LPG (Liquefied Petroleum Gas) Market Size, Share & Trends Analysis Report By Source (Non-associated Gas, Associated Gas, Refinery), By Application (Residential and Commercial, Industrial, Petrochemical and Refinery, Autogas, Others), By Supply Mode (Packaged, Bulk, On-site) and By Region (North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2026-2034

Last Updated: September 01, 2026 | Author: Priyanka Nichite | Format:

Table Of Content

  1. Executive Summary

  2. Research Scope & Segmentation
    1. Research Objectives
    2. Limitations & Assumptions
    3. Market Scope & Segmentation
    4. Currency & Pricing Considered
  3. Market Opportunity Assessment
    1. Emerging Regions / Countries
    2. Emerging Companies
    3. Emerging Applications / End Use
  4. Market Trends
    1. Drivers
    2. Market Warning Factors
    3. Macro Economic Indicators
    4. Geopolitical Impact
    5. Technology Factors
  5. Market Assessment
    1. Porters Five Forces Analysis
    2. Value Chain Analysis
  6. LPG (Liquefied Petroleum Gas) Market Size Analysis
    1. Introduction
    2. LPG (Liquefied Petroleum Gas) Market Market Size & Forecast By Source 2022-2034 (USD MILLION/ Units)
      1. Non-associated Gas
      2. Associated Gas
      3. Refinery
    3. LPG (Liquefied Petroleum Gas) Market Market Size & Forecast By Application 2022-2034 (USD MILLION/ Units)
      1. Residential and Commercial
      2. Industrial
      3. Petrochemical and Refinery
      4. Autogas
      5. Others
    4. LPG (Liquefied Petroleum Gas) Market Market Size & Forecast By Supply Mode 2022-2034 (USD MILLION/ Units)
      1. Packaged
      2. Bulk
      3. On-site
  7. North America LPG (Liquefied Petroleum Gas) Market Size Analysis
    1. Introduction
    2. LPG (Liquefied Petroleum Gas) Market Market Size & Forecast By Source 2022-2034 (USD MILLION/ Units)
      1. Non-associated Gas
      2. Associated Gas
      3. Refinery
    3. LPG (Liquefied Petroleum Gas) Market Market Size & Forecast By Application 2022-2034 (USD MILLION/ Units)
      1. Residential and Commercial
      2. Industrial
      3. Petrochemical and Refinery
      4. Autogas
      5. Others
    4. LPG (Liquefied Petroleum Gas) Market Market Size & Forecast By Supply Mode 2022-2034 (USD MILLION/ Units)
      1. Packaged
      2. Bulk
      3. On-site
    5. U.S.
      1. Introduction
      2. Market Size & Forecast By Source 2022-2034 (USD MILLION/ Units)
        1. Non-associated Gas
        2. Associated Gas
        3. Refinery
      3. Market Size & Forecast By Application 2022-2034 (USD MILLION/ Units)
        1. Residential and Commercial
        2. Industrial
        3. Petrochemical and Refinery
        4. Autogas
        5. Others
      4. Market Size & Forecast By Supply Mode 2022-2034 (USD MILLION/ Units)
        1. Packaged
        2. Bulk
        3. On-site
    6. Canada
      1. Introduction
      2. Market Size & Forecast By Source 2022-2034 (USD MILLION/ Units)
        1. Non-associated Gas
        2. Associated Gas
        3. Refinery
      3. Market Size & Forecast By Application 2022-2034 (USD MILLION/ Units)
        1. Residential and Commercial
        2. Industrial
        3. Petrochemical and Refinery
        4. Autogas
        5. Others
      4. Market Size & Forecast By Supply Mode 2022-2034 (USD MILLION/ Units)
        1. Packaged
        2. Bulk
        3. On-site
  8. Europe LPG (Liquefied Petroleum Gas) Market Size Analysis
    1. Introduction
    2. LPG (Liquefied Petroleum Gas) Market Market Size & Forecast By Source 2022-2034 (USD MILLION/ Units)
      1. Non-associated Gas
      2. Associated Gas
      3. Refinery
    3. LPG (Liquefied Petroleum Gas) Market Market Size & Forecast By Application 2022-2034 (USD MILLION/ Units)
      1. Residential and Commercial
      2. Industrial
      3. Petrochemical and Refinery
      4. Autogas
      5. Others
