APO Research

APO RESEARCH · REPORT

Silver Powders and Flakes

Silver powders and flakes are white powders with metal luster, and are face-centered cubic structure. They are excellent conductors of heat and electricity. Silver powders and flakes are inert for most acid, but could be quickly dissolved in dilute nitric acid and hot concentrated sulfuric acid. Silver powders and flakes are mainly used in the manufacture of conductive paste, conductive coatings, conductive adhesives, etc. The Silver Powders and Flakes market covers Silver Powders, Silver Flakes, etc. The typical players include Ames Goldsmith, DOWA Hightech, Metalor, DuPont, Johnson Matthey, Mitsui Kinzoku, Technic, Fukuda, etc.

Product & engineering

Understand the product.

Silver powders and flakes are white powders with metal luster, and are face-centered cubic structure. They are excellent conductors of heat and electricity. Silver powders and flakes are inert for most acid, but could be quickly dissolved in dilute nitric acid and hot concentrated sulfuric acid. Silver powders and flakes are mainly used in the manufacture of conductive paste, conductive coatings, conductive adhesives, etc. The Silver Powders and Flakes market covers Silver Powders, Silver Flakes, etc. The typical players include Ames Goldsmith, DOWA Hightech, Metalor, DuPont, Johnson Matthey, Mitsui Kinzoku, Technic, Fukuda, etc.

Selected research

Industry Research

Silver Powders and Flakes Industry Research Report 2026

Market perspective

Silver powders and flakes are white powders with metal luster, and are face-centered cubic structure. They are excellent conductors of heat and electricity. Silver powders and flakes are inert for most acid, but could be quickly dissolved in dilute nitric acid and hot concentrated sulfuric acid. Silver powders and flakes are mainly used in the manufacture of conductive paste, conductive coatings, conductive adhesives, etc. The Silver Powders and Flakes market covers Silver Powders, Silver Flakes, etc. The typical players include Ames Goldsmith, DOWA Hightech, Metalor, DuPont, Johnson Matthey, Mitsui Kinzoku, Technic, Fukuda, etc.

Global Silver Powders and Flakes key players include Ames Goldsmith, DOWA Hightech, DuPont, Johnson Matthey, Mitsui Kinzoku, etc. Global top five manufacturers hold a share about 77%. Asia-Pacific is the largest market, with a share about 77%, followed by America and Europe, both have a share over 21 percent. In terms of product, Silver Powders is the largest segment, with a share over 87%. And in terms of application, the largest application is Photovoltaic, followed by Electronics, etc.

Report Scope

Read the full market overview

This report quantifies the global Silver Powders and Flakes market in revenue (US$ million) and, where applicable, sales volume (MT), using 2025 as the base year and providing annual historical and forecast data for 2021–2032.

It standardizes definitions of types and applications, harmonizes vendor attribution, and presents comparable time series by company, type, application, and region/country, including indicative price bands (US$/MT) and concentration ratios (CR5/CR10).

The outputs are intended to support strategy development, budgeting, and performance benchmarking for manufacturers, new entrants, channel partners, and investors; the report also reviews technology shifts and notable product introductions relevant to Silver Powders and Flakes.

Key Companies & Market Share Insights

This section profiles leading manufacturers, combining 2021–2025 results with a 2026–2032 outlook. It reports revenue, market share, price bands, product and application mix, regional and channel mix, and key developments (M&A, capacity additions, certifications). It also provides global revenue, average price, and—where applicable—sales volume by manufacturer, and calculates CR5/CR10 and rank changes to support comparative benchmarking.

Silver Powders and Flakes Market by Company

Ames Goldsmith

DOWA Hightech

DuPont

Johnson Matthey

Mitsui Kinzoku

Technic

Fukuda

Shoei Chemical

AG PRO Technology

MEPCO

Cermet

Yamamoto Precious Metal

TANAKA

Shin Nihon Kakin

Tokuriki Honten

Tongling Nonferrous Metals Group Holding

CNMC Ningxia Orient Group

Ningbo Jingxin Electronic Material

Kunming Noble Metal Electronic Materials

Nonfemet

RightSilver

Changgui Metal Powder

Yunnan Copper Science & Technology

Silver Powders and Flakes Segment by Type

Silver Powders

Silver Flakes

Silver Powders and Flakes Segment by Application

Photovoltaic

Electronics

Others

Silver Powders and Flakes 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

Middle East & Africa

Egypt

South Africa

Israel

Türkiye

GCC Countries

Key Drivers & Barriers

High-impact rendering factors and drivers have been studied in this report to aid the readers to understand the general development. Moreover, the report includes restraints and challenges that may act as stumbling blocks on the way of the players. This will assist the users to be attentive and make informed decisions related to business. Specialists have also laid their focus on the upcoming business prospects.

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 Silver Powders and Flakes 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 Silver Powders and Flakes 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 Silver Powders and Flakes.

7. This report helps stakeholders to identify some of the key players in the market and understand their valuable contribution.

Chapter Outline

Chapter 1: Research objectives, research methods, data sources, data cross-validation;

Chapter 2: Introduces the report scope of the report, executive summary of different market segments (by region, product type, 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 3: Detailed analysis of Silver Powders and Flakes manufacturers competitive landscape, price, production and value market share, latest development plan, merger, and acquisition information, etc.

Chapter 4: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product production/output, value, price, gross margin, product introduction, recent development, etc.

Chapter 5: Production/output, value of Silver Powders and Flakes by region/country. It provides a quantitative analysis of the market size and development potential of each region in the next six years.

Chapter 6: Consumption of Silver Powders and Flakes in 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, and production of each country in the world.

Chapter 7: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.

Chapter 8: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.

Chapter 9: Analysis of industrial chain, including the upstream and downstream of the industry.

Chapter 10: 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 11: The main points and conclusions of the report.

