Global Superhard Cutting Tool Competitive Landscape Professional Research Report 2024

Research Summary

A superhard cutting tool is a specialized tool used in machining processes to cut, shape, or remove material from a workpiece with exceptional hardness, durability, and wear resistance. These cutting tools are typically made from superhard materials such as polycrystalline diamond (PCD) or cubic boron nitride (CBN), which are among the hardest materials known to man, even surpassing the hardness of conventional tool steels and carbides. Superhard cutting tools are used in high-precision machining operations, particularly in industries such as aerospace, automotive, and metalworking, where materials such as hardened steels, cast iron, and exotic alloys are commonly machined. Due to their extreme hardness and wear resistance, superhard cutting tools maintain sharp cutting edges for longer periods, resulting in improved machining efficiency, higher productivity, and superior surface finish. They are essential for achieving tight tolerances, intricate shapes, and high-quality surface finishes in advanced manufacturing processes.

According to DIResearch's in-depth investigation and research, the global Superhard Cutting Tool market size will reach US$ XX Million in 2024, and is expected to reach US$ XX 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 US$ XX Million, accounting for approximately XX% of the world. It is expected to reach US$ XX Million in 2030, and the global share will reach XX%.

The major global manufacturers of Superhard Cutting Tool include Sumitomo, Kennametal, Mitsubishi, Mapal, Sandvik, Beijing Worldia Diamond Tools, Iscar, Funik Ultrahard Material, Shanghai Nagoya Precision Tools, Ingersoll Cutting Tools, YG-1, Kyocera, Weihai Weiying Tool, TaeguTec, Shenzhen Juntec Ultra-hard Tools, Preziss Tool, SF Diamond, Tungaloy, CERATIZIT S.A., Zhuzhou Cemented Carbide Cutting Tools, ZhengZhou Diamond Precision Manufacturing, Wirutex S.r.l., Korloy 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 Superhard Cutting Tool. 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 Superhard Cutting Tool market. The report data covers historical data from 2019 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 Superhard Cutting Tool 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 Superhard Cutting Tool 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 Superhard Cutting Tool Include:

Sumitomo

Kennametal

Mitsubishi

Mapal

Sandvik

Beijing Worldia Diamond Tools

Iscar

Funik Ultrahard Material

Shanghai Nagoya Precision Tools

Ingersoll Cutting Tools

YG-1

Kyocera

Weihai Weiying Tool

TaeguTec

Shenzhen Juntec Ultra-hard Tools

Preziss Tool

SF Diamond

Tungaloy

CERATIZIT S.A.

Zhuzhou Cemented Carbide Cutting Tools

ZhengZhou Diamond Precision Manufacturing

Wirutex S.r.l.

Korloy

Superhard Cutting Tool Product Segment Include:

CBN

PCD

Superhard Cutting Tool Product Application Include:

Metal Processing

Aerospace

Automobile Manufacturing

Electronics and Semiconductors

Others

Chapter Scope

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

Chapter 2: Global Superhard Cutting Tool Industry PESTEL Analysis

Chapter 3: Global Superhard Cutting Tool Industry Porter's Five Forces Analysis

Chapter 4: Global Superhard Cutting Tool Major Regional Market Size (Revenue, Sales, Price) and Forecast Analysis

Chapter 5: Global Superhard Cutting Tool Market Size and Forecast by Type and Application Analysis

Chapter 6: North America Superhard Cutting Tool Competitive Analysis (Market Size, Key Players and Market Share, Product Type and Application Segment Analysis, Countries Analysis)

Chapter 7: Europe Superhard Cutting Tool Competitive Analysis (Market Size, Key Players and Market Share, Product Type and Application Segment Analysis, Countries Analysis)

Chapter 8: China Superhard Cutting Tool Competitive Analysis (Market Size, Key Players and Market Share, Product Type and Application Segment Analysis, Countries Analysis)

Chapter 9: APAC (Excl. China) Superhard Cutting Tool Competitive Analysis (Market Size, Key Players and Market Share, Product Type and Application Segment Analysis, Countries Analysis)

