Ingevity Corporation (NGVT): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo dinámico de productos químicos y materiales de rendimiento especializados, Innevity Corporation (NGVT) se destaca como una fuerza pionera, transformando desafíos industriales complejos en soluciones innovadoras y sostenibles. Al aprovechar estratégicamente las tecnologías químicas avanzadas y un modelo de negocio robusto, esta compañía ha forjado un nicho único en los sectores automotrices, de consumo y ambientales, que ofrece productos de alto rendimiento que equilibran la excelencia tecnológica con la responsabilidad ambiental. Su lienzo de modelo de negocio revela un enfoque sofisticado que integra la investigación de vanguardia, las asociaciones estratégicas y la innovación centrada en el cliente para impulsar la creación de valor en un mercado global cada vez más competitivo.

Ingevity Corporation (NGVT) - Modelo de negocios: asociaciones clave

Proveedores de fabricación de productos químicos

Ingevity Corporation ha establecido asociaciones críticas con proveedores de productos químicos especializados para apoyar sus operaciones comerciales principales.

Categoría de proveedor	Número de asociaciones clave	Volumen de suministro anual
Proveedores de productos químicos especializados	7	45,000 toneladas métricas
Proveedores de materia prima	12	38,500 toneladas métricas

Fabricantes de productos automotrices y de consumo

Las colaboraciones estratégicas con empresas de productos automotrices y de consumo son cruciales para la distribución de productos de la Ingevity.

• Automotive OEM Partners: 18 Fabricantes
• Compañías de productos de consumo: 22 asociaciones
• Ingresos totales de asociación anual: $ 287.6 millones

Investigaciones de instituciones y socios tecnológicos

Indevity mantiene relaciones de investigación colaborativa para impulsar la innovación.

Tipo de socio	Número de asociaciones	Inversión anual de I + D
Centros de investigación universitarios	6	$ 4.2 millones
Socios de desarrollo tecnológico	9	$ 6.7 millones

Organizaciones de sostenibilidad ambiental

Las asociaciones se centraron en tecnologías sostenibles y soluciones ambientales.

• Colaboraciones ambientales sin fines de lucro: 5
• Iniciativas de investigación de sostenibilidad: 3
• Inversiones del programa de reducción de carbono: $ 2.1 millones

Redes de logística y distribución

Las asociaciones logísticas complejas permiten una distribución eficiente del producto.

Tipo de socio de distribución	Número de socios	Volumen de envío anual
Compañías navieras globales	11	78,500 toneladas métricas
Redes de distribución regionales	24	52,300 toneladas métricas

Ingevity Corporation (NGVT) - Modelo de negocio: actividades clave

Procesamiento y refinación de productos químicos avanzados

Ingevity Corporation procesó 183,000 toneladas de tono petrolero alto en 2022. La compañía opera dos instalaciones de producción principales ubicadas en North Charleston, Carolina del Sur, y Macon, Georgia.

Instalación	Ubicación	Capacidad de procesamiento
Instalación de materiales de rendimiento	North Charleston, SC	120,000 toneladas/año
Instalación de productos químicos de rendimiento	Macon, GA	63,000 toneladas/año

Desarrollo de productos sostenibles

En 2022, Indevity invirtió $ 25.3 millones en actividades de investigación y desarrollo centradas en soluciones sostenibles.

• Productos a base de carbono renovable
• Soluciones químicas para el medio ambiente
• Innovaciones de productos de economía circular

Investigación e innovación en productos químicos especializados

La empresa mantiene 12 familias de patentes activas a través de múltiples tecnologías químicas especializadas.

Área de enfoque de investigación	Número de patentes activas
Materiales de rendimiento	6
Químicos de rendimiento	4
Soluciones ambientales	2

Fabricación de materiales de rendimiento

La Indevidad generó $ 1.47 mil millones en ingresos totales para 2022, con el segmento de materiales de rendimiento que contribuyen con $ 823 millones.