More report detail

Tables and figures
List of Tables Table 1. Secondary Sources Table 2. Primary Sources Table 3. Market Value Comparison by Type (2021 VS 2025 VS 2032) & (US$ Million) Table 4. Market Value Comparison by Application (2021 VS 2025 VS 2032) & (US$ Million) Table 5. Global Silver Powders and Flakes Production by Manufacturers (MT) & (2021-2026) Table 6. Global Silver Powders and Flakes Production Market Share by Manufacturers Table 7. Global Silver Powders and Flakes Production Value by Manufacturers (US$ Million) & (2021-2026) Table 8. Global Silver Powders and Flakes Production Value Market Share by Manufacturers (2021-2026) Table 9. Global Silver Powders and Flakes Average Price (USD/Kg) of Manufacturers (2021-2026) Table 10. Global Silver Powders and Flakes Industry Manufacturers Ranking, 2024 VS 2025 VS 2026 Table 11. Global Silver Powders and Flakes Key Manufacturers, Manufacturing Sites & Headquarters Table 12. Global Silver Powders and Flakes Manufacturers, Product Type & Application Table 13. Global Silver Powders and Flakes Manufacturers Established Date Table 14. Global Manufacturers Market Concentration Ratio (CR5 and HHI) Table 15. Global Silver Powders and Flakes by Manufacturers Type (Tier 1, Tier 2, and Tier 3) & (based on the Production Value of 2025) Table 16. Manufacturers Mergers & Acquisitions, Expansion Plans Table 17. Ames Goldsmith Company Information Table 18. Ames Goldsmith Business Overview Table 19. Ames Goldsmith Silver Powders and Flakes Production (MT), Value (US$ Million), Price (USD/Kg) and Gross Margin (2021-2026) Table 20. Ames Goldsmith Silver Powders and Flakes Product Portfolio Table 21. Ames Goldsmith Recent Development Table 22. DOWA Hightech Company Information Table 23. DOWA Hightech Business Overview Table 24. DOWA Hightech Silver Powders and Flakes Production (MT), Value (US$ Million), Price (USD/Kg) and Gross Margin (2021-2026) Table 25. DOWA Hightech Silver Powders and Flakes Product Portfolio Table 26. DOWA Hightech Recent Development Table 27. DuPont Company Information Table 28. DuPont Business Overview Table 29. DuPont Silver Powders and Flakes Production (MT), Value (US$ Million), Price (USD/Kg) and Gross Margin (2021-2026) Table 30. DuPont Silver Powders and Flakes Product Portfolio Table 31. DuPont Recent Development Table 32. Johnson Matthey Company Information Table 33. Johnson Matthey Business Overview Table 34. Johnson Matthey Silver Powders and Flakes Production (MT), Value (US$ Million), Price (USD/Kg) and Gross Margin (2021-2026) Table 35. Johnson Matthey Silver Powders and Flakes Product Portfolio Table 36. Johnson Matthey Recent Development Table 37. Mitsui Kinzoku Company Information Table 38. Mitsui Kinzoku Business Overview Table 39. Mitsui Kinzoku Silver Powders and Flakes Production (MT), Value (US$ Million), Price (USD/Kg) and Gross Margin (2021-2026) Table 40. Mitsui Kinzoku Silver Powders and Flakes Product Portfolio Table 41. Mitsui Kinzoku Recent Development Table 42. Technic Company Information Table 43. Technic Business Overview Table 44. Technic Silver Powders and Flakes Production (MT), Value (US$ Million), Price (USD/Kg) and Gross Margin (2021-2026) Table 45. Technic Silver Powders and Flakes Product Portfolio Table 46. Technic Recent Development Table 47. Fukuda Company Information Table 48. Fukuda Business Overview Table 49. Fukuda Silver Powders and Flakes Production (MT), Value (US$ Million), Price (USD/Kg) and Gross Margin (2021-2026) Table 50. Fukuda Silver Powders and Flakes Product Portfolio Table 51. Fukuda Recent Development Table 52. Shoei Chemical Company Information Table 53. Shoei Chemical Business Overview Table 54. Shoei Chemical Silver Powders and Flakes Production (MT), Value (US$ Million), Price (USD/Kg) and Gross Margin (2021-2026) Table 55. Shoei Chemical Silver Powders and Flakes Product Portfolio Table 56. Shoei Chemical Recent Development Table 57. AG PRO Technology Company Information Table 58. AG PRO Technology Business Overview Table 59. AG PRO Technology Silver Powders and Flakes Production (MT), Value (US$ Million), Price (USD/Kg) and Gross Margin (2021-2026) Table 60. AG PRO Technology Silver Powders and Flakes Product Portfolio Table 61. AG PRO Technology Recent Development Table 62. MEPCO Company Information Table 63. MEPCO Business Overview Table 64. MEPCO Silver Powders and Flakes Production (MT), Value (US$ Million), Price (USD/Kg) and Gross Margin (2021-2026) Table 65. MEPCO Silver Powders and Flakes Product Portfolio Table 66. MEPCO Recent Development Table 67. Cermet Company Information Table 68. Cermet Business Overview Table 69. Cermet Silver Powders and Flakes Production (MT), Value (US$ Million), Price (USD/Kg) and Gross Margin (2021-2026) Table 70. Cermet Silver Powders and Flakes Product Portfolio Table 71. Cermet Recent Development Table 72. Yamamoto Precious Metal Company Information Table 73. Yamamoto Precious Metal Business Overview Table 74. Yamamoto Precious Metal Silver Powders and Flakes Production (MT), Value (US$ Million), Price (USD/Kg) and Gross Margin (2021-2026) Table 75. Yamamoto Precious Metal Silver Powders and