Chapter 10: Latin America Superhard Cutting Tool Competitive Analysis (Market Size, Key Players and Market Share, Product Type and Application Segment Analysis, Countries Analysis)

Chapter 11: Middle East and Africa Superhard Cutting Tool Competitive Analysis (Market Size, Key Players and Market Share, Product Type and Application Segment Analysis, Countries Analysis)

Chapter 12: Global Superhard Cutting Tool Competitive Analysis of Key Manufacturers (Sales, Revenue, Market Share, Price, Regional Distribution and Industry Concentration)

Chapter 13: Key Company Profiles (Product Portfolio, Sales, Revenue, Price and Gross Margin)

Chapter 14: Industrial Chain Analysis, Include Raw Material Suppliers, Distributors and Customers

Chapter 15: Research Findings and Conclusion

Chapter 16: Methodology and Data Sources

Table of Contents

1 Superhard Cutting Tool Market Overview

1.1 Product Definition and Statistical Scope

1.2 Superhard Cutting Tool Product by Type

1.2.1 Global Superhard Cutting Tool Market Size by Type, 2023 VS 2024 VS 2030

1.2.2 CBN

1.2.3 PCD

1.3 Superhard Cutting Tool Product by Application

1.3.1 Global Superhard Cutting Tool Market Size by Application, 2023 VS 2024 VS 2030

1.3.2 Metal Processing

1.3.3 Aerospace

1.3.4 Automobile Manufacturing

1.3.5 Electronics and Semiconductors

1.3.6 Others

1.4 Global Superhard Cutting Tool Market Revenue and Sales Analysis

1.4.1 Global Superhard Cutting Tool Market Size Analysis (2019-2030)

1.4.2 Global Superhard Cutting Tool Market Sales Analysis (2019-2030)

1.4.3 Global Superhard Cutting Tool Market Sales Price Trend Analysis (2019-2030)

1.5 Superhard Cutting Tool Market Development Status and Trends

1.5.1 Superhard Cutting Tool Industry Development Status Analysis

1.5.2 Superhard Cutting Tool Industry Development Trends Analysis

2 Superhard Cutting Tool Market PESTEL Analysis

2.1 Political Factors Analysis

2.2 Economic Factors Analysis

2.3 Social Factors Analysis

2.4 Technological Factors Analysis

2.5 Environmental Factors Analysis

2.6 Legal Factors Analysis

3 Superhard Cutting Tool Market Porter's Five Forces Analysis

3.1 Competitive Rivalry

3.2 Threat of New Entrants

3.3 Bargaining Power of Suppliers

3.4 Bargaining Power of Buyers

3.5 Threat of Substitutes

4 Global Superhard Cutting Tool Market Analysis by Regions

4.1 Superhard Cutting Tool Overall Market: 2023 VS 2024 VS 2030

4.2 Global Superhard Cutting Tool Revenue and Forecast Analysis (2019-2030)

4.2.1 Global Superhard Cutting Tool Revenue and Market Share by Region (2019-2024)

4.2.2 Global Superhard Cutting Tool Revenue Forecast by Region (2025-2030)

4.3 Global Superhard Cutting Tool Sales and Forecast Analysis (2019-2030)

4.3.1 Global Superhard Cutting Tool Sales and Market Share by Region (2019-2024)

4.3.2 Global Superhard Cutting Tool Sales Forecast by Region (2025-2030)

4.4 Global Superhard Cutting Tool Sales Price Trend Analysis (2019-2030)

5 Global Superhard Cutting Tool Market Size by Type and Application

5.1 Global Superhard Cutting Tool Market Size by Type

5.1.1 Global Superhard Cutting Tool Revenue and Forecast Analysis by Type (2019-2030)

5.1.2 Global Superhard Cutting Tool Sales and Forecast Analysis by Type (2019-2030)

5.2 Global Superhard Cutting Tool Market Size by Application

5.2.1 Global Superhard Cutting Tool Revenue and Forecast Analysis by Application (2019-2030)

5.2.2 Global Superhard Cutting Tool Sales and Forecast Analysis by Application (2019-2030)

6 North America

6.1 North America Superhard Cutting Tool Market Size and Growth Rate Analysis (2019-2030)

6.2 North America Key Manufacturers Analysis

6.3 North America Superhard Cutting Tool Market Size by Type

6.3.1 North America Superhard Cutting Tool Sales by Type (2019-2030)

6.3.2 North America Superhard Cutting Tool Revenue by Type (2019-2030)

6.4 North America Superhard Cutting Tool Market Size by Application

6.4.1 North America Superhard Cutting Tool Sales by Application (2019-2030)

6.4.2 North America Superhard Cutting Tool Revenue by Application (2019-2030)

6.5 North America Superhard Cutting Tool Market Size by Country

6.5.1 US

6.5.2 Canada

7 Europe

7.1 Europe Superhard Cutting Tool Market Size and Growth Rate Analysis (2019-2030)

7.2 Europe Key Manufacturers Analysis

7.3 Europe Superhard Cutting Tool Market Size by Type

7.3.1 Europe Superhard Cutting Tool Sales by Type (2019-2030)

7.3.2 Europe Superhard Cutting Tool Revenue by Type (2019-2030)

7.4 Europe Superhard Cutting Tool Market Size by Application

7.4.1 Europe Superhard Cutting Tool Sales by Application (2019-2030)

7.4.2 ? Europe Superhard Cutting Tool Revenue by Application (2019-2030)