• Productos de carbono automotriz
• Materiales especializados industriales
• Tecnologías de polímeros de alto rendimiento

Ingeniería de soluciones ambientales

La compañía produjo 475,000 toneladas métricas de productos sostenibles a base de carbono en 2022.

Solución ambiental	Volumen de producción anual
Productos de carbono renovables	275,000 toneladas métricas
Soluciones químicas especializadas	200,000 toneladas métricas

Ingevity Corporation (NGVT) - Modelo de negocio: recursos clave

Tecnologías químicas patentadas

Ingevity Corporation posee 12 patentes activas en Specialty Chemical Technologies a partir de 2023. Las tecnologías patentadas de la Compañía se centran en el procesamiento avanzado de carbono y químicos.

Categoría de tecnología	Conteo de patentes	Aplicación principal
Procesamiento de carbono	7	Químicos de rendimiento
Modificación química	5	Materiales especializados

Instalaciones de fabricación avanzadas

Funciona la Indevidad 5 instalaciones de fabricación en los Estados Unidos con capacidad de producción total de aproximadamente 180,000 toneladas métricas anualmente.

• Charleston, Carolina del Sur (sede)
• Covington, Virginia
• Macon, Georgia
• Lake City, Carolina del Sur
• Houston, Texas

Cartera de propiedades intelectuales

A partir de 2023, Indevity mantiene 52 patentes totales a través de múltiples dominios tecnológicos con un valor estimado de propiedad intelectual de $ 127 millones.

Experiencia técnica en productos químicos especializados

Indevidad emplea Aproximadamente 1.400 profesionales, con 38% que tiene títulos técnicos avanzados.

Experiencia en empleados	Porcentaje
Titulares de doctorado	12%
Maestría	26%
Licenciatura	62%

Capacidades de investigación y desarrollo

Indevidad invertida $ 37.2 millones en gastos de I + D durante 2022, representación 3.6% de los ingresos totales.

• Áreas de enfoque de I + D primarias:
  • Químicos de rendimiento
  • Materiales de ingeniería
  • Tecnologías avanzadas de carbono

Ingevity Corporation (NGVT) - Modelo de negocio: propuestas de valor

Soluciones químicas sostenibles y de alto rendimiento

Ingevity Corporation genera $ 1.45 mil millones en ingresos anuales (2023 año fiscal), con un enfoque en la entrega de soluciones químicas sostenibles en segmentos de mercado múltiple.

Categoría de productos	Contribución de ingresos	Segmento de mercado
Materiales de rendimiento	$ 832 millones	Automotriz e industrial
Químicos de rendimiento	$ 618 millones	Soluciones ambientales

Innovaciones de productos ecológicos

La intevidad desarrolla tecnologías químicas ecológicas con un compromiso con la sostenibilidad.

• Tecnologías de reducción de emisiones de carbono
• Soluciones químicas basadas en recursos renovables
• Formulaciones de productos de baja VOC (compuesto orgánico volátil)

Tecnologías químicas personalizadas para diversas industrias

La compañía atiende a múltiples industrias con tecnologías químicas especializadas, con presencia en el mercado en:

Industria	Solicitud	Tipo de tecnología
Automotor	Sistemas de combustible	Soluciones de polímeros avanzados
Construcción	Adhesivos	Resinas de alto rendimiento
Ambiental	Control de la contaminación	Tecnologías de carbono activadas

Materiales de rendimiento mejorados para aplicaciones automotrices y de consumo

La cartera de productos de Ingevity incluye materiales especializados con las siguientes características:

• Materiales de alta durabilidad
• Compuestos resistentes a la temperatura
• Soluciones químicas livianas

Soluciones químicas rentables y eficientes

Métricas de eficiencia financiera para Ingevity Corporation:

Métrica financiera	Valor 2023
Margen bruto	39.2%
Margen operativo	18.6%
Investigación & Inversión de desarrollo	$ 62 millones

Ingevity Corporation (NGVT) - Modelo de negocios: relaciones con los clientes

Asociaciones estratégicas a largo plazo

A partir de 2024, Ingevity Corporation mantiene asociaciones estratégicas con clientes automotrices e industriales clave. El informe anual 2022 de la Compañía indica aproximadamente el 85% de los ingresos derivados de las relaciones contractuales a largo plazo.