Flakes Product Portfolio Table 76. Yamamoto Precious Metal Recent Development Table 77. TANAKA Company Information Table 78. TANAKA Business Overview Table 79. TANAKA Silver Powders and Flakes Production (MT), Value (US$ Million), Price (USD/Kg) and Gross Margin (2021-2026) Table 80. TANAKA Silver Powders and Flakes Product Portfolio Table 81. TANAKA Recent Development Table 82. Shin Nihon Kakin Company Information Table 83. Shin Nihon Kakin Business Overview Table 84. Shin Nihon Kakin Silver Powders and Flakes Production (MT), Value (US$ Million), Price (USD/Kg) and Gross Margin (2021-2026) Table 85. Shin Nihon Kakin Silver Powders and Flakes Product Portfolio Table 86. Shin Nihon Kakin Recent Development Table 87. Tokuriki Honten Company Information Table 88. Tokuriki Honten Business Overview Table 89. Tokuriki Honten Silver Powders and Flakes Production (MT), Value (US$ Million), Price (USD/Kg) and Gross Margin (2021-2026) Table 90. Tokuriki Honten Silver Powders and Flakes Product Portfolio Table 91. Tokuriki Honten Recent Development Table 92. Tongling Nonferrous Metals Group Holding Company Information Table 93. Tongling Nonferrous Metals Group Holding Business Overview Table 94. Tongling Nonferrous Metals Group Holding Silver Powders and Flakes Production (MT), Value (US$ Million), Price (USD/Kg) and Gross Margin (2021-2026) Table 95. Tongling Nonferrous Metals Group Holding Silver Powders and Flakes Product Portfolio Table 96. Tongling Nonferrous Metals Group Holding Recent Development Table 97. CNMC Ningxia Orient Group Company Information Table 98. CNMC Ningxia Orient Group Business Overview Table 99. CNMC Ningxia Orient Group Silver Powders and Flakes Production (MT), Value (US$ Million), Price (USD/Kg) and Gross Margin (2021-2026) Table 100. CNMC Ningxia Orient Group Silver Powders and Flakes Product Portfolio Table 101. CNMC Ningxia Orient Group Recent Development Table 102. Ningbo Jingxin Electronic Material Company Information Table 103. Ningbo Jingxin Electronic Material Business Overview Table 104. Ningbo Jingxin Electronic Material Silver Powders and Flakes Production (MT), Value (US$ Million), Price (USD/Kg) and Gross Margin (2021-2026) Table 105. Ningbo Jingxin Electronic Material Silver Powders and Flakes Product Portfolio Table 106. Ningbo Jingxin Electronic Material Recent Development Table 107. Kunming Noble Metal Electronic Materials Company Information Table 108. Kunming Noble Metal Electronic Materials Business Overview Table 109. Kunming Noble Metal Electronic Materials Silver Powders and Flakes Production (MT), Value (US$ Million), Price (USD/Kg) and Gross Margin (2021-2026) Table 110. Kunming Noble Metal Electronic Materials Silver Powders and Flakes Product Portfolio Table 111. Kunming Noble Metal Electronic Materials Recent Development Table 112. Nonfemet Company Information Table 113. Nonfemet Business Overview Table 114. Nonfemet Silver Powders and Flakes Production (MT), Value (US$ Million), Price (USD/Kg) and Gross Margin (2021-2026) Table 115. Nonfemet Silver Powders and Flakes Product Portfolio Table 116. Nonfemet Recent Development Table 117. RightSilver Company Information Table 118. RightSilver Business Overview Table 119. RightSilver Silver Powders and Flakes Production (MT), Value (US$ Million), Price (USD/Kg) and Gross Margin (2021-2026) Table 120. RightSilver Silver Powders and Flakes Product Portfolio Table 121. RightSilver Recent Development Table 122. Changgui Metal Powder Company Information Table 123. Changgui Metal Powder Business Overview Table 124. Changgui Metal Powder Silver Powders and Flakes Production (MT), Value (US$ Million), Price (USD/Kg) and Gross Margin (2021-2026) Table 125. Changgui Metal Powder Silver Powders and Flakes Product Portfolio Table 126. Changgui Metal Powder Recent Development Table 127. Yunnan Copper Science & Technology Company Information Table 128. Yunnan Copper Science & Technology Business Overview Table 129. Yunnan Copper Science & Technology Silver Powders and Flakes Production (MT), Value (US$ Million), Price (USD/Kg) and Gross Margin (2021-2026) Table 130. Yunnan Copper Science & Technology Silver Powders and Flakes Product Portfolio Table 131. Yunnan Copper Science & Technology Recent Development Table 132. Global Silver Powders and Flakes Production Comparison by Region: 2021 VS 2025 VS 2032 (MT) Table 133. Global Silver Powders and Flakes Production by Region (2021-2026) & (MT) Table 134. Global Silver Powders and Flakes Production Market Share by Region (2021-2026) Table 135. Global Silver Powders and Flakes Production Forecast by Region (2027-2032) & (MT) Table 136. Global Silver Powders and Flakes Production Market Share Forecast by Region (2027-2032) Table 137. Global Silver Powders and Flakes Production Value Comparison by Region: 2021 VS 2025 VS 2032 (US$ Million) Table 138. Global Silver Powders and Flakes Production Value by Region (2021-2026) & (US$ Million) Table 139. Global Silver Powders and Flakes Production Value Market Share by Region (2021-2026) Table 140. Global Silver Powders and Flakes Production Value Forecast by Region (2027-2032) & (US$ Million) Table 