Global Perfumery Grade Ethanol Market to Reach US$ 1,586 Million by 2031, Driven by Premium Fragrance and Personal Care Demand | QY Research

Market Summary -
The global market for Perfumery Grade Ethanol was estimated to be worth US$ 1,150 million in 2024 and is forecast to reach a readjusted size of US$ 1,586 million by 2031, expanding at a CAGR of 4.7% during the forecast period 2025-2031.
According to QY Research, the newly published report titled "Global Perfumery Grade Ethanol Market Share and Ranking, Overall Sales and Demand Forecast 2025-2031" provides a detailed, data-driven evaluation of the global perfumery grade ethanol industry. The report delivers validated market size estimates, competitive benchmarking, and strategic insights to support decision-making for ethanol producers, fragrance houses, personal care brands, distributors, and investors. By combining historical market performance with forward-looking forecasts, the study explains key growth drivers, pricing trends, regulatory influences, and regional demand patterns shaping the industry.

Get Full PDF Sample Copy of the Report (Including Full TOC, Tables & Charts):
https://www.qyresearch.in/request-sample/chemical-material-global-perfumery-grade-ethanol-market-share-and-ranking-overall-sales-and-demand-forecast-2025-2031

Trade Policy and Supply Chain Impact -
Potential changes in the 2025 U.S. tariff framework introduce notable uncertainty across global bio-ethanol and specialty alcohol supply chains. This report provides a comprehensive assessment of recent tariff adjustments and international countermeasures affecting perfumery grade ethanol, with specific focus on cross-border production networks, capital investment strategies, regional trade flows, and supply chain reconfiguration. As perfumery ethanol is closely linked to agricultural feedstocks and biofuel policy, trade regulations and duties may influence sourcing strategies and regional competitiveness.

Product Overview and Market Economics -
Perfumery Grade Ethanol is a high-purity ethyl alcohol specifically refined for use in perfumes and fine fragrances. It is typically denatured to comply with regulatory standards while maintaining minimal odor, high volatility, and excellent solvency for fragrance oils. This grade is essential for ensuring clean evaporation, even scent diffusion, and stability of premium fragrance formulations.

Perfumery grade ethanol must meet strict specifications for purity, clarity, and impurity control, as trace contaminants can alter or degrade fragrance profiles. Based on industry pricing and purity premiums, global consumption volumes in 2024 were estimated at around 1.0 million metric tons, with an average sell-through price of approximately US$ 1,100 per ton.

Market Drivers and Development Trends -
Market growth is primarily driven by the steady expansion of the global fragrance and personal care industry, including premium perfumes, skincare, hair care, and color cosmetics. Rising disposable incomes, urbanization, and demand for premium and niche fragrances are supporting sustained ethanol consumption in mature and emerging markets.

At the same time, manufacturers are increasingly focused on traceability, bio-based sourcing, sustainability certification, and consistent quality, particularly in Europe and North America. Regulatory scrutiny on denaturing formulations and alcohol taxation continues to shape production strategies, while Asia-Pacific is emerging as a major growth hub due to expanding cosmetics manufacturing and regional fragrance brands.

Market Segmentation and Regional Analysis -

By Type -
► Purity ≥95%
► Purity ≥99%

Higher-purity ethanol grades are gaining traction in premium and luxury fragrance formulations where olfactory neutrality is critical.

By Application -
► Perfume
► Skin Care Products
► Hair Care Products
► Color Cosmetics

Perfume remains the dominant application, while skincare and hair care segments are expanding steadily with the growth of clean beauty and premium personal care products.

By Region -
► Europe remains a core market, supported by strong fragrance manufacturing in France, Germany, and Italy.
► North America benefits from premium personal care consumption and stable regulatory frameworks.
► Asia Pacific is the fastest-growing region, driven by cosmetics production growth in China, India, and Southeast Asia.
► South America (notably Brazil) plays a dual role as both a major production base and consumption market.
► Middle East & Africa represent emerging opportunities tied to luxury fragrance demand and regional brand development.

Major Companies Profiled -

Key players operating in the global perfumery grade ethanol market include:
► Raízen
► India Glycols Limited (IGL)
► CropEnergies
► ADM
► POET
► Valero Energy
► Tereos
► Alto Ingredients
► Cristalco
► Cargill
► Euro-Alkohol
► Wilmar BioEthanol
► Godavari Biorefineries
► SDIC Biotech JILIN
► Anhui Ante Food
► Taicang Xintal Alcohol

In 2024, the top five manufacturers accounted for a significant share of global revenue, reflecting moderate market concentration with strong regional players.