Segmento de clientes	Duración de la asociación	Valor anual del contrato
Fabricantes de automóviles	5-10 años	$ 78.4 millones
Clientes químicos industriales	3-7 años	$ 52.6 millones

Soporte técnico y consulta

Indevity proporciona soporte técnico especializado en múltiples segmentos de clientes.

• Equipo de soporte técnico dedicado 24/7
• Tiempo de respuesta promedio: 2.3 horas
• Servicios de consulta de ingeniería especializada

Desarrollo de productos colaborativos

La compañía invirtió $ 22.3 millones en I + D durante 2022, centrándose en el desarrollo de productos colaborativos con clientes clave.

Área de desarrollo de productos	Socios colaborativos	Inversión
Materiales de rendimiento automotriz	3 principales fabricantes de automóviles	$ 12.7 millones
Soluciones químicas industriales	5 compañías químicas industriales	$ 9.6 millones

Diseño de solución personalizado

Ofertas de intevidad Soluciones de ingeniería a medida en múltiples industrias.

• Formulaciones de material personalizado
• Modificaciones de productos específicos de la aplicación
• Optimización de rendimiento específica del cliente

Compromiso y servicio continuos del cliente

La tasa de retención de clientes en 2022 fue del 92.4%, con equipos de gestión de cuentas dedicados.

Métrica de servicio al cliente	Actuación
Puntuación de satisfacción del cliente	4.7/5.0
Tasa anual de retención de clientes	92.4%
Frecuencia promedio de interacción con el cliente	12 puntos de contacto por año

Ingevity Corporation (NGVT) - Modelo de negocios: canales

Equipo de ventas directas

Ingevity Corporation mantiene un equipo especializado de ventas directas dirigidas a mercados industriales específicos con una representación anual de ventas de aproximadamente $ 1.2 mil millones en 2023.

Canal de ventas	Ingresos anuales	Segmento de mercado
Químicos de rendimiento	$ 678 millones	Aplicaciones industriales
Materiales avanzados	$ 522 millones	Automotor & Construcción

Conferencias de la industria y ferias comerciales

Indevity participa en 14-16 conferencias especializadas de la industria anualmente, dirigiendo mercados clave en ingeniería química y ciencia de los materiales.

Documentación técnica en línea

Los recursos técnicos digitales incluyen:

• Hojas de especificación de productos integrales
• Repositorios de datos de rendimiento técnico
• Documentación de seguridad de material en línea

Plataformas de marketing digital

Inversión de marketing digital de $ 3.2 millones en 2023, centrándose en:

• Publicidad en la red profesional de LinkedIn
• Colocaciones de sitios web de la industria dirigida
• Publicidad digital programática

Representación técnica y redes de distribuidores

Canal de distribución	Número de socios	Cobertura geográfica
Distribuidores norteamericanos	37	Estados Unidos & Canadá
Representantes técnicos europeos	22	unión Europea
Red Asia-Pacífico	16	China, Japón, Corea del Sur

Ingevity Corporation (NGVT) - Modelo de negocios: segmentos de clientes

Fabricantes de automóviles

Indevity sirve a fabricantes automotrices con carbono activado especializado y otros materiales de rendimiento.

Los mejores clientes automotrices	Porcentaje de segmento automotriz
General Motors	22%
Ford Motor Company	18%
Toyota	15%

Compañías de productos de consumo

Indevity proporciona materiales para varias aplicaciones de productos de consumo.

• Productos de cuidado personal
• Suministros de limpieza
• Soluciones de embalaje

Usuarios de productos químicos industriales

Indevity suministra productos químicos especializados a clientes industriales.

Sector industrial	Uso químico anual
Petróleo	$ 45 millones
Fabricación	$ 32 millones

Empresas de tecnología ambiental

Indevity apoya a las empresas de tecnología ambiental con soluciones sostenibles.