141. Global Silver Powders and Flakes Market Average Price (USD/Kg) by Region (2021-2026) Table 142. Global Silver Powders and Flakes Market Average Price (USD/Kg) by Region (2027-2032) Table 143. Global Silver Powders and Flakes Consumption Comparison by Region: 2021 VS 2025 VS 2032 (MT) Table 144. Global Silver Powders and Flakes Consumption by Region (2021-2026) & (MT) Table 145. Global Silver Powders and Flakes Consumption Market Share by Region (2021-2026) Table 146. Global Silver Powders and Flakes Forecasted Consumption by Region (2027-2032) & (MT) Table 147. Global Silver Powders and Flakes Forecasted Consumption Market Share by Region (2027-2032) Table 148. North America Silver Powders and Flakes Consumption Growth Rate by Country: 2021 VS 2025 VS 2032 (MT) Table 149. North America Silver Powders and Flakes Consumption by Country (2021-2026) & (MT) Table 150. North America Silver Powders and Flakes Consumption by Country (2027-2032) & (MT) Table 151. Europe Silver Powders and Flakes Consumption Growth Rate by Country: 2021 VS 2025 VS 2032 (MT) Table 152. Europe Silver Powders and Flakes Consumption by Country (2021-2026) & (MT) Table 153. Europe Silver Powders and Flakes Consumption by Country (2027-2032) & (MT) Table 154. Asia Pacific Silver Powders and Flakes Consumption Growth Rate by Country: 2021 VS 2025 VS 2032 (MT) Table 155. Asia Pacific Silver Powders and Flakes Consumption by Country (2021-2026) & (MT) Table 156. Asia Pacific Silver Powders and Flakes Consumption by Country (2027-2032) & (MT) Table 157. South America, Middle East & Africa Silver Powders and Flakes Consumption Growth Rate by Country: 2021 VS 2025 VS 2032 (MT) Table 158. South America, Middle East & Africa Silver Powders and Flakes Consumption by Country (2021-2026) & (MT) Table 159. South America, Middle East & Africa Silver Powders and Flakes Consumption by Country (2027-2032) & (MT) Table 160. Global Silver Powders and Flakes Production by Type (2021-2026) & (MT) Table 161. Global Silver Powders and Flakes Production by Type (2027-2032) & (MT) Table 162. Global Silver Powders and Flakes Production Market Share by Type (2021-2026) Table 163. Global Silver Powders and Flakes Production Market Share by Type (2027-2032) Table 164. Global Silver Powders and Flakes Production Value by Type (2021-2026) & (US$ Million) Table 165. Global Silver Powders and Flakes Production Value by Type (2027-2032) & (US$ Million) Table 166. Global Silver Powders and Flakes Production Value Market Share by Type (2021-2026) Table 167. Global Silver Powders and Flakes Production Value Market Share by Type (2027-2032) Table 168. Global Silver Powders and Flakes Price by Type (2021-2026) & (USD/Kg) Table 169. Global Silver Powders and Flakes Price by Type (2027-2032) & (USD/Kg) Table 170. Global Silver Powders and Flakes Production by Application (2021-2026) & (MT) Table 171. Global Silver Powders and Flakes Production by Application (2027-2032) & (MT) Table 172. Global Silver Powders and Flakes Production Market Share by Application (2021-2026) Table 173. Global Silver Powders and Flakes Production Market Share by Application (2027-2032) Table 174. Global Silver Powders and Flakes Production Value by Application (2021-2026) & (US$ Million) Table 175. Global Silver Powders and Flakes Production Value by Application (2027-2032) & (US$ Million) Table 176. Global Silver Powders and Flakes Production Value Market Share by Application (2021-2026) Table 177. Global Silver Powders and Flakes Production Value Market Share by Application (2027-2032) Table 178. Global Silver Powders and Flakes Price by Application (2021-2026) & (USD/Kg) Table 179. Global Silver Powders and Flakes Price by Application (2027-2032) & (USD/Kg) Table 180. Key Raw Materials Table 181. Raw Materials Key Suppliers Table 182. Silver Powders and Flakes Distributors List Table 183. Silver Powders and Flakes Customers List Table 184. Silver Powders and Flakes Industry Trends Table 185. Silver Powders and Flakes Industry Drivers Table 186. Silver Powders and Flakes Industry Restraints Table 187. Authors List of This Report List of Figures Figure 1. Research Methodology Figure 2. Research Process Figure 3. Key Executives Interviewed Figure 4. Silver Powders and Flakes Product Image Figure 5. Market Value Comparison by Type (2021 VS 2025 VS 2032) & (US$ Million) Figure 6. Silver Powders Product Image Figure 7. Silver Flakes Product Image Figure 8. Photovoltaic Product Image Figure 9. Electronics Product Image Figure 10. Others Product Image Figure 11. Global Silver Powders and Flakes Production Value (US$ Million), 2021 VS 2025 VS 2032 Figure 12. Global Silver Powders and Flakes Production Value (2021-2032) & (US$ Million) Figure 13. Global Silver Powders and Flakes Production Capacity (2021-2032) & (MT) Figure 14. Global Silver Powders and Flakes Production (2021-2032) & (MT) Figure 15. Global Silver Powders and Flakes Average Price (USD/Kg) & (2021-2032) Figure 16. Global Silver Powders and Flakes Key Manufacturers, Manufacturing Sites & Headquarters Figure 17. Global Top 5 and 10 Silver Powders and Flakes Players Market Share by Production