APO RESEARCH · REPORT
Coal Tar
Coal Tar (CAS 8007-45-2) is derived from coal. It is a byproduct of the production of coke, a solid fuel that contains mostly carbon, and coal gas. Coal tar is used primarily for the production of refined chemicals and coal-tar products, such as creosote and coal-tar pitch.
Product & engineering
Understand the product.
Coal Tar (CAS 8007-45-2) is derived from coal. It is a byproduct of the production of coke, a solid fuel that contains mostly carbon, and coal gas. Coal tar is used primarily for the production of refined chemicals and coal-tar products, such as creosote and coal-tar pitch.
Selected research
Market Analysis & Forecast
Global Coal Tar Market Analysis and Forecast 2026-2032
Market perspective
Coal Tar (CAS 8007-45-2) is derived from coal. It is a byproduct of the production of coke, a solid fuel that contains mostly carbon, and coal gas. Coal tar is used primarily for the production of refined chemicals and coal-tar products, such as creosote and coal-tar pitch.
Global Coal Tar (CAS 8007-45-2) key players include Baowu Steel Group, Rain Industries Limited, JFE Chemical, OCI, etc. Global top four manufacturers hold a share nearly 15%.
China is the largest market, with a share about 70%, followed by Europe, and Japan, both have a share about 15 percent.
Read the full market overview
In terms of product, High Temperature Coal Tar is the largest segment, with a share about 75%. And in terms of application, the largest application is Carbon Black, followed by Pitch, Wash Oil, etc.
This report presents an overview of global market for Coal Tar, capacity, output, revenue and price. Analyses of the global market trends, with historic market revenue or sales data for 2021 - 2025, estimates for 2026, and projections of CAGR through 2032.
This report researches the key producers of Coal Tar, also provides the consumption of main regions and countries. Of the upcoming market potential for Coal Tar, and key regions or countries of focus to forecast this market into various segments and sub-segments. Country specific data and market value analysis for the U.S., Canada, Mexico, Brazil, China, Japan, South Korea, Southeast Asia, India, Germany, the U.K., Italy, Middle East, Africa, and Other Countries.
This report focuses on the Coal Tar sales, revenue, market share and industry ranking of main manufacturers, data from 2021 to 2026. Identification of the major stakeholders in the global Coal Tar market, and analysis of their competitive landscape and market positioning based on recent developments and segmental revenues. This report will help stakeholders to understand the competitive landscape and gain more insights and position their businesses and market strategies in a better way.
This report analyzes the segments data by Type and by Application, sales, revenue, and price, from 2021 to 2032. Evaluation and forecast the market size for Coal Tar sales, projected growth trends, production technology, application and end-user industry.
Coal Tar Segment by Company
Baowu Steel Group
Rain Industries Limited
JFE Chemical
OCI
Koppers
Baoshun
Huanghua Xinnuo Lixing
Shanxi Coal and Chemical
POSCO
Sunlight Coking
Himadri Chemicals & Industries
Nippon Steel & Sumitomo Metal
Mitsubishi Chemical
Jiangxi Black Cat
Ansteel
Coal Tar Segment by Type
High Temperature Coal Tar
Medium Temperature Coal Tar
Low Temperature Coal Tar
Coal Tar Segment by Application
Carbon Black
Pitch
Wash Oil
Others
Coal Tar Segment by Region
North America
United States
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Spain
Netherlands
Switzerland
Sweden
Poland
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Southeast Asia
South America
Brazil
Argentina
Chile
Colombia
Middle East & Africa
Egypt
South Africa
Israel
Türkiye
GCC Countries
Study Objectives
1. To analyze and research the global status and future forecast, involving, production, value, consumption, growth rate (CAGR), market share, historical and forecast.