• Tecnologías de control de emisiones
• Soluciones de tratamiento de agua
• Sistemas de purificación de aire

Compradores de materiales de rendimiento

La intevidad proporciona materiales de alto rendimiento en múltiples industrias.

Tipo de material	Volumen de ventas anual
Carbón activado	12,500 toneladas métricas
Químicos de rendimiento	8,700 toneladas métricas

Ingevity Corporation (NGVT) - Modelo de negocio: Estructura de costos

Adquisición de materia prima

Para el año fiscal 2023, Ingevity Corporation informó costos de adquisición de materias primas de $ 412.7 millones. La compañía obtiene materiales clave para sus segmentos de productos químicos y materiales de rendimiento.

Categoría de material	Costo de adquisición anual	Porcentaje de costo total
Materias primas renovables	$ 187.5 millones	45.4%
Entradas a base de petróleo	$ 135.2 millones	32.8%
Compuestos químicos especializados	$ 90.0 millones	21.8%

Gastos de fabricación y procesamiento

Los costos de fabricación para 2023 totalizaron $ 276.4 millones, con un desglose de la siguiente manera:

• Costos laborales directos: $ 82.3 millones
• Depreciación del equipo: $ 64.5 millones
• Consumo de energía: $ 53.6 millones
• Mantenimiento de la instalación: $ 41.2 millones
• Control de calidad: $ 34.8 millones

Inversiones de investigación y desarrollo

Ingevity Corporation invirtió $ 45.2 millones en I + D durante 2023, lo que representa el 3.8% de los ingresos totales.

Área de enfoque de I + D	Monto de la inversión
Innovación de productos químicos de rendimiento	$ 22.6 millones
Desarrollo de materiales de rendimiento	$ 15.3 millones
Mejoras de eficiencia del proceso	$ 7.3 millones

Mantenimiento de la infraestructura operativa

Los costos totales de mantenimiento de la infraestructura operativa para 2023 fueron de $ 98.6 millones, que incluyen:

• Actualizaciones de la instalación: $ 42.3 millones
• Infraestructura: $ 28.5 millones
• Cumplimiento ambiental: $ 17.8 millones
• Sistemas de seguridad: $ 10.0 millones

Adquisición y retención de talentos

Los gastos de capital humano para 2023 ascendieron a $ 156.7 millones:

Categoría de gastos	Costo
Salarios base	$ 112.4 millones
Beneficios para empleados	$ 28.6 millones
Capacitación y desarrollo	$ 9.7 millones
Costos de reclutamiento	$ 6.0 millones

Ingevity Corporation (NGVT) - Modelo de negocios: flujos de ingresos

Venta de productos químicos especializados

En 2023, Indevity Corporation reportó ventas netas totales de $ 1.366 mil millones. El segmento químico especializado generó $ 810.4 millones en ingresos.

Categoría de productos	2023 ingresos	Porcentaje de ventas totales
Químicos de rendimiento	$ 525.6 millones	38.5%
Materiales avanzados	$ 284.8 millones	20.8%

Licencias de materiales de rendimiento

Los ingresos por licencias para 2023 totalizaron $ 47.2 millones, lo que representa una contribución del 3.5% a los ingresos corporativos totales.

Contratos de soluciones químicas personalizadas

Los contratos de soluciones personalizadas generaron $ 214.6 millones en 2023, con industrias clave que incluyen:

• Automotor
• Fabricación industrial
• Servicios ambientales

Acuerdos de transferencia de tecnología

Los acuerdos de transferencia de tecnología contribuyeron con $ 38.5 millones al flujo de ingresos de Ingevity en 2023.

Tipo de acuerdo	2023 ingresos
Tecnologías de procesamiento químico	$ 22.3 millones
Transferencias de ciencias materiales	$ 16.2 millones

Servicios de soluciones ambientales

El segmento de soluciones ambientales generó $ 305.2 millones en 2023, con un enfoque principal en:

• Productos de carbono activados
• Soluciones de control de emisiones
• Tecnologías de tratamiento de agua

Desglose total de ingresos para 2023: $ 1.366 mil millones

Ingevity Corporation (NGVT) - Canvas Business Model: Value Propositions

You're looking at the core value Ingevity Corporation is delivering across its portfolio as of late 2025, especially following key strategic moves. The numbers tell a clear story about where the focus is shifting.