Value in 2025 Figure 18. Manufacturers Type (Tier 1, Tier 2, and Tier 3): 2021 VS 2025 Figure 19. Global Silver Powders and Flakes Production Comparison by Region: 2021 VS 2025 VS 2032 (MT) Figure 20. Global Silver Powders and Flakes Production Market Share by Region: 2021 VS 2025 VS 2032 Figure 21. Global Silver Powders and Flakes Production Value Comparison by Region: 2021 VS 2025 VS 2032 (US$ Million) Figure 22. Global Silver Powders and Flakes Production Value Market Share by Region: 2021 VS 2025 VS 2032 Figure 23. North America Silver Powders and Flakes Production Value (US$ Million) Growth Rate (2021-2032) Figure 24. Europe Silver Powders and Flakes Production Value (US$ Million) Growth Rate (2021-2032) Figure 25. China Silver Powders and Flakes Production Value (US$ Million) Growth Rate (2021-2032) Figure 26. Japan Silver Powders and Flakes Production Value (US$ Million) Growth Rate (2021-2032) Figure 27. Global Silver Powders and Flakes Consumption Comparison by Region: 2021 VS 2025 VS 2032 (MT) Figure 28. Global Silver Powders and Flakes Consumption Market Share by Region: 2021 VS 2025 VS 2032 Figure 29. North America Silver Powders and Flakes Consumption and Growth Rate (2021-2032) & (MT) Figure 30. North America Silver Powders and Flakes Consumption Market Share by Country (2021-2032) Figure 31. United States Silver Powders and Flakes Consumption and Growth Rate (2021-2032) & (MT) Figure 32. United States Silver Powders and Flakes Consumption and Growth Rate (2021-2032) & (MT) Figure 33. Canada Silver Powders and Flakes Consumption and Growth Rate (2021-2032) & (MT) Figure 34. Mexico Silver Powders and Flakes Consumption and Growth Rate (2021-2032) & (MT) Figure 35. Europe Silver Powders and Flakes Consumption and Growth Rate (2021-2032) & (MT) Figure 36. Europe Silver Powders and Flakes Consumption Market Share by Country (2021-2032) Figure 37. Germany Silver Powders and Flakes Consumption and Growth Rate (2021-2032) & (MT) Figure 38. France Silver Powders and Flakes Consumption and Growth Rate (2021-2032) & (MT) Figure 39. U.K. Silver Powders and Flakes Consumption and Growth Rate (2021-2032) & (MT) Figure 40. Italy Silver Powders and Flakes Consumption and Growth Rate (2021-2032) & (MT) Figure 41. Russia Silver Powders and Flakes Consumption and Growth Rate (2021-2032) & (MT) Figure 42. Spain Silver Powders and Flakes Consumption and Growth Rate (2021-2032) & (MT) Figure 43. Netherlands Silver Powders and Flakes Consumption and Growth Rate (2021-2032) & (MT) Figure 44. Switzerland Silver Powders and Flakes Consumption and Growth Rate (2021-2032) & (MT) Figure 45. Sweden Silver Powders and Flakes Consumption and Growth Rate (2021-2032) & (MT) Figure 46. Poland Silver Powders and Flakes Consumption and Growth Rate (2021-2032) & (MT) Figure 47. Asia Pacific Silver Powders and Flakes Consumption and Growth Rate (2021-2032) & (MT) Figure 48. Asia Pacific Silver Powders and Flakes Consumption Market Share by Country (2021-2032) Figure 49. China Silver Powders and Flakes Consumption and Growth Rate (2021-2032) & (MT) Figure 50. Japan Silver Powders and Flakes Consumption and Growth Rate (2021-2032) & (MT) Figure 51. South Korea Silver Powders and Flakes Consumption and Growth Rate (2021-2032) & (MT) Figure 52. India Silver Powders and Flakes Consumption and Growth Rate (2021-2032) & (MT) Figure 53. Australia Silver Powders and Flakes Consumption and Growth Rate (2021-2032) & (MT) Figure 54. Taiwan Silver Powders and Flakes Consumption and Growth Rate (2021-2032) & (MT) Figure 55. Southeast Asia Silver Powders and Flakes Consumption and Growth Rate (2021-2032) & (MT) Figure 56. South America, Middle East & Africa Silver Powders and Flakes Consumption and Growth Rate (2021-2032) & (MT) Figure 57. South America, Middle East & Africa Silver Powders and Flakes Consumption Market Share by Country (2021-2032) Figure 58. Brazil Silver Powders and Flakes Consumption and Growth Rate (2021-2032) & (MT) Figure 59. Argentina Silver Powders and Flakes Consumption and Growth Rate (2021-2032) & (MT) Figure 60. Chile Silver Powders and Flakes Consumption and Growth Rate (2021-2032) & (MT) Figure 61. Turkey Silver Powders and Flakes Consumption and Growth Rate (2021-2032) & (MT) Figure 62. GCC Countries Silver Powders and Flakes Consumption and Growth Rate (2021-2032) & (MT) Figure 63. Global Silver Powders and Flakes Production Market Share by Type (2021-2032) Figure 64. Global Silver Powders and Flakes Production Value Market Share by Type (2021-2032) Figure 65. Global Silver Powders and Flakes Price (USD/Kg) by Type (2021-2032) Figure 66. Global Silver Powders and Flakes Production Market Share by Application (2021-2032) Figure 67. Global Silver Powders and Flakes Production Value Market Share by Application (2021-2032) Figure 68. Global Silver Powders and Flakes Price (USD/Kg) by Application (2021-2032) Figure 69. Silver Powders and Flakes Value Chain Figure 70. Silver Powders and Flakes Production Mode & Process Figure 71. Direct Comparison with Distribution Share Figure 72. Distributors Profiles Figure 73. Silver Powders and Flakes Industry Opportunities and Challenges