    4. LPG (Liquefied Petroleum Gas) Market Market Size & Forecast By Supply Mode 2022-2034 (USD MILLION/ Units)
      1. Packaged
      2. Bulk
      3. On-site
    5. U.K.
      1. Introduction
      2. Market Size & Forecast By Source 2022-2034 (USD MILLION/ Units)
        1. Non-associated Gas
        2. Associated Gas
        3. Refinery
      3. Market Size & Forecast By Application 2022-2034 (USD MILLION/ Units)
        1. Residential and Commercial
        2. Industrial
        3. Petrochemical and Refinery
        4. Autogas
        5. Others
      4. Market Size & Forecast By Supply Mode 2022-2034 (USD MILLION/ Units)
        1. Packaged
        2. Bulk
        3. On-site
    6. Germany
      1. Introduction
      2. Market Size & Forecast By Source 2022-2034 (USD MILLION/ Units)
        1. Non-associated Gas
        2. Associated Gas
        3. Refinery
      3. Market Size & Forecast By Application 2022-2034 (USD MILLION/ Units)
        1. Residential and Commercial
        2. Industrial
        3. Petrochemical and Refinery
        4. Autogas
        5. Others
      4. Market Size & Forecast By Supply Mode 2022-2034 (USD MILLION/ Units)
        1. Packaged
        2. Bulk
        3. On-site
    7. France
      1. Introduction
      2. Market Size & Forecast By Source 2022-2034 (USD MILLION/ Units)
        1. Non-associated Gas
        2. Associated Gas
        3. Refinery
      3. Market Size & Forecast By Application 2022-2034 (USD MILLION/ Units)
        1. Residential and Commercial
        2. Industrial
        3. Petrochemical and Refinery
        4. Autogas
        5. Others
      4. Market Size & Forecast By Supply Mode 2022-2034 (USD MILLION/ Units)
        1. Packaged
        2. Bulk
        3. On-site
    8. Spain
      1. Introduction
      2. Market Size & Forecast By Source 2022-2034 (USD MILLION/ Units)
        1. Non-associated Gas
        2. Associated Gas
        3. Refinery
      3. Market Size & Forecast By Application 2022-2034 (USD MILLION/ Units)
        1. Residential and Commercial
        2. Industrial
        3. Petrochemical and Refinery
        4. Autogas
        5. Others
      4. Market Size & Forecast By Supply Mode 2022-2034 (USD MILLION/ Units)
        1. Packaged
        2. Bulk
        3. On-site
    9. Italy
      1. Introduction
      2. Market Size & Forecast By Source 2022-2034 (USD MILLION/ Units)
        1. Non-associated Gas
        2. Associated Gas
        3. Refinery
      3. Market Size & Forecast By Application 2022-2034 (USD MILLION/ Units)
        1. Residential and Commercial
        2. Industrial
        3. Petrochemical and Refinery
        4. Autogas
        5. Others
      4. Market Size & Forecast By Supply Mode 2022-2034 (USD MILLION/ Units)
        1. Packaged
        2. Bulk
        3. On-site
    10. Russia
      1. Introduction
      2. Market Size & Forecast By Source 2022-2034 (USD MILLION/ Units)
        1. Non-associated Gas
        2. Associated Gas
        3. Refinery
      3. Market Size & Forecast By Application 2022-2034 (USD MILLION/ Units)
        1. Residential and Commercial
        2. Industrial
        3. Petrochemical and Refinery
        4. Autogas
        5. Others
      4. Market Size & Forecast By Supply Mode 2022-2034 (USD MILLION/ Units)
        1. Packaged
        2. Bulk
        3. On-site
    11. Nordic
      1. Introduction
      2. Market Size & Forecast By Source 2022-2034 (USD MILLION/ Units)
        1. Non-associated Gas
        2. Associated Gas
        3. Refinery
      3. Market Size & Forecast By Application 2022-2034 (USD MILLION/ Units)
        1. Residential and Commercial
        2. Industrial
        3. Petrochemical and Refinery
        4. Autogas
        5. Others
      4. Market Size & Forecast By Supply Mode 2022-2034 (USD MILLION/ Units)
        1. Packaged
        2. Bulk
        3. On-site
    12. Benelux
      1. Introduction
      2. Market Size & Forecast By Source 2022-2034 (USD MILLION/ Units)