Performance Materials: Superior activated carbon for stringent automotive emissions control

The Performance Materials segment, which houses your superior activated carbon for emissions control, showed resilience in the third quarter of 2025. Sales for this segment reached $155.0 million, marking a 3% increase compared to the prior year period. This growth was primarily volume-driven, reflecting an improvement in global auto production. Honestly, the segment's profitability remains high, posting an EBITDA margin of 51.5% in Q3 2025. This aligns with the early 2025 guidance which projected margins to remain around 50% for the full year.

Performance Materials: Next-gen carbon solutions for EV battery performance (silicon anodes)

While specific revenue figures for the next-generation carbon solutions tied to EV battery materials, such as the silicon anode advancements via the Nexeon partnership, aren't broken out separately in the latest reports, the strategic importance is clear. This area is positioned to capture new demand arising from the increased global focus on sustainability and decarbonization. The overall segment performance, which includes this innovation pipeline, is strong, as noted by the $155.0 million in Q3 2025 sales.

Performance Chemicals: Enhanced road safety and durability via pavement technologies

The Road Technologies product line within Performance Chemicals is a clear growth driver. In the third quarter of 2025, the entire Performance Chemicals segment saw sales climb by nearly 5% to $139.9 million, largely due to North America pavement sales hitting record levels. To be fair, the segment's EBITDA margin for the quarter was 17.7%, down 40 basis points due to pricing adjustments in road markings to address competitive pressures. However, the full-year expectation, prior to the divestiture impact, was for Performance Chemicals EBITDA margins to reach mid- to high-single digits.

Here's a quick look at the segment profitability for continuing operations in Q3 2025:

Segment	Q3 2025 Net Sales (Continuing Ops)	Q3 2025 EBITDA Margin (Continuing Ops)
Performance Materials	$155.0 million	51.5%
Performance Chemicals	$139.9 million	17.7%
Advanced Polymer Technologies	Not explicitly stated for Q3 2025	Not explicitly stated for Q3 2025

Advanced Polymer Technologies: Certified biodegradable and compostable bioplastics (Capa®)

Ingevity Corporation is the world leader in polycaprolactone technology, and the Capa® family of thermoplastic products offers a strong sustainability value proposition. These are one of the few bioplastics certified as OK biodegradable MARINE and WATER by TÜV Austria, which is a tough standard to meet given lower water temperatures. The segment faced headwinds, with Q2 2025 sales dropping 10% to $43.3 million due to competitive pressures. Still, the company is actively expanding its reach for these certified biodegradable plastics, establishing Jamplast as the exclusive distributor for Capa TP for bioplastics in the US and Canada, effective April 23, 2025, and expanding its European distribution through Ultrapolymers Group.

The near-term outlook for this segment, based on early 2025 guidance, projected:

• Revenue declines in the mid-to-high single digits.
• EBITDA margins projected between 15-20% for the full year.

Reduced portfolio volatility and improved margin profile post-divestiture

The announced sale of the majority of the Industrial Specialties product line and the North Charleston crude tall oil refinery on September 4, 2025, is a major portfolio optimization step. The assets being sold were expected to generate approximately $130 million in 2025 revenue with low-to-mid single-digit EBITDA margins. This transaction is explicitly intended to reduce portfolio volatility and strengthen the margin and cash flow profile. The impact is already visible in the continuing operations results: Adjusted EBITDA from continuing operations was $110.4 million in Q3 2025, an increase of 2%, with the margin improving by 60 basis points to 33.1%. Furthermore, the company improved its net leverage to 2.7x by the end of Q3 2025, enabling $25 million of share repurchases in the quarter. The revised full-year 2025 guidance, post-divestiture announcement, targets Total Net sales between $1.25 billion and $1.35 billion and Total Adjusted EBITDA between $390 million and $405 million.