7.5 Europe Superhard Cutting Tool Market Size by Country

7.5.1 Germany

7.5.2 France

7.5.3 United Kingdom

7.5.4 Italy

7.5.5 Spain

7.5.6 Benelux

8 China

8.1 China Superhard Cutting Tool Market Size and Growth Rate Analysis (2019-2030)

8.2 China Key Manufacturers Analysis

8.3 China Superhard Cutting Tool Market Size by Type

8.3.1 China Superhard Cutting Tool Sales by Type (2019-2030)

8.3.2 China Superhard Cutting Tool Revenue by Type (2019-2030)

8.4 China Superhard Cutting Tool Market Size by Application

8.4.1 China Superhard Cutting Tool Sales by Application (2019-2030)

8.4.2 China Superhard Cutting Tool Revenue by Application (2019-2030)

9 APAC (excl. China)

9.1 APAC (excl. China) Superhard Cutting Tool Market Size and Growth Rate Analysis (2019-2030)

9.2 APAC (excl. China) Key Manufacturers Analysis

9.3 APAC (excl. China) Superhard Cutting Tool Market Size by Type

9.3.1 APAC (excl. China) Superhard Cutting Tool Sales by Type (2019-2030)

9.3.2 APAC (excl. China) Superhard Cutting Tool Revenue by Type (2019-2030)

9.4 APAC (excl. China) Superhard Cutting Tool Market Size by Application

9.4.1 APAC (excl. China) Superhard Cutting Tool Sales by Application (2019-2030)

9.4.2 APAC (excl. China) Superhard Cutting Tool Revenue by Application (2019-2030)

9.5 APAC (excl. China) Superhard Cutting Tool Market Size by Country

9.5.1 Japan

9.5.2 South Korea

9.5.3 India

9.5.4 Australia

9.5.5 Indonesia

9.5.6 Vietnam

9.5.7 Malaysia

9.5.8 Thailand

10 Latin America

10.1 Latin America Superhard Cutting Tool Market Size and Growth Rate Analysis (2019-2030)

10.2 Latin America Key Manufacturers Analysis

10.3 Latin America Superhard Cutting Tool Market Size by Type

10.3.1 Latin America Superhard Cutting Tool Sales by Type (2019-2030)

10.3.2 Latin America Superhard Cutting Tool Revenue by Type (2019-2030)

10.4 Latin America Superhard Cutting Tool Market Size by Application

10.4.1 Latin America Superhard Cutting Tool Sales by Application (2019-2030)

10.4.2 Latin America Superhard Cutting Tool Revenue by Application (2019-2030)

10.5 Latin America Superhard Cutting Tool Market Size by Country

10.5.1 Mexico

10.5.2 Brazil

11 Middle East & Africa

11.1 Middle East & Africa Superhard Cutting Tool Market Size and Growth Rate Analysis (2019-2030)

11.2 Middle East & Africa Key Manufacturers Analysis

11.3 Middle East & Africa Superhard Cutting Tool Market Size by Type

11.3.1 Middle East & Africa Superhard Cutting Tool Sales by Type (2019-2030)

11.3.2 Middle East & Africa Superhard Cutting Tool Revenue by Type (2019-2030)

11.4 Middle East & Africa Superhard Cutting Tool Market Size by Application

11.4.1 Middle East & Africa Superhard Cutting Tool Sales by Application (2019-2030)

11.4.2 Middle East & Africa Superhard Cutting Tool Revenue by Application (2019-2030)

11.5 Middle East & Africa Superhard Cutting Tool Market Size by Country

11.5.1 Saudi Arabia

11.5.2 South Africa

12 Competition by Manufacturers

12.1 Global Superhard Cutting Tool Market Sales, Revenue and Price by Key Manufacturers (2020-2024)

12.1.1 Global Superhard Cutting Tool Market Sales by Key Manufacturers (2020-2024)

12.1.2 Global Superhard Cutting Tool Market Revenue by Key Manufacturers (2020-2024)

12.1.3 Global Superhard Cutting Tool Average Sales Price by Manufacturers (2020-2024)

12.2 Superhard Cutting Tool Competitive Landscape Analysis and Market Dynamic

12.2.1 Superhard Cutting Tool Competitive Landscape Analysis

12.2.2 Global Key Manufacturers Headquarter Location and Key Area Sales