        1. Non-associated Gas
        2. Associated Gas
        3. Refinery
      3. Market Size & Forecast By Application 2022-2034 (USD MILLION/ Units)
        1. Residential and Commercial
        2. Industrial
        3. Petrochemical and Refinery
        4. Autogas
        5. Others
      4. Market Size & Forecast By Supply Mode 2022-2034 (USD MILLION/ Units)
        1. Packaged
        2. Bulk
        3. On-site
    13. Rest of Europe
      1. Introduction
      2. Market Size & Forecast By Source 2022-2034 (USD MILLION/ Units)
        1. Non-associated Gas
        2. Associated Gas
        3. Refinery
      3. Market Size & Forecast By Application 2022-2034 (USD MILLION/ Units)
        1. Residential and Commercial
        2. Industrial
        3. Petrochemical and Refinery
        4. Autogas
        5. Others
      4. Market Size & Forecast By Supply Mode 2022-2034 (USD MILLION/ Units)
        1. Packaged
        2. Bulk
        3. On-site
  9. APAC LPG (Liquefied Petroleum Gas) Market Size Analysis
    1. Introduction
    2. LPG (Liquefied Petroleum Gas) Market Market Size & Forecast By Source 2022-2034 (USD MILLION/ Units)
      1. Non-associated Gas
      2. Associated Gas
      3. Refinery
    3. LPG (Liquefied Petroleum Gas) Market Market Size & Forecast By Application 2022-2034 (USD MILLION/ Units)
      1. Residential and Commercial
      2. Industrial
      3. Petrochemical and Refinery
      4. Autogas
      5. Others
    4. LPG (Liquefied Petroleum Gas) Market Market Size & Forecast By Supply Mode 2022-2034 (USD MILLION/ Units)
      1. Packaged
      2. Bulk
      3. On-site
    5. China
      1. Introduction
      2. Market Size & Forecast By Source 2022-2034 (USD MILLION/ Units)
        1. Non-associated Gas
        2. Associated Gas
        3. Refinery
      3. Market Size & Forecast By Application 2022-2034 (USD MILLION/ Units)
        1. Residential and Commercial
        2. Industrial
        3. Petrochemical and Refinery
        4. Autogas
        5. Others
      4. Market Size & Forecast By Supply Mode 2022-2034 (USD MILLION/ Units)
        1. Packaged
        2. Bulk
        3. On-site
    6. Korea
      1. Introduction
      2. Market Size & Forecast By Source 2022-2034 (USD MILLION/ Units)
        1. Non-associated Gas
        2. Associated Gas
        3. Refinery
      3. Market Size & Forecast By Application 2022-2034 (USD MILLION/ Units)
        1. Residential and Commercial
        2. Industrial
        3. Petrochemical and Refinery
        4. Autogas
        5. Others
      4. Market Size & Forecast By Supply Mode 2022-2034 (USD MILLION/ Units)
        1. Packaged
        2. Bulk
        3. On-site
    7. Japan
      1. Introduction
      2. Market Size & Forecast By Source 2022-2034 (USD MILLION/ Units)
        1. Non-associated Gas
        2. Associated Gas
        3. Refinery
      3. Market Size & Forecast By Application 2022-2034 (USD MILLION/ Units)
        1. Residential and Commercial
        2. Industrial
        3. Petrochemical and Refinery
        4. Autogas
        5. Others
      4. Market Size & Forecast By Supply Mode 2022-2034 (USD MILLION/ Units)
        1. Packaged
        2. Bulk
        3. On-site
    8. India
      1. Introduction
      2. Market Size & Forecast By Source 2022-2034 (USD MILLION/ Units)
        1. Non-associated Gas
        2. Associated Gas
        3. Refinery
      3. Market Size & Forecast By Application 2022-2034 (USD MILLION/ Units)
        1. Residential and Commercial
        2. Industrial
        3. Petrochemical and Refinery
        4. Autogas
        5. Others
      4. Market Size & Forecast By Supply Mode 2022-2034 (USD MILLION/ Units)
        1. Packaged
        2. Bulk
        3. On-site
    9. Australia
      1. Introduction
      2. Market Size & Forecast By Source 2022-2034 (USD MILLION/ Units)
        1. Non-associated Gas
        2. Associated Gas