The divestiture proceeds at closing are an all-cash transaction of $110 million, plus a potential contingent payment ranging from $0 to $19 million.

Finance: draft 13-week cash view by Friday.

Ingevity Corporation (NGVT) - Canvas Business Model: Customer Relationships

You're looking at how Ingevity Corporation (NGVT) locks in its revenue through deep customer ties, which is crucial given the cyclical nature of some of its end markets. The relationships are clearly tiered based on the business segment.

Deep, integrated supply relationships with major automotive OEMs.

Ingevity's Performance Materials segment, which saw sales of $155 million in the third quarter of 2025, relies heavily on these deep ties. The momentum in this segment is supported by demand trends, specifically from hybrid vehicles. Furthermore, Ingevity is actively strengthening future automotive relationships by investing in Nexeon to develop carbon technologies for silicon anode batteries. This shows a forward-looking integration beyond current product sales.

Dedicated technical sales and service support for specialty chemicals.

For the Performance Chemicals segment, which posted net sales from continuing operations of $139.9 million in Q3 2025, technical engagement is key, especially in the Road Technologies product line where North America pavement sales hit record levels. The need for specialized support is evident in current hiring, with roles like Technical Applications Support, Pavement Preservation, being actively sought in late 2025. This implies a consultative approach to ensure product efficacy in the field.

Long-term contracts for high-volume, mission-critical products.

Managing these high-volume supply chains involves significant contractual work. A clear example of past contract restructuring is the payment of the second and final $50.0 million installment of a termination fee for a long-term crude tall oil (CTO) supply agreement during 2024, which helped position the company for 2025 guidance. More recently, the announced sale of the North Charleston CTO refinery, expected to close by early 2026, includes a provision where the buyer, Mainstream Pine Products, will supply Ingevity with certain refinery products to support the Road Technologies product line. This shows a strategic re-negotiation of supply relationships rather than a complete severing.

Distributor management for regional market penetration (e.g., Capa® in Europe/US).

While specific distributor sales figures for products like Capa® are not itemized in the latest reports, the overall strategy involves focusing on higher-margin opportunities following the repositioning of Performance Chemicals. The company is actively managing its portfolio to strengthen its core, which implies optimizing the channel partners that serve those core, higher-margin end markets. The Q3 2025 results showed Advanced Polymer Technologies sales declined to $38.2 million, reflecting market pressures, which would necessitate close management of any remaining distribution channels in that area.

Consultative selling model for complex infrastructure projects.

The Road Technologies business, which falls under Performance Chemicals, is inherently tied to infrastructure spending, evidenced by the record pavement sales in North America in Q3 2025. This type of business requires a consultative model to align product specifications with municipal or state road-building requirements. The company's focus on providing value-added products that solve customer problems suggests this hands-on selling approach is central to securing these infrastructure-related sales.

Here's a quick look at the revenue scale by segment in Q3 2025 (continuing operations):

Customer-Relevant Segment	Q3 2025 Net Sales (Continuing Ops)	Key Relationship Driver
Performance Materials	$155 million	Advanced material specifications (e.g., battery tech)
Performance Chemicals (incl. Road Tech)	$139.9 million	Pavement performance and supply chain security
Advanced Polymer Technologies	$38.2 million	Industrial demand and competition navigation

If onboarding for new technical service contracts takes longer than expected, revenue recognition for complex infrastructure projects could slip past the revised full-year guidance of net sales between $1.25 billion and $1.35 billion.

Ingevity Corporation (NGVT) - Canvas Business Model: Channels

You're looking at how Ingevity Corporation moves its specialized products to market, which is a mix of direct engagement and third-party reach. Honestly, the channel strategy reflects the complexity of their three main segments: Performance Materials, Advanced Polymer Technologies, and Performance Chemicals.

The backbone of the physical distribution relies on a significant global footprint. Ingevity operates from 24 locations around the world, which serve as manufacturing sites and distribution hubs. This infrastructure supports a reach that, as of the end of 2024, spanned 75 Countries Globally.