Reasons to Procure This Report -
► Access reliable global, regional, and country-level perfumery grade ethanol market forecasts through 2031
► Understand company rankings, market shares, and competitive positioning
► Analyze pricing trends, purity premiums, and feedstock cost influences
► Identify growth opportunities across fragrance and personal care applications
► Evaluate trade policy, sustainability, and regulatory risks impacting the market

Key Questions Answered in the Report -
► What is the current size and future growth outlook of the perfumery grade ethanol market?
► Which regions and applications will drive demand through 2031?
► How do purity requirements and regulations affect pricing and supply?
► Who are the leading producers, and how competitive is the global landscape?
► What risks and opportunities exist for producers, distributors, and fragrance brands?

Request for Pre-Order / Enquiry Link:
https://www.qyresearch.in/pre-order-inquiry/chemical-material-global-perfumery-grade-ethanol-market-share-and-ranking-overall-sales-and-demand-forecast-2025-2031

Table of Content:
1 Market Overview
1.1 Perfumery Grade Ethanol Product Introduction
1.2 Global Perfumery Grade Ethanol Market Size Forecast
1.2.1 Global Perfumery Grade Ethanol Sales Value (2020-2031)
1.2.2 Global Perfumery Grade Ethanol Sales Volume (2020-2031)
1.2.3 Global Perfumery Grade Ethanol Sales Price (2020-2031)
1.3 Perfumery Grade Ethanol Market Trends & Drivers
1.3.1 Perfumery Grade Ethanol Industry Trends
1.3.2 Perfumery Grade Ethanol Market Drivers & Opportunity
1.3.3 Perfumery Grade Ethanol Market Challenges
1.3.4 Perfumery Grade Ethanol Market Restraints
1.4 Assumptions and Limitations
1.5 Study Objectives
1.6 Years Considered
2 Competitive Analysis by Company
2.1 Global Perfumery Grade Ethanol Players Revenue Ranking (2024)
2.2 Global Perfumery Grade Ethanol Revenue by Company (2020-2025)
2.3 Global Perfumery Grade Ethanol Players Sales Volume Ranking (2024)
2.4 Global Perfumery Grade Ethanol Sales Volume by Company Players (2020-2025)
2.5 Global Perfumery Grade Ethanol Average Price by Company (2020-2025)
2.6 Key Manufacturers Perfumery Grade Ethanol Manufacturing Base and Headquarters
2.7 Key Manufacturers Perfumery Grade Ethanol Product Offered
2.8 Key Manufacturers Time to Begin Mass Production of Perfumery Grade Ethanol
2.9 Perfumery Grade Ethanol Market Competitive Analysis
2.9.1 Perfumery Grade Ethanol Market Concentration Rate (2020-2025)
2.9.2 Global 5 and 10 Largest Manufacturers by Perfumery Grade Ethanol Revenue in 2024
2.9.3 Global Top Manufacturers by Company Type (Tier 1, Tier 2, and Tier 3) & (based on the Revenue in Perfumery Grade Ethanol as of 2024)
2.10 Mergers & Acquisitions, Expansion
3 Segmentation by Type
3.1 Introduction by Type
3.1.1 Purity ≥95%
3.1.2 Purity ≥99%
3.2 Global Perfumery Grade Ethanol Sales Value by Type
3.2.1 Global Perfumery Grade Ethanol Sales Value by Type (2020 VS 2024 VS 2031)
3.2.2 Global Perfumery Grade Ethanol Sales Value, by Type (2020-2031)
3.2.3 Global Perfumery Grade Ethanol Sales Value, by Type (%) (2020-2031)
3.3 Global Perfumery Grade Ethanol Sales Volume by Type
3.3.1 Global Perfumery Grade Ethanol Sales Volume by Type (2020 VS 2024 VS 2031)
3.3.2 Global Perfumery Grade Ethanol Sales Volume, by Type (2020-2031)