        3. Refinery
      3. Market Size & Forecast By Application 2022-2034 (USD MILLION/ Units)
        1. Residential and Commercial
        2. Industrial
        3. Petrochemical and Refinery
        4. Autogas
        5. Others
      4. Market Size & Forecast By Supply Mode 2022-2034 (USD MILLION/ Units)
        1. Packaged
        2. Bulk
        3. On-site
    10. Taiwan
      1. Introduction
      2. Market Size & Forecast By Source 2022-2034 (USD MILLION/ Units)
        1. Non-associated Gas
        2. Associated Gas
        3. Refinery
      3. Market Size & Forecast By Application 2022-2034 (USD MILLION/ Units)
        1. Residential and Commercial
        2. Industrial
        3. Petrochemical and Refinery
        4. Autogas
        5. Others
      4. Market Size & Forecast By Supply Mode 2022-2034 (USD MILLION/ Units)
        1. Packaged
        2. Bulk
        3. On-site
    11. South East Asia
      1. Introduction
      2. Market Size & Forecast By Source 2022-2034 (USD MILLION/ Units)
        1. Non-associated Gas
        2. Associated Gas
        3. Refinery
      3. Market Size & Forecast By Application 2022-2034 (USD MILLION/ Units)
        1. Residential and Commercial
        2. Industrial
        3. Petrochemical and Refinery
        4. Autogas
        5. Others
      4. Market Size & Forecast By Supply Mode 2022-2034 (USD MILLION/ Units)
        1. Packaged
        2. Bulk
        3. On-site
    12. Rest of Asia-Pacific
      1. Introduction
      2. Market Size & Forecast By Source 2022-2034 (USD MILLION/ Units)
        1. Non-associated Gas
        2. Associated Gas
        3. Refinery
      3. Market Size & Forecast By Application 2022-2034 (USD MILLION/ Units)
        1. Residential and Commercial
        2. Industrial
        3. Petrochemical and Refinery
        4. Autogas
        5. Others
      4. Market Size & Forecast By Supply Mode 2022-2034 (USD MILLION/ Units)
        1. Packaged
        2. Bulk
        3. On-site
  10. Middle East and Africa LPG (Liquefied Petroleum Gas) Market Size Analysis
    1. Introduction
    2. LPG (Liquefied Petroleum Gas) Market Market Size & Forecast By Source 2022-2034 (USD MILLION/ Units)
      1. Non-associated Gas
      2. Associated Gas
      3. Refinery
    3. LPG (Liquefied Petroleum Gas) Market Market Size & Forecast By Application 2022-2034 (USD MILLION/ Units)
      1. Residential and Commercial
      2. Industrial
      3. Petrochemical and Refinery
      4. Autogas
      5. Others
    4. LPG (Liquefied Petroleum Gas) Market Market Size & Forecast By Supply Mode 2022-2034 (USD MILLION/ Units)
      1. Packaged
      2. Bulk
      3. On-site
    5. UAE
      1. Introduction
      2. Market Size & Forecast By Source 2022-2034 (USD MILLION/ Units)
        1. Non-associated Gas
        2. Associated Gas
        3. Refinery
      3. Market Size & Forecast By Application 2022-2034 (USD MILLION/ Units)
        1. Residential and Commercial
        2. Industrial
        3. Petrochemical and Refinery
        4. Autogas
        5. Others
      4. Market Size & Forecast By Supply Mode 2022-2034 (USD MILLION/ Units)
        1. Packaged
        2. Bulk
        3. On-site
    6. Turkey
      1. Introduction
      2. Market Size & Forecast By Source 2022-2034 (USD MILLION/ Units)
        1. Non-associated Gas
        2. Associated Gas
        3. Refinery
      3. Market Size & Forecast By Application 2022-2034 (USD MILLION/ Units)
        1. Residential and Commercial
        2. Industrial
        3. Petrochemical and Refinery
        4. Autogas
        5. Others
      4. Market Size & Forecast By Supply Mode 2022-2034 (USD MILLION/ Units)
        1. Packaged
        2. Bulk
        3. On-site
    7. Saudi Arabia
      1. Introduction
      2. Market Size & Forecast By Source 2022-2034 (USD MILLION/ Units)
        1. Non-associated Gas
        2. Associated Gas
        3. Refinery