Scope & coverage.

Types
  • Silver Powders
  • Silver Flakes
Applications
  • Photovoltaic
  • Electronics
  • Others
Companies covered
  • Ames Goldsmith
  • DOWA Hightech
  • DuPont
  • Johnson Matthey
  • Mitsui Kinzoku
  • Technic
  • Fukuda
  • Shoei Chemical
  • AG PRO Technology
  • MEPCO
  • Cermet
  • Yamamoto Precious Metal
  • TANAKA
  • Shin Nihon Kakin
  • Tokuriki Honten
  • Tongling Nonferrous Metals Group Holding
  • CNMC Ningxia Orient Group
  • Ningbo Jingxin Electronic Material
  • Kunming Noble Metal Electronic Materials
  • Nonfemet
  • RightSilver
  • Changgui Metal Powder
  • Yunnan Copper Science & Technology

Inside the report.

1 Preface
  1. 1.1 Scope of Report
  2. 1.2 Reasons for Doing This Study
  3. 1.3 Research Methodology
  4. 1.4 Research Process
  5. 1.5 Data Source
  6. 1.5.1 Secondary Sources
  7. 1.5.2 Primary Sources
2 Market Overview
  1. 2.1 Product Definition
  2. 2.2 Silver Powders and Flakes by Type
  3. 2.2.1 Market Value Comparison by Type (2021 VS 2025 VS 2032) & (US$ Million)
  4. 2.2.2 Silver Powders
  5. 2.2.3 Silver Flakes
  6. 2.3 Silver Powders and Flakes by Application
  7. 2.3.1 Market Value Comparison by Application (2021 VS 2025 VS 2032) & (US$ Million)
  8. 2.3.2 Photovoltaic
  9. 2.3.3 Electronics
  10. 2.3.4 Others
  11. 2.4 Global Market Growth Prospects
  12. 2.4.1 Global Silver Powders and Flakes Production Value Estimates and Forecasts (2021-2032)
  13. 2.4.2 Global Silver Powders and Flakes Production Capacity Estimates and Forecasts (2021-2032)
  14. 2.4.3 Global Silver Powders and Flakes Production Estimates and Forecasts (2021-2032)
  15. 2.4.4 Global Silver Powders and Flakes Market Average Price (2021-2032)
3 Market Competitive Landscape by Manufacturers
  1. 3.1 Global Silver Powders and Flakes Production by Manufacturers (2021-2026)
  2. 3.2 Global Silver Powders and Flakes Production Value by Manufacturers (2021-2026)
  3. 3.3 Global Silver Powders and Flakes Average Price by Manufacturers (2021-2026)
  4. 3.4 Global Silver Powders and Flakes Industry Manufacturers Ranking, 2024 VS 2025 VS 2026
  5. 3.5 Global Silver Powders and Flakes Key Manufacturers, Manufacturing Sites & Headquarters
  6. 3.6 Global Silver Powders and Flakes Manufacturers, Product Type & Application
  7. 3.7 Global Silver Powders and Flakes Manufacturers Established Date
  8. 3.8 Global Silver Powders and Flakes Market CR5 and HHI
  9. 3.9 Global Manufacturers Mergers & Acquisition
4 Manufacturers Profiled
  1. 4.1 Ames Goldsmith
  2. 4.1.1 Ames Goldsmith Silver Powders and Flakes Company Information
  3. 4.1.2 Ames Goldsmith Silver Powders and Flakes Business Overview
  4. 4.1.3 Ames Goldsmith Silver Powders and Flakes Production Capacity, Value and Gross Margin (2021-2026)
  5. 4.1.4 Ames Goldsmith Product Portfolio
  6. 4.1.5 Ames Goldsmith Recent Developments
  7. 4.2 DOWA Hightech
  8. 4.2.1 DOWA Hightech Silver Powders and Flakes Company Information
  9. 4.2.2 DOWA Hightech Silver Powders and Flakes Business Overview
  10. 4.2.3 DOWA Hightech Silver Powders and Flakes Production Capacity, Value and Gross Margin (2021-2026)
  11. 4.2.4 DOWA Hightech Product Portfolio
  12. 4.2.5 DOWA Hightech Recent Developments
  13. 4.3 DuPont
  14. 4.3.1 DuPont Silver Powders and Flakes Company Information
  15. 4.3.2 DuPont Silver Powders and Flakes Business Overview
  16. 4.3.3 DuPont Silver Powders and Flakes Production Capacity, Value and Gross Margin (2021-2026)
  17. 4.3.4 DuPont Product Portfolio
  18. 4.3.5 DuPont Recent Developments
  19. 4.4 Johnson Matthey
  20. 4.4.1 Johnson Matthey Silver Powders and Flakes Company Information
  21. 4.4.2 Johnson Matthey Silver Powders and Flakes Business Overview
  22. 4.4.3 Johnson Matthey Silver Powders and Flakes Production Capacity, Value and Gross Margin (2021-2026)
  23. 4.4.4 Johnson Matthey Product Portfolio
  24. 4.4.5 Johnson Matthey Recent Developments
  25. 4.5 Mitsui Kinzoku
  26. 4.5.1 Mitsui Kinzoku Silver Powders and Flakes Company Information
  27. 4.5.2 Mitsui Kinzoku Silver Powders and Flakes Business Overview
  28. 4.5.3 Mitsui Kinzoku Silver Powders and Flakes Production Capacity, Value and Gross Margin (2021-2026)
  29. 4.5.4 Mitsui Kinzoku Product Portfolio
  30. 4.5.5 Mitsui Kinzoku Recent Developments
  31. 4.6 Technic
  32. 4.6.1 Technic Silver Powders and Flakes Company Information
  33. 4.6.2 Technic Silver Powders and Flakes Business Overview
  34. 4.6.3 Technic Silver Powders and Flakes Production Capacity, Value and Gross Margin (2021-2026)
  35. 4.6.4 Technic Product Portfolio
  36. 4.6.5 Technic Recent Developments
  37. 4.7 Fukuda
  38. 4.7.1 Fukuda Silver Powders and Flakes Company Information
  39. 4.7.2 Fukuda Silver Powders and Flakes Business Overview
  40. 4.7.3 Fukuda Silver Powders and Flakes Production Capacity, Value and Gross Margin (2021-2026)
  41. 4.7.4 Fukuda Product Portfolio
  42. 4.7.5 Fukuda Recent Developments
  43. 4.8 Shoei Chemical
  44. 4.8.1 Shoei Chemical Silver Powders and Flakes Company Information
  45. 4.8.2 Shoei Chemical Silver Powders and Flakes Business Overview
  46. 4.8.3 Shoei Chemical Silver Powders and Flakes Production Capacity, Value and Gross Margin (2021-2026)
  47. 4.8.4 Shoei Chemical Product Portfolio
  48. 4.8.5 Shoei Chemical Recent Developments
  49. 4.9 AG PRO Technology
  50. 4.9.1 AG PRO Technology Silver Powders and Flakes Company Information
  51. 4.9.2 AG PRO Technology Silver Powders and Flakes Business Overview
  52. 4.9.3 AG PRO Technology Silver Powders and Flakes Production Capacity, Value and Gross Margin (2021-2026)
