovation and market expansion. Additionally, the growing awareness about the benefits of phosphonium salts in promoting sustainable agricultural practices and environmental protection is likely to further boost market growth. However, challenges such as regulatory constraints and fluctuations in raw material prices may hinder the market`s growth to some extent. Overall, the Global Phosphonium Salt Market is anticipated to experience moderate to strong growth in the foreseeable future, propelled by expanding end-user industries and technological advancements.

Global Phosphonium Salt Market Regional Insights

In the Global Phosphonium Salt Market, Asia is expected to dominate due to the presence of key phosphonium salt manufacturers in countries like China and India. North America is also a significant market, driven by the growing demand for phosphonium salts in various industries such as agriculture and pharmaceuticals. Europe is witnessing steady growth in the phosphonium salt market, particularly in the water treatment and chemical sectors. The Middle East and Africa region is experiencing increasing adoption of phosphonium salts in oil and gas exploration activities. Latin America is anticipated to show a moderate growth rate in the phosphonium salt market, driven by the expanding industrial and agricultural sectors in countries like Brazil and Argentina.

Key Highlights of the Report:

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

Frequently Asked Questions About the Market Study (FAQs):

The Global Phosphonium Salt Market size was valued USD 0.65 Billion in 2024 and is projected to reach USD 0.9 Billion by 2031.
The expected growth rate of the Global Phosphonium Salt Market is 5.70% during the forecast period.
6Wresearch actively monitors the Global Phosphonium Salt 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 Phosphonium Salt 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 Phosphonium Salt 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 Phosphonium Salt Market Overview