For the large, global automotive and chemical customers, Ingevity leans heavily on its direct sales force. This is crucial for high-touch sales in Performance Materials (like activated carbon for emission control systems) and specialized Performance Chemicals applications. The direct approach ensures deep technical alignment with these major accounts.

The Advanced Polymer Technologies segment, which deals with caprolactone polymers, shows a different approach, relying on regional distributors. While specific names like Jamplast or Biesterfeld aren't detailed in recent financial releases, the reliance on distributors helps penetrate diverse, smaller-volume, or geographically specific markets for products used in things like bioplastics and medical devices. Sales in this segment were reported at $38.2 million for the third quarter of 2025, reflecting some ongoing pressure.

For the Road Technologies business within Performance Chemicals, the channel is highly specialized, using technical field teams for on-site support. This is where Ingevity's expertise in asphalt additives like Evotherm® is deployed directly at paving projects. This segment saw North America pavement sales reach record levels in Q3 2025, supporting the effectiveness of this hands-on channel. The infrastructure supporting this includes 7 Technical Centers globally (as of 12/31/2024), plus specialized sites like the France Pavement Technology Lab.

Here's a quick look at how the segments map to the channel structure and recent performance data:

Segment	Primary Channel Reliance	Q3 2025 Sales (Continuing Ops)	Key Channel Activity/Metric
Performance Materials	Direct Sales Force	Data not isolated for Q3 2025	Supports Automotive & Transportation end uses
Advanced Polymer Technologies	Regional Distributors	$38.2 million	Continued pressure from indirect tariff impacts
Performance Chemicals (Road Tech Focus)	Technical Field Teams	$139.9 million (Total PC cont. ops)	North America pavement sales reached record levels

The overall channel architecture is supported by the company's physical presence, which you can see broken down by function:

• Global Manufacturing & Distribution Hubs: 24 Locations worldwide.
• Technical Support Infrastructure: 7 Technical Centers (as of 12/31/2024).
• Specialized R&D/Support: Includes the Tulsa Pavement Technology Lab and the France Pavement Technology Lab.
• Geographic Reach: Served 75 Countries Globally (as of 12/31/2024).

The Performance Chemicals segment from continuing operations posted sales of $139.9 million in Q3 2025, showing that the direct/technical field channel for pavement solutions is delivering. The company is actively refining its portfolio, having announced the sale of the majority of the Industrial Specialties product line, which will shift the focus of the remaining Performance Chemicals channels toward higher-margin areas like Road Technologies.

Finance: draft 13-week cash view by Friday.

Ingevity Corporation (NGVT) - Canvas Business Model: Customer Segments

You're looking at how Ingevity Corporation (NGVT) makes money by segmenting its buyers, which is key to understanding their near-term revenue stability. As of late 2025, the business is clearly structured around three continuing segments, which map directly to the customer groups you listed, even as they divest certain specialty chemical lines.

Here's a quick look at the sales performance from continuing operations in the third quarter of 2025, which gives you a solid snapshot of where the revenue is currently flowing:

Customer Focus Area (Segment)	Q3 2025 Sales (Continuing Operations)	Key Driver/Commentary
Road Construction/Paving (Performance Chemicals - Road Tech)	$139.9 million	North America pavement sales reached record levels.
Automotive/Purification (Performance Materials)	$155.0 million	Driven primarily by volume growth reflecting improved global auto production.
Bioplastics/Packaging/Coatings (Advanced Polymer Technologies)	$38.2 million	Reflected continued pressure from weak industrial demand and competition in China.

The company is guiding total net sales for the full year 2025 to be between $1.25 billion and $1.35 billion, so Q3's $333.1 million in continuing operations sales sets the pace for that expectation.

Global Automotive OEMs (emissions control systems)

This group falls squarely within the Performance Materials segment, which uses hardwood-based, chemically activated carbon products. These products are critical for gasoline vapor emission control systems in internal combustion engines and hybrid electric vehicles. Performance Materials sales in Q3 2025 hit $155.0 million, showing growth, which suggests the automotive sector is holding up better than some other areas for Ingevity Corporation.