2. To present the key manufacturers, capacity, production, revenue, market share, and Recent Developments.
3. To split the breakdown data by regions, type, manufacturers, and Application.
4. To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints, and risks.
5. To identify significant trends, drivers, influence factors in global and regions.
6. To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
Reasons to Buy This Report
1. This report will help the readers to understand the competition within the industries and strategies for the competitive environment to enhance the potential profit. The report also focuses on the competitive landscape of the global Coal Tar market, and introduces in detail the market share, industry ranking, competitor ecosystem, market performance, new product development, operation situation, expansion, and acquisition. etc. of the main players, which helps the readers to identify the main competitors and deeply understand the competition pattern of the market.
2. This report will help stakeholders to understand the global industry status and trends of Coal Tar and provides them with information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to understand competitors better and gain more insights to strengthen their position in their businesses. The competitive landscape section includes the market share and rank (in volume and value), competitor ecosystem, new product development, expansion, and acquisition.
4. This report stays updated with novel technology integration, features, and the latest developments in the market.
5. This report helps stakeholders to gain insights into which regions to target globally.
6. This report helps stakeholders to gain insights into the end-user perception concerning the adoption of Coal Tar.
7. This report helps stakeholders to identify some of the key players in the market and understand their valuable contribution.
Chapter Outline
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by type and by application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 3: Coal Tar production/output of global and key producers (regions/countries). It provides a quantitative analysis of the production, and development potential of each producer in the next six years.
Chapter 4: Sales (consumption), revenue of Coal Tar in global, regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 5: Detailed analysis of Coal Tar manufacturers competitive landscape, price, sales, revenue, market share and industry ranking, latest development plan, merger, and acquisition information, etc.
Chapter 6: Provides the analysis of various market segments by type, covering the sales, revenue, average price, and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 7: Provides the analysis of various market segments by application, covering the sales, revenue, average price, and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 8: Provides profiles of key manufacturers, introducing the basic situation of the main companies in the market in detail, including product descriptions and specifications, Coal Tar sales, revenue, price, gross margin, and recent development, etc.
Chapter 9: North America by type, by application and by country, sales, and revenue for each segment.
Chapter 10: Europe by type, by application and by country, sales, and revenue for each segment.
Chapter 11: China by type, by application, sales, and revenue for each segment.
Chapter 12: Asia (Excluding China) by type, by application and by region, sales, and revenue for each segment.
Chapter 13: South America, Middle East and Africa by type, by application and by country, sales, and revenue for each segment.
Chapter 14: Analysis of industrial chain, sales channel, key raw materials, distributors and customers.
Chapter 15: The main concluding insights of the report.
More report detail
Tables and figures
Scope & coverage.
Types
- High Temperature Coal Tar
- Medium Temperature Coal Tar
- Low Temperature Coal Tar
Applications
- Carbon Black
- Pitch
- Wash Oil
- Others
Companies covered
- Baowu Steel Group
- Rain Industries Limited
- JFE Chemical
- OCI
- Koppers
- Baoshun
- Huanghua Xinnuo Lixing
- Shanxi Coal and Chemical
- POSCO
- Sunlight Coking
- Himadri Chemicals & Industries
- Nippon Steel & Sumitomo Metal
- Mitsubishi Chemical
- Jiangxi Black Cat
- Ansteel
Inside the report.