3.1 Global Regional Macro Economic Indicators

3.2 Global Phosphonium Salt Market Revenues & Volume, 2021 & 2031F

3.3 Global Phosphonium Salt Market - Industry Life Cycle

3.4 Global Phosphonium Salt Market - Porter's Five Forces

3.5 Global Phosphonium Salt Market Revenues & Volume Share, By Regions, 2021 & 2031F

3.6 Global Phosphonium Salt Market Revenues & Volume Share, By Type, 2021 & 2031F

3.7 Global Phosphonium Salt Market Revenues & Volume Share, By Application, 2021 & 2031F

4 Global Phosphonium Salt Market Dynamics

4.1 Impact Analysis

4.2 Market Drivers

4.3 Market Restraints

5 Global Phosphonium Salt Market Trends

6 Global Phosphonium Salt Market, 2021 - 2031

6.1 Global Phosphonium Salt Market, Revenues & Volume, By Type, 2021 - 2031

6.1.1 Overview & Analysis

6.1.2 Global Phosphonium Salt Market, Revenues & Volume, By High Purity, 2021 - 2031

6.1.3 Global Phosphonium Salt Market, Revenues & Volume, By Low Purity, 2021 - 2031

6.2 Global Phosphonium Salt Market, Revenues & Volume, By Application, 2021 - 2031

6.2.1 Overview & Analysis

6.2.2 Global Phosphonium Salt Market, Revenues & Volume, By Catalyst, 2021 - 2031

6.2.3 Global Phosphonium Salt Market, Revenues & Volume, By PVC Additive, 2021 - 2031

6.2.4 Global Phosphonium Salt Market, Revenues & Volume, By Others, 2021 - 2031

6.3.1 Overview & Analysis

7 North America Phosphonium Salt Market, Overview & Analysis

7.1 North America Phosphonium Salt Market Revenues & Volume, 2021 - 2031

7.2 North America Phosphonium Salt Market, Revenues & Volume, By Countries, 2021 - 2031

7.2.1 United States (US) Phosphonium Salt Market, Revenues & Volume, 2021 - 2031

7.2.2 Canada Phosphonium Salt Market, Revenues & Volume, 2021 - 2031

7.2.3 Rest of North America Phosphonium Salt Market, Revenues & Volume, 2021 - 2031

7.3 North America Phosphonium Salt Market, Revenues & Volume, By Type, 2021 - 2031

7.4 North America Phosphonium Salt Market, Revenues & Volume, By Application, 2021 - 2031

8 Latin America (LATAM) Phosphonium Salt Market, Overview & Analysis

8.1 Latin America (LATAM) Phosphonium Salt Market Revenues & Volume, 2021 - 2031

8.2 Latin America (LATAM) Phosphonium Salt Market, Revenues & Volume, By Countries, 2021 - 2031

8.2.1 Brazil Phosphonium Salt Market, Revenues & Volume, 2021 - 2031

8.2.2 Mexico Phosphonium Salt Market, Revenues & Volume, 2021 - 2031

8.2.3 Argentina Phosphonium Salt Market, Revenues & Volume, 2021 - 2031

8.2.4 Rest of LATAM Phosphonium Salt Market, Revenues & Volume, 2021 - 2031

8.3 Latin America (LATAM) Phosphonium Salt Market, Revenues & Volume, By Type, 2021 - 2031

8.4 Latin America (LATAM) Phosphonium Salt Market, Revenues & Volume, By Application, 2021 - 2031

9 Asia Phosphonium Salt Market, Overview & Analysis

9.1 Asia Phosphonium Salt Market Revenues & Volume, 2021 - 2031

9.2 Asia Phosphonium Salt Market, Revenues & Volume, By Countries, 2021 - 2031

9.2.1 India Phosphonium Salt Market, Revenues & Volume, 2021 - 2031

9.2.2 China Phosphonium Salt Market, Revenues & Volume, 2021 - 2031

9.2.3 Japan Phosphonium Salt Market, Revenues & Volume, 2021 - 2031

9.2.4 Rest of Asia Phosphonium Salt Market, Revenues & Volume, 2021 - 2031

9.3 Asia Phosphonium Salt Market, Revenues & Volume, By Type, 2021 - 2031

9.4 Asia Phosphonium Salt Market, Revenues & Volume, By Application, 2021 - 2031

10 Africa Phosphonium Salt Market, Overview & Analysis

10.1 Africa Phosphonium Salt Market Revenues & Volume, 2021 - 2031

10.2 Africa Phosphonium Salt Market, Revenues & Volume, By Countries, 2021 - 2031

10.2.1 South Africa Phosphonium Salt Market, Revenues & Volume, 2021 - 2031

10.2.2 Egypt Phosphonium Salt Market, Revenues & Volume, 2021 - 2031

10.2.3 Nigeria Phosphonium Salt Market, Revenues & Volume, 2021 - 2031

10.2.4 Rest of Africa Phosphonium Salt Market, Revenues & Volume, 2021 - 2031

10.3 Africa Phosphonium Salt Market, Revenues & Volume, By Type, 2021 - 2031

10.4 Africa Phosphonium Salt Market, Revenues & Volume, By Application, 2021 - 2031

11 Europe Phosphonium Salt Market, Overview & Analysis

11.1 Europe Phosphonium Salt Market Revenues & Volume, 2021 - 2031

11.2 Europe Phosphonium Salt Market, Revenues & Volume, By Countries, 2021 - 2031

11.2.1 United Kingdom Phosphonium Salt Market, Revenues & Volume, 2021 - 2031

11.2.2 Germany Phosphonium Salt Market, Revenues & Volume, 2021 - 2031

11.2.3 France Phosphonium Salt Market, Revenues & Volume, 2021 - 2031

11.2.4 Rest of Europe Phosphonium Salt Market, Revenues & Volume, 2021 - 2031

11.3 Europe Phosphonium Salt Market, Revenues & Volume, By Type, 2021 - 2031

11.4 Europe Phosphonium Salt Market, Revenues & Volume, By Application, 2021 - 2031

12 Middle East Phosphonium Salt Market, Overview & Analysis

12.1 Middle East Phosphonium Salt Market Revenues & Volume, 2021 - 2031

12.2 Middle East Phosphonium Salt Market, Revenues & Volume, By Countries, 2021 - 2031

12.2.1 Saudi Arabia Phosphonium Salt Market, Revenues & Volume, 2021 - 2031

12.2.2 UAE Phosphonium Salt Market, Revenues & Volume, 2021 - 2031

12.2.3 Turkey Phosphonium Salt Market, Revenues & Volume, 2021 - 2031

12.3 Middle East Phosphonium Salt Market, Revenues & Volume, By Type, 2021 - 2031

12.4 Middle East Phosphonium Salt Market, Revenues & Volume, By Application, 2021 - 2031

13 Global Phosphonium Salt Market Key Performance Indicators

14 Global Phosphonium Salt Market - Export/Import By Countries Assessment

15 Global Phosphonium Salt Market - Opportunity Assessment

15.1 Global Phosphonium Salt Market Opportunity Assessment, By Countries, 2021 & 2031F

15.2 Global Phosphonium Salt Market Opportunity Assessment, By Type, 2021 & 2031F

15.3 Global Phosphonium Salt Market Opportunity Assessment, By Application, 2021 & 2031F

16 Global Phosphonium Salt Market - Competitive Landscape

16.1 Global Phosphonium Salt Market Revenue Share, By Companies, 2024

16.2 Global Phosphonium Salt Market Competitive Benchmarking, By Operating and Technical Parameters

17 Top 10 Company Profiles

18 Recommendations

19 Disclaimer

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