3.3.3 Global Perfumery Grade Ethanol Sales Volume, by Type (%) (2020-2031)
3.4 Global Perfumery Grade Ethanol Average Price by Type (2020-2031)
4 Segmentation by Application
4.1 Introduction by Application
4.1.1 Perfume
4.1.2 Skin Care Products
4.1.3 Hair Care Products
4.1.4 Color Cosmetics
4.2 Global Perfumery Grade Ethanol Sales Value by Application
4.2.1 Global Perfumery Grade Ethanol Sales Value by Application (2020 VS 2024 VS 2031)
4.2.2 Global Perfumery Grade Ethanol Sales Value, by Application (2020-2031)
4.2.3 Global Perfumery Grade Ethanol Sales Value, by Application (%) (2020-2031)
4.3 Global Perfumery Grade Ethanol Sales Volume by Application
4.3.1 Global Perfumery Grade Ethanol Sales Volume by Application (2020 VS 2024 VS 2031)
4.3.2 Global Perfumery Grade Ethanol Sales Volume, by Application (2020-2031)
4.3.3 Global Perfumery Grade Ethanol Sales Volume, by Application (%) (2020-2031)
4.4 Global Perfumery Grade Ethanol Average Price by Application (2020-2031)
5 Segmentation by Region
5.1 Global Perfumery Grade Ethanol Sales Value by Region
5.1.1 Global Perfumery Grade Ethanol Sales Value by Region: 2020 VS 2024 VS 2031
5.1.2 Global Perfumery Grade Ethanol Sales Value by Region (2020-2025)
5.1.3 Global Perfumery Grade Ethanol Sales Value by Region (2026-2031)
5.1.4 Global Perfumery Grade Ethanol Sales Value by Region (%), (2020-2031)
5.2 Global Perfumery Grade Ethanol Sales Volume by Region
5.2.1 Global Perfumery Grade Ethanol Sales Volume by Region: 2020 VS 2024 VS 2031
5.2.2 Global Perfumery Grade Ethanol Sales Volume by Region (2020-2025)
5.2.3 Global Perfumery Grade Ethanol Sales Volume by Region (2026-2031)
5.2.4 Global Perfumery Grade Ethanol Sales Volume by Region (%), (2020-2031)
5.3 Global Perfumery Grade Ethanol Average Price by Region (2020-2031)
5.4 North America
5.4.1 North America Perfumery Grade Ethanol Sales Value, 2020-2031
5.4.2 North America Perfumery Grade Ethanol Sales Value by Country (%), 2024 VS 2031
5.5 Europe
5.5.1 Europe Perfumery Grade Ethanol Sales Value, 2020-2031
5.5.2 Europe Perfumery Grade Ethanol Sales Value by Country (%), 2024 VS 2031
5.6 Asia Pacific
5.6.1 Asia Pacific Perfumery Grade Ethanol Sales Value, 2020-2031
5.6.2 Asia Pacific Perfumery Grade Ethanol Sales Value by Region (%), 2024 VS 2031
5.7 South America
5.7.1 South America Perfumery Grade Ethanol Sales Value, 2020-2031
5.7.2 South America Perfumery Grade Ethanol Sales Value by Country (%), 2024 VS 2031
5.8 Middle East & Africa
5.8.1 Middle East & Africa Perfumery Grade Ethanol Sales Value, 2020-2031
5.8.2 Middle East & Africa Perfumery Grade Ethanol Sales Value by Country (%), 2024 VS 2031
6 Segmentation by Key Countries/Regions
6.1 Key Countries/Regions Perfumery Grade Ethanol Sales Value Growth Trends, 2020 VS 2024 VS 2031
6.2 Key Countries/Regions Perfumery Grade Ethanol Sales Value and Sales Volume
6.2.1 Key Countries/Regions Perfumery Grade Ethanol Sales Value, 2020-2031
6.2.2 Key Countries/Regions Perfumery Grade Ethanol Sales Volume, 2020-2031
6.3 United States
6.3.1 United States Perfumery Grade Ethanol Sales Value, 2020-2031
6.3.2 United States Perfumery Grade Ethanol Sales Value by Type (%), 2024 VS 2031
6.3.3 United States Perfumery Grade Ethanol Sales Value by Application, 2024 VS 2031
6.4 Europe
6.4.1 Europe Perfumery Grade Ethanol Sales Value, 2020-2031
6.4.2 Europe Perfumery Grade Ethanol Sales Value by Type (%), 2024 VS 2031