1 Market Overview
- 1.1 Product Definition
- 1.2 Coal Tar Market by Type
- 1.2.1 Global Coal Tar Market Size by Type, 2021 VS 2025 VS 2032
- 1.2.2 High Temperature Coal Tar
- 1.2.3 Medium Temperature Coal Tar
- 1.2.4 Low Temperature Coal Tar
- 1.3 Coal Tar Market by Application
- 1.3.1 Global Coal Tar Market Size by Application, 2021 VS 2025 VS 2032
- 1.3.2 Carbon Black
- 1.3.3 Pitch
- 1.3.4 Wash Oil
- 1.3.5 Others
- 1.4 Assumptions and Limitations
- 1.5 Study Goals and Objectives
2 Coal Tar Market Dynamics
- 2.1 Coal Tar Industry Trends
- 2.2 Coal Tar Industry Drivers
- 2.3 Coal Tar Industry Opportunities and Challenges
- 2.4 Coal Tar Industry Restraints
3 Global Coal Tar Production Overview
- 3.1 Global Coal Tar Production Capacity (2021-2032)
- 3.2 Global Coal Tar Production by Region: 2021 VS 2025 VS 2032
- 3.3 Global Coal Tar Production by Region
- 3.3.1 Global Coal Tar Production by Region (2021-2026)
- 3.3.2 Global Coal Tar Production by Region (2027-2032)
- 3.3.3 Global Coal Tar Production Market Share by Region (2021-2032)
- 3.4 North America
- 3.5 Europe
- 3.6 China
- 3.7 Japan
4 Global Market Growth Prospects
- 4.1 Global Coal Tar Revenue Estimates and Forecasts (2021-2032)
- 4.2 Global Coal Tar Revenue by Region
- 4.2.1 Global Coal Tar Revenue by Region: 2021 VS 2025 VS 2032
- 4.2.2 Global Coal Tar Revenue by Region (2021-2026)
- 4.2.3 Global Coal Tar Revenue by Region (2027-2032)
- 4.2.4 Global Coal Tar Revenue Market Share by Region (2021-2032)
- 4.3 Global Coal Tar Sales Estimates and Forecasts 2021-2032
- 4.4 Global Coal Tar Sales by Region
- 4.4.1 Global Coal Tar Sales by Region: 2021 VS 2025 VS 2032
- 4.4.2 Global Coal Tar Sales by Region (2021-2026)
- 4.4.3 Global Coal Tar Sales by Region (2027-2032)
- 4.4.4 Global Coal Tar Sales Market Share by Region (2021-2032)
- 4.5 North America
- 4.6 Europe
- 4.7 China
- 4.8 Asia (Excluding China)
- 4.9 South America, Middle East and Africa
5 Market Competitive Landscape by Manufacturers
- 5.1 Global Coal Tar Revenue by Manufacturers
- 5.1.1 Global Coal Tar Revenue by Manufacturers (2021-2026)
- 5.1.2 Global Coal Tar Revenue Market Share by Manufacturers (2021-2026)
- 5.1.3 Global Coal Tar Manufacturers Revenue Share Top 10 and Top 5 in 2025
- 5.2 Global Coal Tar Sales by Manufacturers
- 5.2.1 Global Coal Tar Sales by Manufacturers (2021-2026)
- 5.2.2 Global Coal Tar Sales Market Share by Manufacturers (2021-2026)
- 5.2.3 Global Coal Tar Manufacturers Sales Share Top 10 and Top 5 in 2025
- 5.3 Global Coal Tar Sales Price by Manufacturers (2021-2026)
- 5.4 Global Coal Tar Key Manufacturers Ranking, 2024 VS 2025 VS 2026
- 5.5 Global Coal Tar Key Manufacturers Manufacturing Sites & Headquarters
- 5.6 Global Coal Tar Manufacturers, Product Type & Application
- 5.7 Global Coal Tar Manufacturers Commercialization Time
- 5.8 Market Competitive Analysis
- 5.8.1 Global Coal Tar Market CR5 and HHI
- 5.8.2 2025 Coal Tar Tier 1, Tier 2, and Tier 3
6 Coal Tar Market by Type
- 6.1 Global Coal Tar Revenue by Type
- 6.1.1 Global Coal Tar Revenue by Type (2021-2032) & (US$ Million)
- 6.1.2 Global Coal Tar Revenue Market Share by Type (2021-2032)
- 6.2 Global Coal Tar Sales by Type
- 6.2.1 Global Coal Tar Sales by Type (2021-2032) & (K MT)