12.2.3 Market Dynamic

13 Key Companies Analysis

13.1 Sumitomo

13.1.1 Sumitomo Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)

13.1.2 Sumitomo Superhard Cutting Tool Product Portfolio

13.1.3 Sumitomo Superhard Cutting Tool Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)

13.2 Kennametal

13.2.1 Kennametal Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)

13.2.2 Kennametal Superhard Cutting Tool Product Portfolio

13.2.3 Kennametal Superhard Cutting Tool Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)

13.3 Mitsubishi

13.3.1 Mitsubishi Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)

13.3.2 Mitsubishi Superhard Cutting Tool Product Portfolio

13.3.3 Mitsubishi Superhard Cutting Tool Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)

13.4 Mapal

13.4.1 Mapal Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)

13.4.2 Mapal Superhard Cutting Tool Product Portfolio

13.4.3 Mapal Superhard Cutting Tool Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)

13.5 Sandvik

13.5.1 Sandvik Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)

13.5.2 Sandvik Superhard Cutting Tool Product Portfolio

13.5.3 Sandvik Superhard Cutting Tool Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)

13.6 Beijing Worldia Diamond Tools

13.6.1 Beijing Worldia Diamond Tools Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)

13.6.2 Beijing Worldia Diamond Tools Superhard Cutting Tool Product Portfolio

13.6.3 Beijing Worldia Diamond Tools Superhard Cutting Tool Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)

13.7 Iscar

13.7.1 Iscar Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)

13.7.2 Iscar Superhard Cutting Tool Product Portfolio

13.7.3 Iscar Superhard Cutting Tool Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)

13.8 Funik Ultrahard Material

13.8.1 Funik Ultrahard Material Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)

13.8.2 Funik Ultrahard Material Superhard Cutting Tool Product Portfolio

13.8.3 Funik Ultrahard Material Superhard Cutting Tool Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)

13.9 Shanghai Nagoya Precision Tools

13.9.1 Shanghai Nagoya Precision Tools Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)

13.9.2 Shanghai Nagoya Precision Tools Superhard Cutting Tool Product Portfolio

13.9.3 Shanghai Nagoya Precision Tools Superhard Cutting Tool Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)

13.10 Ingersoll Cutting Tools

13.10.1 Ingersoll Cutting Tools Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)

13.10.2 Ingersoll Cutting Tools Superhard Cutting Tool Product Portfolio

13.10.3 Ingersoll Cutting Tools Superhard Cutting Tool Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)

13.11 YG-1

13.11.1 YG-1 Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)

13.11.2 YG-1 Superhard Cutting Tool Product Portfolio

13.11.3 YG-1 Superhard Cutting Tool Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)

13.12 Kyocera

13.12.1 Kyocera Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)

13.12.2 Kyocera Superhard Cutting Tool Product Portfolio

13.12.3 Kyocera Superhard Cutting Tool Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)

13.13 Weihai Weiying Tool

13.13.1 Weihai Weiying Tool Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)

13.13.2 Weihai Weiying Tool Superhard Cutting Tool Product Portfolio

13.13.3 Weihai Weiying Tool Superhard Cutting Tool Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)

13.14 TaeguTec