6.4.3 Europe Perfumery Grade Ethanol Sales Value by Application, 2024 VS 2031
6.5 China
6.5.1 China Perfumery Grade Ethanol Sales Value, 2020-2031
6.5.2 China Perfumery Grade Ethanol Sales Value by Type (%), 2024 VS 2031
6.5.3 China Perfumery Grade Ethanol Sales Value by Application, 2024 VS 2031
6.6 Japan
6.6.1 Japan Perfumery Grade Ethanol Sales Value, 2020-2031
6.6.2 Japan Perfumery Grade Ethanol Sales Value by Type (%), 2024 VS 2031
6.6.3 Japan Perfumery Grade Ethanol Sales Value by Application, 2024 VS 2031
6.7 South Korea
6.7.1 South Korea Perfumery Grade Ethanol Sales Value, 2020-2031
6.7.2 South Korea Perfumery Grade Ethanol Sales Value by Type (%), 2024 VS 2031
6.7.3 South Korea Perfumery Grade Ethanol Sales Value by Application, 2024 VS 2031
6.8 Southeast Asia
6.8.1 Southeast Asia Perfumery Grade Ethanol Sales Value, 2020-2031
6.8.2 Southeast Asia Perfumery Grade Ethanol Sales Value by Type (%), 2024 VS 2031
6.8.3 Southeast Asia Perfumery Grade Ethanol Sales Value by Application, 2024 VS 2031
6.9 India
6.9.1 India Perfumery Grade Ethanol Sales Value, 2020-2031
6.9.2 India Perfumery Grade Ethanol Sales Value by Type (%), 2024 VS 2031
6.9.3 India Perfumery Grade Ethanol Sales Value by Application, 2024 VS 2031
7 Company Profiles
7.1 Raízen
7.1.1 Raízen Company Information
7.1.2 Raízen Introduction and Business Overview
7.1.3 Raízen Perfumery Grade Ethanol Sales, Revenue, Price and Gross Margin (2020-2025)
7.1.4 Raízen Perfumery Grade Ethanol Product Offerings
7.1.5 Raízen Recent Development
7.2 India Glycols Limited (lGL)
7.2.1 India Glycols Limited (lGL) Company Information
7.2.2 India Glycols Limited (lGL) Introduction and Business Overview
7.2.3 India Glycols Limited (lGL) Perfumery Grade Ethanol Sales, Revenue, Price and Gross Margin (2020-2025)
7.2.4 India Glycols Limited (lGL) Perfumery Grade Ethanol Product Offerings
7.2.5 India Glycols Limited (lGL) Recent Development
7.3 CropEnergies
7.3.1 CropEnergies Company Information
7.3.2 CropEnergies Introduction and Business Overview
7.3.3 CropEnergies Perfumery Grade Ethanol Sales, Revenue, Price and Gross Margin (2020-2025)
7.3.4 CropEnergies Perfumery Grade Ethanol Product Offerings
7.3.5 CropEnergies Recent Development
7.4 ADM
7.4.1 ADM Company Information
7.4.2 ADM Introduction and Business Overview
7.4.3 ADM Perfumery Grade Ethanol Sales, Revenue, Price and Gross Margin (2020-2025)
7.4.4 ADM Perfumery Grade Ethanol Product Offerings
7.4.5 ADM Recent Development
7.5 POET
7.5.1 POET Company Information
7.5.2 POET Introduction and Business Overview
7.5.3 POET Perfumery Grade Ethanol Sales, Revenue, Price and Gross Margin (2020-2025)
7.5.4 POET Perfumery Grade Ethanol Product Offerings
7.5.5 POET Recent Development
7.6 Valero Energy
7.6.1 Valero Energy Company Information
7.6.2 Valero Energy Introduction and Business Overview
7.6.3 Valero Energy Perfumery Grade Ethanol Sales, Revenue, Price and Gross Margin (2020-2025)
7.6.4 Valero Energy Perfumery Grade Ethanol Product Offerings
7.6.5 Valero Energy Recent Development
7.7 Tereos
7.7.1 Tereos Company Information
7.7.2 Tereos Introduction and Business Overview
7.7.3 Tereos Perfumery Grade Ethanol Sales, Revenue, Price and Gross Margin (2020-2025)
7.7.4 Tereos Perfumery Grade Ethanol Product Offerings
7.7.5 Tereos Recent Development
7.8 Alto Ingredients