- 6.2.2 Global Coal Tar Sales Market Share by Type (2021-2032)
- 6.3 Global Coal Tar Price by Type
7 Coal Tar Market by Application
- 7.1 Global Coal Tar Revenue by Application
- 7.1.1 Global Coal Tar Revenue by Application (2021-2032) & (US$ Million)
- 7.1.2 Global Coal Tar Revenue Market Share by Application (2021-2032)
- 7.2 Global Coal Tar Sales by Application
- 7.2.1 Global Coal Tar Sales by Application (2021-2032) & (K MT)
- 7.2.2 Global Coal Tar Sales Market Share by Application (2021-2032)
- 7.3 Global Coal Tar Price by Application
8 Company Profiles
- 8.1 Baowu Steel Group
- 8.1.1 Baowu Steel Group Company Information
- 8.1.2 Baowu Steel Group Business Overview
- 8.1.3 Baowu Steel Group Coal Tar Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.1.4 Baowu Steel Group Coal Tar Product Portfolio
- 8.1.5 Baowu Steel Group Recent Developments
- 8.2 Rain Industries Limited
- 8.2.1 Rain Industries Limited Company Information
- 8.2.2 Rain Industries Limited Business Overview
- 8.2.3 Rain Industries Limited Coal Tar Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.2.4 Rain Industries Limited Coal Tar Product Portfolio
- 8.2.5 Rain Industries Limited Recent Developments
- 8.3 JFE Chemical
- 8.3.1 JFE Chemical Company Information
- 8.3.2 JFE Chemical Business Overview
- 8.3.3 JFE Chemical Coal Tar Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.3.4 JFE Chemical Coal Tar Product Portfolio
- 8.3.5 JFE Chemical Recent Developments
- 8.4 OCI
- 8.4.1 OCI Company Information
- 8.4.2 OCI Business Overview
- 8.4.3 OCI Coal Tar Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.4.4 OCI Coal Tar Product Portfolio
- 8.4.5 OCI Recent Developments
- 8.5 Koppers
- 8.5.1 Koppers Company Information
- 8.5.2 Koppers Business Overview
- 8.5.3 Koppers Coal Tar Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.5.4 Koppers Coal Tar Product Portfolio
- 8.5.5 Koppers Recent Developments
- 8.6 Baoshun
- 8.6.1 Baoshun Company Information
- 8.6.2 Baoshun Business Overview
- 8.6.3 Baoshun Coal Tar Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.6.4 Baoshun Coal Tar Product Portfolio
- 8.6.5 Baoshun Recent Developments
- 8.7 Huanghua Xinnuo Lixing
- 8.7.1 Huanghua Xinnuo Lixing Company Information
- 8.7.2 Huanghua Xinnuo Lixing Business Overview
- 8.7.3 Huanghua Xinnuo Lixing Coal Tar Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.7.4 Huanghua Xinnuo Lixing Coal Tar Product Portfolio
- 8.7.5 Huanghua Xinnuo Lixing Recent Developments
- 8.8 Shanxi Coal and Chemical
- 8.8.1 Shanxi Coal and Chemical Company Information
- 8.8.2 Shanxi Coal and Chemical Business Overview
- 8.8.3 Shanxi Coal and Chemical Coal Tar Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.8.4 Shanxi Coal and Chemical Coal Tar Product Portfolio
- 8.8.5 Shanxi Coal and Chemical Recent Developments
- 8.9 POSCO
- 8.9.1 POSCO Company Information
- 8.9.2 POSCO Business Overview
- 8.9.3 POSCO Coal Tar Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.9.4 POSCO Coal Tar Product Portfolio
- 8.9.5 POSCO Recent Developments
- 8.10 Sunlight Coking
- 8.10.1 Sunlight Coking Company Information
- 8.10.2 Sunlight Coking Business Overview
- 8.10.3 Sunlight Coking Coal Tar Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.10.4 Sunlight Coking Coal Tar Product Portfolio