      3. Market Size & Forecast By Application 2022-2034 (USD MILLION/ Units)
        1. Residential and Commercial
        2. Industrial
        3. Petrochemical and Refinery
        4. Autogas
        5. Others
      4. Market Size & Forecast By Supply Mode 2022-2034 (USD MILLION/ Units)
        1. Packaged
        2. Bulk
        3. On-site
    8. South Africa
      1. Introduction
      2. Market Size & Forecast By Source 2022-2034 (USD MILLION/ Units)
        1. Non-associated Gas
        2. Associated Gas
        3. Refinery
      3. Market Size & Forecast By Application 2022-2034 (USD MILLION/ Units)
        1. Residential and Commercial
        2. Industrial
        3. Petrochemical and Refinery
        4. Autogas
        5. Others
      4. Market Size & Forecast By Supply Mode 2022-2034 (USD MILLION/ Units)
        1. Packaged
        2. Bulk
        3. On-site
    9. Egypt
      1. Introduction
      2. Market Size & Forecast By Source 2022-2034 (USD MILLION/ Units)
        1. Non-associated Gas
        2. Associated Gas
        3. Refinery
      3. Market Size & Forecast By Application 2022-2034 (USD MILLION/ Units)
        1. Residential and Commercial
        2. Industrial
        3. Petrochemical and Refinery
        4. Autogas
        5. Others
      4. Market Size & Forecast By Supply Mode 2022-2034 (USD MILLION/ Units)
        1. Packaged
        2. Bulk
        3. On-site
    10. Nigeria
      1. Introduction
      2. Market Size & Forecast By Source 2022-2034 (USD MILLION/ Units)
        1. Non-associated Gas
        2. Associated Gas
        3. Refinery
      3. Market Size & Forecast By Application 2022-2034 (USD MILLION/ Units)
        1. Residential and Commercial
        2. Industrial
        3. Petrochemical and Refinery
        4. Autogas
        5. Others
      4. Market Size & Forecast By Supply Mode 2022-2034 (USD MILLION/ Units)
        1. Packaged
        2. Bulk
        3. On-site
    11. Rest of MEA
      1. Introduction
      2. Market Size & Forecast By Source 2022-2034 (USD MILLION/ Units)
        1. Non-associated Gas
        2. Associated Gas
        3. Refinery
      3. Market Size & Forecast By Application 2022-2034 (USD MILLION/ Units)
        1. Residential and Commercial
        2. Industrial
        3. Petrochemical and Refinery
        4. Autogas
        5. Others
      4. Market Size & Forecast By Supply Mode 2022-2034 (USD MILLION/ Units)
        1. Packaged
        2. Bulk
        3. On-site
  11. LATAM LPG (Liquefied Petroleum Gas) Market Size Analysis
    1. Introduction
    2. LPG (Liquefied Petroleum Gas) Market Market Size & Forecast By Source 2022-2034 (USD MILLION/ Units)
      1. Non-associated Gas
      2. Associated Gas
      3. Refinery
    3. LPG (Liquefied Petroleum Gas) Market Market Size & Forecast By Application 2022-2034 (USD MILLION/ Units)
      1. Residential and Commercial
      2. Industrial
      3. Petrochemical and Refinery
      4. Autogas
      5. Others
    4. LPG (Liquefied Petroleum Gas) Market Market Size & Forecast By Supply Mode 2022-2034 (USD MILLION/ Units)
      1. Packaged
      2. Bulk
      3. On-site
    5. Brazil
      1. Introduction
      2. Market Size & Forecast By Source 2022-2034 (USD MILLION/ Units)
        1. Non-associated Gas
        2. Associated Gas
        3. Refinery
      3. Market Size & Forecast By Application 2022-2034 (USD MILLION/ Units)
        1. Residential and Commercial
        2. Industrial
        3. Petrochemical and Refinery
        4. Autogas
        5. Others
      4. Market Size & Forecast By Supply Mode 2022-2034 (USD MILLION/ Units)
        1. Packaged
        2. Bulk
        3. On-site
    6. Mexico
      1. Introduction
      2. Market Size & Forecast By Source 2022-2034 (USD MILLION/ Units)
        1. Non-associated Gas
        2. Associated Gas
        3. Refinery
      3. Market Size & Forecast By Application 2022-2034 (USD MILLION/ Units)