7.8.1 Alto Ingredients Company Information
7.8.2 Alto Ingredients Introduction and Business Overview
7.8.3 Alto Ingredients Perfumery Grade Ethanol Sales, Revenue, Price and Gross Margin (2020-2025)
7.8.4 Alto Ingredients Perfumery Grade Ethanol Product Offerings
7.8.5 Alto Ingredients Recent Development
7.9 Cristalco
7.9.1 Cristalco Company Information
7.9.2 Cristalco Introduction and Business Overview
7.9.3 Cristalco Perfumery Grade Ethanol Sales, Revenue, Price and Gross Margin (2020-2025)
7.9.4 Cristalco Perfumery Grade Ethanol Product Offerings
7.9.5 Cristalco Recent Development
7.10 Cargill
7.10.1 Cargill Company Information
7.10.2 Cargill Introduction and Business Overview
7.10.3 Cargill Perfumery Grade Ethanol Sales, Revenue, Price and Gross Margin (2020-2025)
7.10.4 Cargill Perfumery Grade Ethanol Product Offerings
7.10.5 Cargill Recent Development
7.11 Euro-Alkohol
7.11.1 Euro-Alkohol Company Information
7.11.2 Euro-Alkohol Introduction and Business Overview
7.11.3 Euro-Alkohol Perfumery Grade Ethanol Sales, Revenue, Price and Gross Margin (2020-2025)
7.11.4 Euro-Alkohol Perfumery Grade Ethanol Product Offerings
7.11.5 Euro-Alkohol Recent Development
7.12 Wilmar BioEthanol
7.12.1 Wilmar BioEthanol Company Information
7.12.2 Wilmar BioEthanol Introduction and Business Overview
7.12.3 Wilmar BioEthanol Perfumery Grade Ethanol Sales, Revenue, Price and Gross Margin (2020-2025)
7.12.4 Wilmar BioEthanol Perfumery Grade Ethanol Product Offerings
7.12.5 Wilmar BioEthanol Recent Development
7.13 GPC
7.13.1 GPC Company Information
7.13.2 GPC Introduction and Business Overview
7.13.3 GPC Perfumery Grade Ethanol Sales, Revenue, Price and Gross Margin (2020-2025)
7.13.4 GPC Perfumery Grade Ethanol Product Offerings
7.13.5 GPC Recent Development
7.14 Greenfield
7.14.1 Greenfield Company Information
7.14.2 Greenfield Introduction and Business Overview
7.14.3 Greenfield Perfumery Grade Ethanol Sales, Revenue, Price and Gross Margin (2020-2025)
7.14.4 Greenfield Perfumery Grade Ethanol Product Offerings
7.14.5 Greenfield Recent Development
7.15 Manildra
7.15.1 Manildra Company Information
7.15.2 Manildra Introduction and Business Overview
7.15.3 Manildra Perfumery Grade Ethanol Sales, Revenue, Price and Gross Margin (2020-2025)
7.15.4 Manildra Perfumery Grade Ethanol Product Offerings
7.15.5 Manildra Recent Development
7.16 Alcotra
7.16.1 Alcotra Company Information
7.16.2 Alcotra Introduction and Business Overview
7.16.3 Alcotra Perfumery Grade Ethanol Sales, Revenue, Price and Gross Margin (2020-2025)
7.16.4 Alcotra Perfumery Grade Ethanol Product Offerings
7.16.5 Alcotra Recent Development
7.17 BruggemannAlcohol Heilbronn
7.17.1 BruggemannAlcohol Heilbronn Company Information
7.17.2 BruggemannAlcohol Heilbronn Introduction and Business Overview
7.17.3 BruggemannAlcohol Heilbronn Perfumery Grade Ethanol Sales, Revenue, Price and Gross Margin (2020-2025)
7.17.4 BruggemannAlcohol Heilbronn Perfumery Grade Ethanol Product Offerings
7.17.5 BruggemannAlcohol Heilbronn Recent Development
7.18 Bangkok Alcohol Industrial
7.18.1 Bangkok Alcohol Industrial Company Information
7.18.2 Bangkok Alcohol Industrial Introduction and Business Overview
7.18.3 Bangkok Alcohol Industrial Perfumery Grade Ethanol Sales, Revenue, Price and Gross Margin (2020-2025)
7.18.4 Bangkok Alcohol Industrial Perfumery Grade Ethanol Product Offerings