- 8.10.5 Sunlight Coking Recent Developments
- 8.11 Himadri Chemicals & Industries
- 8.11.1 Himadri Chemicals & Industries Company Information
- 8.11.2 Himadri Chemicals & Industries Business Overview
- 8.11.3 Himadri Chemicals & Industries Coal Tar Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.11.4 Himadri Chemicals & Industries Coal Tar Product Portfolio
- 8.11.5 Himadri Chemicals & Industries Recent Developments
- 8.12 Nippon Steel & Sumitomo Metal
- 8.12.1 Nippon Steel & Sumitomo Metal Company Information
- 8.12.2 Nippon Steel & Sumitomo Metal Business Overview
- 8.12.3 Nippon Steel & Sumitomo Metal Coal Tar Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.12.4 Nippon Steel & Sumitomo Metal Coal Tar Product Portfolio
- 8.12.5 Nippon Steel & Sumitomo Metal Recent Developments
- 8.13 Mitsubishi Chemical
- 8.13.1 Mitsubishi Chemical Company Information
- 8.13.2 Mitsubishi Chemical Business Overview
- 8.13.3 Mitsubishi Chemical Coal Tar Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.13.4 Mitsubishi Chemical Coal Tar Product Portfolio
- 8.13.5 Mitsubishi Chemical Recent Developments
- 8.14 Jiangxi Black Cat
- 8.14.1 Jiangxi Black Cat Company Information
- 8.14.2 Jiangxi Black Cat Business Overview
- 8.14.3 Jiangxi Black Cat Coal Tar Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.14.4 Jiangxi Black Cat Coal Tar Product Portfolio
- 8.14.5 Jiangxi Black Cat Recent Developments
- 8.15 Ansteel
- 8.15.1 Ansteel Company Information
- 8.15.2 Ansteel Business Overview
- 8.15.3 Ansteel Coal Tar Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.15.4 Ansteel Coal Tar Product Portfolio
- 8.15.5 Ansteel Recent Developments
9 North America
- 9.1 North America Coal Tar Market Size by Type
- 9.1.1 North America Coal Tar Revenue by Type (2021-2032)
- 9.1.2 North America Coal Tar Sales by Type (2021-2032)
- 9.1.3 North America Coal Tar Price by Type (2021-2032)
- 9.2 North America Coal Tar Market Size by Application
- 9.2.1 North America Coal Tar Revenue by Application (2021-2032)
- 9.2.2 North America Coal Tar Sales by Application (2021-2032)
- 9.2.3 North America Coal Tar Price by Application (2021-2032)
- 9.3 North America Coal Tar Market Size by Country
- 9.3.1 North America Coal Tar Revenue Grow Rate by Country (2021 VS 2025 VS 2032)
- 9.3.2 North America Coal Tar Sales by Country (2021 VS 2025 VS 2032)
- 9.3.3 North America Coal Tar Price by Country (2021-2032)
- 9.3.4 United States
- 9.3.5 Canada
- 9.3.6 Mexico
10 Europe
- 10.1 Europe Coal Tar Market Size by Type
- 10.1.1 Europe Coal Tar Revenue by Type (2021-2032)
- 10.1.2 Europe Coal Tar Sales by Type (2021-2032)
- 10.1.3 Europe Coal Tar Price by Type (2021-2032)
- 10.2 Europe Coal Tar Market Size by Application
- 10.2.1 Europe Coal Tar Revenue by Application (2021-2032)
- 10.2.2 Europe Coal Tar Sales by Application (2021-2032)
- 10.2.3 Europe Coal Tar Price by Application (2021-2032)
- 10.3 Europe Coal Tar Market Size by Country
- 10.3.1 Europe Coal Tar Revenue Grow Rate by Country (2021 VS 2025 VS 2032)
- 10.3.2 Europe Coal Tar Sales by Country (2021 VS 2025 VS 2032)
- 10.3.3 Europe Coal Tar Price by Country (2021-2032)
- 10.3.4 Germany
- 10.3.5 France
- 10.3.6 U.K.