  53. 4.9.4 AG PRO Technology Product Portfolio
  54. 4.9.5 AG PRO Technology Recent Developments
  55. 4.10 MEPCO
  56. 4.10.1 MEPCO Silver Powders and Flakes Company Information
  57. 4.10.2 MEPCO Silver Powders and Flakes Business Overview
  58. 4.10.3 MEPCO Silver Powders and Flakes Production Capacity, Value and Gross Margin (2021-2026)
  59. 4.10.4 MEPCO Product Portfolio
  60. 4.10.5 MEPCO Recent Developments
  61. 4.11 Cermet
  62. 4.11.1 Cermet Silver Powders and Flakes Company Information
  63. 4.11.2 Cermet Silver Powders and Flakes Business Overview
  64. 4.11.3 Cermet Silver Powders and Flakes Production Capacity, Value and Gross Margin (2021-2026)
  65. 4.11.4 Cermet Product Portfolio
  66. 4.11.5 Cermet Recent Developments
  67. 4.12 Yamamoto Precious Metal
  68. 4.12.1 Yamamoto Precious Metal Silver Powders and Flakes Company Information
  69. 4.12.2 Yamamoto Precious Metal Silver Powders and Flakes Business Overview
  70. 4.12.3 Yamamoto Precious Metal Silver Powders and Flakes Production Capacity, Value and Gross Margin (2021-2026)
  71. 4.12.4 Yamamoto Precious Metal Product Portfolio
  72. 4.12.5 Yamamoto Precious Metal Recent Developments
  73. 4.13 TANAKA
  74. 4.13.1 TANAKA Silver Powders and Flakes Company Information
  75. 4.13.2 TANAKA Silver Powders and Flakes Business Overview
  76. 4.13.3 TANAKA Silver Powders and Flakes Production Capacity, Value and Gross Margin (2021-2026)
  77. 4.13.4 TANAKA Product Portfolio
  78. 4.13.5 TANAKA Recent Developments
  79. 4.14 Shin Nihon Kakin
  80. 4.14.1 Shin Nihon Kakin Silver Powders and Flakes Company Information
  81. 4.14.2 Shin Nihon Kakin Silver Powders and Flakes Business Overview
  82. 4.14.3 Shin Nihon Kakin Silver Powders and Flakes Production Capacity, Value and Gross Margin (2021-2026)
  83. 4.14.4 Shin Nihon Kakin Product Portfolio
  84. 4.14.5 Shin Nihon Kakin Recent Developments
  85. 4.15 Tokuriki Honten
  86. 4.15.1 Tokuriki Honten Silver Powders and Flakes Company Information
  87. 4.15.2 Tokuriki Honten Silver Powders and Flakes Business Overview
  88. 4.15.3 Tokuriki Honten Silver Powders and Flakes Production Capacity, Value and Gross Margin (2021-2026)
  89. 4.15.4 Tokuriki Honten Product Portfolio
  90. 4.15.5 Tokuriki Honten Recent Developments
  91. 4.16 Tongling Nonferrous Metals Group Holding
  92. 4.16.1 Tongling Nonferrous Metals Group Holding Silver Powders and Flakes Company Information
  93. 4.16.2 Tongling Nonferrous Metals Group Holding Silver Powders and Flakes Business Overview
  94. 4.16.3 Tongling Nonferrous Metals Group Holding Silver Powders and Flakes Production Capacity, Value and Gross Margin (2021-2026)
  95. 4.16.4 Tongling Nonferrous Metals Group Holding Product Portfolio
  96. 4.16.5 Tongling Nonferrous Metals Group Holding Recent Developments
  97. 4.17 CNMC Ningxia Orient Group
  98. 4.17.1 CNMC Ningxia Orient Group Silver Powders and Flakes Company Information
  99. 4.17.2 CNMC Ningxia Orient Group Silver Powders and Flakes Business Overview
  100. 4.17.3 CNMC Ningxia Orient Group Silver Powders and Flakes Production Capacity, Value and Gross Margin (2021-2026)
  101. 4.17.4 CNMC Ningxia Orient Group Product Portfolio
  102. 4.17.5 CNMC Ningxia Orient Group Recent Developments
  103. 4.18 Ningbo Jingxin Electronic Material
  104. 4.18.1 Ningbo Jingxin Electronic Material Silver Powders and Flakes Company Information
  105. 4.18.2 Ningbo Jingxin Electronic Material Silver Powders and Flakes Business Overview
  106. 4.18.3 Ningbo Jingxin Electronic Material Silver Powders and Flakes Production Capacity, Value and Gross Margin (2021-2026)
  107. 4.18.4 Ningbo Jingxin Electronic Material Product Portfolio
  108. 4.18.5 Ningbo Jingxin Electronic Material Recent Developments
  109. 4.19 Kunming Noble Metal Electronic Materials
  110. 4.19.1 Kunming Noble Metal Electronic Materials Silver Powders and Flakes Company Information
  111. 4.19.2 Kunming Noble Metal Electronic Materials Silver Powders and Flakes Business Overview
  112. 4.19.3 Kunming Noble Metal Electronic Materials Silver Powders and Flakes Production Capacity, Value and Gross Margin (2021-2026)
  113. 4.19.4 Kunming Noble Metal Electronic Materials Product Portfolio
  114. 4.19.5 Kunming Noble Metal Electronic Materials Recent Developments
  115. 4.20 Nonfemet
  116. 4.20.1 Nonfemet Silver Powders and Flakes Company Information
  117. 4.20.2 Nonfemet Silver Powders and Flakes Business Overview
  118. 4.20.3 Nonfemet Silver Powders and Flakes Production Capacity, Value and Gross Margin (2021-2026)
  119. 4.20.4 Nonfemet Product Portfolio
  120. 4.20.5 Nonfemet Recent Developments
  121. 4.21 RightSilver
  122. 4.21.1 RightSilver Silver Powders and Flakes Company Information
  123. 4.21.2 RightSilver Silver Powders and Flakes Business Overview
  124. 4.21.3 RightSilver Silver Powders and Flakes Production Capacity, Value and Gross Margin (2021-2026)
  125. 4.21.4 RightSilver Product Portfolio
  126. 4.21.5 RightSilver Recent Developments
  127. 4.22 Changgui Metal Powder
  128. 4.22.1 Changgui Metal Powder Silver Powders and Flakes Company Information
  129. 4.22.2 Changgui Metal Powder Silver Powders and Flakes Business Overview
  130. 4.22.3 Changgui Metal Powder Silver Powders and Flakes Production Capacity, Value and Gross Margin (2021-2026)
  131. 4.22.4 Changgui Metal Powder Product Portfolio
  132. 4.22.5 Changgui Metal Powder Recent Developments
  133. 4.23 Yunnan Copper Science & Technology
  134. 4.23.1 Yunnan Copper Science & Technology Silver Powders and Flakes Company Information
