Ingevity Corp.

About Ingevity Corp.

Ingevity Corporation is a global manufacturer of specialty chemicals and high-performance carbon materials, trading on the New York Stock Exchange under the ticker NGVT. The company's roots trace back over a century, originating from the by-products of the papermaking process. It was formally established after spinning off from WestRock's specialty chemicals business, beginning operations as a standalone, publicly traded company in May 2016.

The company's business model is centered on a B2B approach, serving a diverse client base that includes automotive parts manufacturers, construction companies, agricultural firms, and producers of adhesives, coatings, and inks. Ingevity operates through three primary segments: Performance Materials, Performance Chemicals, and Advanced Polymer Technologies. The majority of its revenue is generated in North America.

The Performance Materials segment focuses on engineering and manufacturing hardwood-based, chemically activated carbon products. A key application for these materials is in gasoline vapor emission control systems for vehicles, where the company holds a leading global position with over 750 million units installed. These carbon products are also used for purification in the food, water, and chemical industries.

In the Performance Chemicals segment, Ingevity utilizes pine-based chemicals derived from co-products of the kraft pulping process. These specialty chemicals are applied in road technologies, such as warm-mix asphalt additives that reduce paving temperatures and emissions, and pavement marking materials. Other applications include agrochemical dispersants, adhesives, lubricants, and products for oilfield exploration.

The Advanced Polymer Technologies segment, significantly expanded by the 2019 acquisition of the Capa™ caprolactone business from Perstorp, produces caprolactone-based specialty polymers. These materials are crucial components for creating bioplastics, coatings, adhesives, and elastomers. The Capa thermoplastics are certified as fully biodegradable.

Significant corporate milestones include the 2018 acquisition of Georgia-Pacific's pine chemicals business and the 2022 acquisition of Ozark Materials, a producer of pavement marking materials. These acquisitions have strengthened the Performance Chemicals segment by expanding technology platforms and market reach.