13.14.1 TaeguTec Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)

13.14.2 TaeguTec Superhard Cutting Tool Product Portfolio

13.14.3 TaeguTec Superhard Cutting Tool Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)

13.15 Shenzhen Juntec Ultra-hard Tools

13.15.1 Shenzhen Juntec Ultra-hard Tools Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)

13.15.2 Shenzhen Juntec Ultra-hard Tools Superhard Cutting Tool Product Portfolio

13.15.3 Shenzhen Juntec Ultra-hard Tools Superhard Cutting Tool Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)

13.16 Preziss Tool

13.16.1 Preziss Tool Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)

13.16.2 Preziss Tool Superhard Cutting Tool Product Portfolio

13.16.3 Preziss Tool Superhard Cutting Tool Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)

13.17 SF Diamond

13.17.1 SF Diamond Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)

13.17.2 SF Diamond Superhard Cutting Tool Product Portfolio

13.17.3 SF Diamond Superhard Cutting Tool Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)

13.18 Tungaloy

13.18.1 Tungaloy Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)

13.18.2 Tungaloy Superhard Cutting Tool Product Portfolio

13.18.3 Tungaloy Superhard Cutting Tool Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)

13.19 CERATIZIT S.A.

13.19.1 CERATIZIT S.A. Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)

13.19.2 CERATIZIT S.A. Superhard Cutting Tool Product Portfolio

13.19.3 CERATIZIT S.A. Superhard Cutting Tool Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)

13.20 Zhuzhou Cemented Carbide Cutting Tools

13.20.1 Zhuzhou Cemented Carbide Cutting Tools Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)

13.20.2 Zhuzhou Cemented Carbide Cutting Tools Superhard Cutting Tool Product Portfolio

13.20.3 Zhuzhou Cemented Carbide Cutting Tools Superhard Cutting Tool Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)

13.21 ZhengZhou Diamond Precision Manufacturing

13.21.1 ZhengZhou Diamond Precision Manufacturing Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)

13.21.2 ZhengZhou Diamond Precision Manufacturing Superhard Cutting Tool Product Portfolio

13.21.3 ZhengZhou Diamond Precision Manufacturing Superhard Cutting Tool Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)

13.22 Wirutex S.r.l.

13.22.1 Wirutex S.r.l. Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)

13.22.2 Wirutex S.r.l. Superhard Cutting Tool Product Portfolio

13.22.3 Wirutex S.r.l. Superhard Cutting Tool Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)

13.23 Korloy

13.23.1 Korloy Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)

13.23.2 Korloy Superhard Cutting Tool Product Portfolio

13.23.3 Korloy Superhard Cutting Tool Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2020-2024)

14 Industry Chain Analysis

14.1 Superhard Cutting Tool Industry Chain Analysis

14.2 Superhard Cutting Tool Industry Upstream Supply Analysis

14.2.1 Upstream Key Raw Material Supply Analysis

14.2.2 Raw Material Suppliers and Contact Information

14.3 Superhard Cutting Tool Typical Downstream Customers

14.4 Superhard Cutting Tool Sales Channel Analysis

15 Research Findings and Conclusion

16 Methodology and Data Source

16.1 Methodology/Research Approach

16.2 Research Scope

16.3 Benchmarks and Assumptions

16.4 Date Source

16.4.1 Primary Sources

16.4.2 Secondary Sources

16.5 Data Cross Validation

16.6 Disclaimer

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