  135. 4.23.2 Yunnan Copper Science & Technology Silver Powders and Flakes Business Overview
  136. 4.23.3 Yunnan Copper Science & Technology Silver Powders and Flakes Production Capacity, Value and Gross Margin (2021-2026)
  137. 4.23.4 Yunnan Copper Science & Technology Product Portfolio
  138. 4.23.5 Yunnan Copper Science & Technology Recent Developments
5 Global Silver Powders and Flakes Production by Region
  1. 5.1 Global Silver Powders and Flakes Production Estimates and Forecasts by Region: 2021 VS 2025 VS 2032
  2. 5.2 Global Silver Powders and Flakes Production by Region: 2021-2032
  3. 5.2.1 Global Silver Powders and Flakes Production by Region: 2021-2026
  4. 5.2.2 Global Silver Powders and Flakes Production Forecast by Region (2027-2032)
  5. 5.3 Global Silver Powders and Flakes Production Value Estimates and Forecasts by Region: 2021 VS 2025 VS 2032
  6. 5.4 Global Silver Powders and Flakes Production Value by Region: 2021-2032
  7. 5.4.1 Global Silver Powders and Flakes Production Value by Region: 2021-2026
  8. 5.4.2 Global Silver Powders and Flakes Production Value Forecast by Region (2027-2032)
  9. 5.5 Global Silver Powders and Flakes Market Price Analysis by Region (2021-2026)
  10. 5.6 Global Silver Powders and Flakes Production and Value, YOY Growth
  11. 5.6.1 North America Silver Powders and Flakes Production Value Estimates and Forecasts (2021-2032)
  12. 5.6.2 Europe Silver Powders and Flakes Production Value Estimates and Forecasts (2021-2032)
  13. 5.6.3 China Silver Powders and Flakes Production Value Estimates and Forecasts (2021-2032)
  14. 5.6.4 Japan Silver Powders and Flakes Production Value Estimates and Forecasts (2021-2032)
6 Global Silver Powders and Flakes Consumption by Region
  1. 6.1 Global Silver Powders and Flakes Consumption Estimates and Forecasts by Region: 2021 VS 2025 VS 2032
  2. 6.2 Global Silver Powders and Flakes Consumption by Region (2021-2032)
  3. 6.2.1 Global Silver Powders and Flakes Consumption by Region: 2021-2026
  4. 6.2.2 Global Silver Powders and Flakes Forecasted Consumption by Region (2027-2032)
  5. 6.3 North America
  6. 6.3.1 North America Silver Powders and Flakes Consumption Growth Rate by Country: 2021 VS 2025 VS 2032
  7. 6.3.2 North America Silver Powders and Flakes Consumption by Country (2021-2032)
  8. 6.3.3 United States
  9. 6.3.4 Canada
  10. 6.3.5 Mexico
  11. 6.4 Europe
  12. 6.4.1 Europe Silver Powders and Flakes Consumption Growth Rate by Country: 2021 VS 2025 VS 2032
  13. 6.4.2 Europe Silver Powders and Flakes Consumption by Country (2021-2032)
  14. 6.4.3 Germany
  15. 6.4.4 France
  16. 6.4.5 U.K.
  17. 6.4.6 Italy
  18. 6.4.7 Russia
  19. 6.4.8 Spain
  20. 6.4.9 Netherlands
  21. 6.4.10 Switzerland
  22. 6.4.11 Sweden
  23. 6.4.12 Poland
  24. 6.5 Asia Pacific
  25. 6.5.1 Asia Pacific Silver Powders and Flakes Consumption Growth Rate by Country: 2021 VS 2025 VS 2032
  26. 6.5.2 Asia Pacific Silver Powders and Flakes Consumption by Country (2021-2032)
  27. 6.5.3 China
  28. 6.5.4 Japan
  29. 6.5.5 South Korea
  30. 6.5.6 India
  31. 6.5.7 Australia
  32. 6.5.8 Taiwan
  33. 6.5.9 Southeast Asia
  34. 6.6 South America, Middle East & Africa
  35. 6.6.1 South America, Middle East & Africa Silver Powders and Flakes Consumption Growth Rate by Country: 2021 VS 2025 VS 2032
  36. 6.6.2 South America, Middle East & Africa Silver Powders and Flakes Consumption by Country (2021-2032)
  37. 6.6.3 Brazil
  38. 6.6.4 Argentina
  39. 6.6.5 Chile
  40. 6.6.6 Turkey
  41. 6.6.7 GCC Countries
7 Segment by Type
  1. 7.1 Global Silver Powders and Flakes Production by Type (2021-2032)
  2. 7.1.1 Global Silver Powders and Flakes Production by Type (2021-2032) & (MT)
  3. 7.1.2 Global Silver Powders and Flakes Production Market Share by Type (2021-2032)
  4. 7.2 Global Silver Powders and Flakes Production Value by Type (2021-2032)
  5. 7.2.1 Global Silver Powders and Flakes Production Value by Type (2021-2032) & (US$ Million)
  6. 7.2.2 Global Silver Powders and Flakes Production Value Market Share by Type (2021-2032)
  7. 7.3 Global Silver Powders and Flakes Price by Type (2021-2032)
8 Segment by Application
  1. 8.1 Global Silver Powders and Flakes Production by Application (2021-2032)
  2. 8.1.1 Global Silver Powders and Flakes Production by Application (2021-2032) & (MT)
  3. 8.1.2 Global Silver Powders and Flakes Production Market Share by Application (2021-2032)
  4. 8.2 Global Silver Powders and Flakes Production Value by Application (2021-2032)
  5. 8.2.1 Global Silver Powders and Flakes Production Value by Application (2021-2032) & (US$ Million)
  6. 8.2.2 Global Silver Powders and Flakes Production Value Market Share by Application (2021-2032)
  7. 8.3 Global Silver Powders and Flakes Price by Application (2021-2032)
9 Value Chain and Sales Channels Analysis of the Market
  1. 9.1 Silver Powders and Flakes Value Chain Analysis
  2. 9.1.1 Silver Powders and Flakes Key Raw Materials
  3. 9.1.2 Raw Materials Key Suppliers
  4. 9.1.3 Silver Powders and Flakes Production Mode & Process
  5. 9.2 Silver Powders and Flakes Sales Channels Analysis
  6. 9.2.1 Direct Comparison with Distribution Share
  7. 9.2.2 Silver Powders and Flakes Distributors
  8. 9.2.3 Silver Powders and Flakes Customers
10 Global Silver Powders and Flakes Analyzing Market Dynamics
  1. 10.1 Silver Powders and Flakes Industry Trends
  2. 10.2 Silver Powders and Flakes Industry Drivers
  3. 10.3 Silver Powders and Flakes Industry Opportunities and Challenges
  4. 10.4 Silver Powders and Flakes Industry Restraints
11 Report Conclusion
    12 Disclaimer

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