7.18.5 Bangkok Alcohol Industrial Recent Development
7.19 Zenith Bio Chemical Industries
7.19.1 Zenith Bio Chemical Industries Company Information
7.19.2 Zenith Bio Chemical Industries Introduction and Business Overview
7.19.3 Zenith Bio Chemical Industries Perfumery Grade Ethanol Sales, Revenue, Price and Gross Margin (2020-2025)
7.19.4 Zenith Bio Chemical Industries Perfumery Grade Ethanol Product Offerings
7.19.5 Zenith Bio Chemical Industries Recent Development
7.20 Godavari Biorefineries
7.20.1 Godavari Biorefineries Company Information
7.20.2 Godavari Biorefineries Introduction and Business Overview
7.20.3 Godavari Biorefineries Perfumery Grade Ethanol Sales, Revenue, Price and Gross Margin (2020-2025)
7.20.4 Godavari Biorefineries Perfumery Grade Ethanol Product Offerings
7.20.5 Godavari Biorefineries Recent Development
7.21 SDIC Biotech JILIN
7.21.1 SDIC Biotech JILIN Company Information
7.21.2 SDIC Biotech JILIN Introduction and Business Overview
7.21.3 SDIC Biotech JILIN Perfumery Grade Ethanol Sales, Revenue, Price and Gross Margin (2020-2025)
7.21.4 SDIC Biotech JILIN Perfumery Grade Ethanol Product Offerings
7.21.5 SDIC Biotech JILIN Recent Development
7.22 Anhui Ante Food
7.22.1 Anhui Ante Food Company Information
7.22.2 Anhui Ante Food Introduction and Business Overview
7.22.3 Anhui Ante Food Perfumery Grade Ethanol Sales, Revenue, Price and Gross Margin (2020-2025)
7.22.4 Anhui Ante Food Perfumery Grade Ethanol Product Offerings
7.22.5 Anhui Ante Food Recent Development
7.23 Taicang Xintal Alcohol
7.23.1 Taicang Xintal Alcohol Company Information
7.23.2 Taicang Xintal Alcohol Introduction and Business Overview
7.23.3 Taicang Xintal Alcohol Perfumery Grade Ethanol Sales, Revenue, Price and Gross Margin (2020-2025)
7.23.4 Taicang Xintal Alcohol Perfumery Grade Ethanol Product Offerings
7.23.5 Taicang Xintal Alcohol Recent Development
8 Industry Chain Analysis
8.1 Perfumery Grade Ethanol Industrial Chain
8.2 Perfumery Grade Ethanol Upstream Analysis
8.2.1 Key Raw Materials
8.2.2 Raw Materials Key Suppliers
8.2.3 Manufacturing Cost Structure
8.3 Midstream Analysis
8.4 Downstream Analysis (Customers Analysis)
8.5 Sales Model and Sales Channels
8.5.1 Perfumery Grade Ethanol Sales Model
8.5.2 Sales Channel
8.5.3 Perfumery Grade Ethanol Distributors
9 Research Findings and Conclusion
10 Appendix
10.1 Research Methodology
10.1.1 Methodology/Research Approach
10.1.1.1 Research Programs/Design
10.1.1.2 Market Size Estimation
10.1.1.3 Market Breakdown and Data Triangulation
10.1.2 Data Source
10.1.2.1 Secondary Sources
10.1.2.2 Primary Sources
10.2 Author Details
10.3 Disclaimer

QY Research PVT. LTD.
315 Work Avenue,
Raheja Woods,
6th Floor, Kalyani Nagar,
Yervada, Pune - 411060,
Maharashtra, India
India: (O) +91 866 998 6909
USA: (O) +1 626 295 2442
Email: hitesh@qyresearch.com
Web: www.qyresearch.in

About QY Research
QY Research, founded in 2007, is a leading global market research and consulting firm delivering syndicated and customized research solutions across chemicals, materials, healthcare, electronics, and advanced manufacturing industries. Serving 50,000+ clients in more than 80 countries, QY Research is committed to providing accurate, actionable insights supported by robust research methodologies.

This release was published on openPR.