- 10.3.7 Italy
- 10.3.8 Russia
- 10.3.9 Spain
- 10.3.10 Netherlands
- 10.3.11 Switzerland
- 10.3.12 Sweden
11 China
- 11.1 China Coal Tar Market Size by Type
- 11.1.1 China Coal Tar Revenue by Type (2021-2032)
- 11.1.2 China Coal Tar Sales by Type (2021-2032)
- 11.1.3 China Coal Tar Price by Type (2021-2032)
- 11.2 China Coal Tar Market Size by Application
- 11.2.1 China Coal Tar Revenue by Application (2021-2032)
- 11.2.2 China Coal Tar Sales by Application (2021-2032)
- 11.2.3 China Coal Tar Price by Application (2021-2032)
12 Asia (Excluding China)
- 12.1 Asia Coal Tar Market Size by Type
- 12.1.1 Asia Coal Tar Revenue by Type (2021-2032)
- 12.1.2 Asia Coal Tar Sales by Type (2021-2032)
- 12.1.3 Asia Coal Tar Price by Type (2021-2032)
- 12.2 Asia Coal Tar Market Size by Application
- 12.2.1 Asia Coal Tar Revenue by Application (2021-2032)
- 12.2.2 Asia Coal Tar Sales by Application (2021-2032)
- 12.2.3 Asia Coal Tar Price by Application (2021-2032)
- 12.3 Asia Coal Tar Market Size by Country
- 12.3.1 Asia Coal Tar Revenue Grow Rate by Country (2021 VS 2025 VS 2032)
- 12.3.2 Asia Coal Tar Sales by Country (2021 VS 2025 VS 2032)
- 12.3.3 Asia Coal Tar Price by Country (2021-2032)
- 12.3.4 Japan
- 12.3.5 South Korea
- 12.3.6 India
- 12.3.7 Australia
- 12.3.8 Taiwan
- 12.3.9 Southeast Asia
13 South America, Middle East and Africa
- 13.1 SAMEA Coal Tar Market Size by Type
- 13.1.1 SAMEA Coal Tar Revenue by Type (2021-2032)
- 13.1.2 SAMEA Coal Tar Sales by Type (2021-2032)
- 13.1.3 SAMEA Coal Tar Price by Type (2021-2032)
- 13.2 SAMEA Coal Tar Market Size by Application
- 13.2.1 SAMEA Coal Tar Revenue by Application (2021-2032)
- 13.2.2 SAMEA Coal Tar Sales by Application (2021-2032)
- 13.2.3 SAMEA Coal Tar Price by Application (2021-2032)
- 13.3 SAMEA Coal Tar Market Size by Country
- 13.3.1 SAMEA Coal Tar Revenue Grow Rate by Country (2021 VS 2025 VS 2032)
- 13.3.2 SAMEA Coal Tar Sales by Country (2021 VS 2025 VS 2032)
- 13.3.3 SAMEA Coal Tar Price by Country (2021-2032)
- 13.3.4 Brazil
- 13.3.5 Argentina
- 13.3.6 Chile
- 13.3.7 Colombia
- 13.3.8 Peru
- 13.3.9 Saudi Arabia
- 13.3.10 Israel
- 13.3.11 UAE
- 13.3.12 Turkey
- 13.3.13 Iran
- 13.3.14 Egypt
14 Value Chain and Sales Channels Analysis
- 14.1 Coal Tar Value Chain Analysis
- 14.1.1 Coal Tar Key Raw Materials
- 14.1.2 Raw Materials Key Suppliers
- 14.1.3 Manufacturing Cost Structure
- 14.1.4 Coal Tar Production Mode & Process
- 14.2 Coal Tar Sales Channels Analysis
- 14.2.1 Direct Comparison with Distribution Share
- 14.2.2 Coal Tar Distributors
- 14.2.3 Coal Tar Customers
15 Concluding Insights
16 Appendix
- 16.1 Reasons for Doing This Study
- 16.2 Research Methodology
- 16.3 Research Process
- 16.4 Authors List of This Report
- 16.5 Data Source
- 16.5.1 Secondary Sources
- 16.5.2 Primary Sources
- 16.6 Disclaimer
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