        1. Residential and Commercial
        2. Industrial
        3. Petrochemical and Refinery
        4. Autogas
        5. Others
      4. Market Size & Forecast By Supply Mode 2022-2034 (USD MILLION/ Units)
        1. Packaged
        2. Bulk
        3. On-site
    7. Argentina
      1. Introduction
      2. Market Size & Forecast By Source 2022-2034 (USD MILLION/ Units)
        1. Non-associated Gas
        2. Associated Gas
        3. Refinery
      3. Market Size & Forecast By Application 2022-2034 (USD MILLION/ Units)
        1. Residential and Commercial
        2. Industrial
        3. Petrochemical and Refinery
        4. Autogas
        5. Others
      4. Market Size & Forecast By Supply Mode 2022-2034 (USD MILLION/ Units)
        1. Packaged
        2. Bulk
        3. On-site
    8. Chile
      1. Introduction
      2. Market Size & Forecast By Source 2022-2034 (USD MILLION/ Units)
        1. Non-associated Gas
        2. Associated Gas
        3. Refinery
      3. Market Size & Forecast By Application 2022-2034 (USD MILLION/ Units)
        1. Residential and Commercial
        2. Industrial
        3. Petrochemical and Refinery
        4. Autogas
        5. Others
      4. Market Size & Forecast By Supply Mode 2022-2034 (USD MILLION/ Units)
        1. Packaged
        2. Bulk
        3. On-site
    9. Colombia
      1. Introduction
      2. Market Size & Forecast By Source 2022-2034 (USD MILLION/ Units)
        1. Non-associated Gas
        2. Associated Gas
        3. Refinery
      3. Market Size & Forecast By Application 2022-2034 (USD MILLION/ Units)
        1. Residential and Commercial
        2. Industrial
        3. Petrochemical and Refinery
        4. Autogas
        5. Others
      4. Market Size & Forecast By Supply Mode 2022-2034 (USD MILLION/ Units)
        1. Packaged
        2. Bulk
        3. On-site
    10. Rest of LATAM
      1. Introduction
      2. Market Size & Forecast By Source 2022-2034 (USD MILLION/ Units)
        1. Non-associated Gas
        2. Associated Gas
        3. Refinery
      3. Market Size & Forecast By Application 2022-2034 (USD MILLION/ Units)
        1. Residential and Commercial
        2. Industrial
        3. Petrochemical and Refinery
        4. Autogas
        5. Others
      4. Market Size & Forecast By Supply Mode 2022-2034 (USD MILLION/ Units)
        1. Packaged
        2. Bulk
        3. On-site
  12. Competitive Landscape
    1. LPG (Liquefied Petroleum Gas) Market Share By Players
    2. M&A Agreements & Collaboration Analysis
    3. Tier Structure Analysis
    4. Recent Developments
  13. Market Players Assessment
    1. Saudi Arabian Oil Co. (Saudi Arabia)
      1. Overview
      2. Business Information
      3. Revenue
      4. ASP
      5. SWOT Analysis
      6. Recent Developments
    2. Shell plc (UK)
    3. Exxon Mobil Corporation (USA)
    4. BP plc (UK)
    5. Chevron Corporation (USA)
    6. TotalEnergies SE (France)
    7. China Gas Holdings Ltd. (China)
    8. UGI Corporation (USA)
    9. Bharat Petroleum Corporation Limited (India)
    10. Repsol S.A. (Spain)
    11. Phillips 66 (USA)
    12. SHV Energy (Netherlands)
    13. Origin Energy Limited (Australia)
    14. Kleenheat (Australia)
    15. Copagaz (Brazil)
  14. Research Methodology
    1. Research Data
      1. Secondary Data
        1. Major Secondary Sources
        2. Key Data from Secondary Sources
      2. Primary Data
        1. Key Data from Primary Sources
        2. Breakdown of Primaries
      3. Secondary And Primary Research
        1. Key Industry Insights
    2. Market Size Estimation
      1. Bottom-Up Approach
      2. Top-Down Approach
      3. Market Projection
    3. Research Assumptions
      1. Assumptions
    4. Limitations
    5. Risk Assessment
  15. Appendix
    1. Discussion Guide
    2. Customization Options
    3. Related Reports

  16. Disclaimer

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