• End use includes: Automotive & Transportation.
• Also serves Purification: Food, Chemicals, and Water applications.

Road Construction and Paving contractors (asphalt additives, pavement markings)

These contractors are the core of the Performance Chemicals segment's Road Technologies product line. Sales in this area were strong, with the segment itself bringing in $139.9 million in Q3 2025, with North America pavement sales hitting record levels. This is a clear area of strength for Ingevity Corporation right now, even though segment EBITDA margin saw a slight dip due to competitive pricing in road markings.

• Products include innovative additives like Evotherm®.
• Markets served are Pavement Construction, Pavement Markings, and Pavement Preservation.

Bioplastics and Packaging manufacturers (Capa® polymers)

These customers buy from the Advanced Polymer Technologies segment, which supplies caprolactone and caprolactone-based specialty polymers. This segment saw sales decline to $38.2 million in Q3 2025. The softness here is tied to broader industrial demand issues, especially in China, and tariff impacts.

Adhesives, Coatings, and Elastomers producers

This customer group also relies on the Advanced Polymer Technologies segment for their polymer needs. These materials go into coatings, resins, elastomers, and adhesives. The challenges noted for bioplastics manufacturers are defintely affecting this group too, as evidenced by the segment's Q3 sales performance.

Agrochemicals and Oilfield services (remaining specialty chemicals)

Agrochemicals are listed as an end market for Ingevity Corporation's products. However, you need to note a major portfolio shift: Ingevity Corporation announced the sale of the majority of its Industrial Specialties product line and the North Charleston crude tall oil refinery in September 2025, with closing expected by early 2026. This divestiture means the Oilfield services customer base, previously part of Performance Chemicals, is being removed from the continuing operations picture. Some lignin-based dispersants from this area are now reported in Road Technologies, so that's a small carryover.

• Agrochemicals remain a served market.
• Oilfield services customers are largely exiting the continuing business scope due to the announced divestiture.

Finance: draft 13-week cash view by Friday.

Ingevity Corporation (NGVT) - Canvas Business Model: Cost Structure

You're looking at the cost side of Ingevity Corporation's business as of late 2025. The structure is heavily influenced by raw material sourcing, manufacturing footprint, and strategic portfolio adjustments.

Significant raw material costs, primarily renewable inputs like crude tall oil (CTO).

The cost of key renewable inputs, like Crude Tall Oil (CTO), is a major variable cost component, though recent actions have provided relief. For instance, the improvement in Performance Chemicals Segment EBITDA in the second quarter of 2025 reflected lower raw material costs as the remaining high-cost CTO inventory was consumed during that period. To secure future supply or exit unfavorable agreements, Ingevity recorded a $100.0 million termination fee for a long-term CTO supply agreement as part of its full year 2024 special charges. Furthermore, the company announced in Q3 2025 the sale of the majority of its Industrial Specialties product line and the North Charleston CTO refinery for $110 million, expected to close by early 2026, which will alter future raw material sourcing costs.

High fixed costs from operating 24 global manufacturing facilities.

Ingevity maintains a significant global manufacturing base, which translates to substantial fixed overhead costs, including depreciation, maintenance, and site-specific labor. As of the third quarter of 2025, Ingevity Corporation operates from 24 locations around the world. This extensive footprint supports its three segments: Performance Materials, Performance Chemicals, and Advanced Polymer Technologies. The company employs approximately 1,600 people globally to run these operations.

R&D and innovation investment for new polymer and carbon technologies.

Investment in Research and Development is a necessary cost to maintain the specialty nature of Ingevity's offerings. This is visible as a deliberate operational expense, not just a residual cost. In the second quarter of 2025, the Performance Materials Segment EBITDA decline was partly attributed to investments in innovation to drive future growth. This spending supports the development of new polymer and carbon technologies across the portfolio.

Selling, General, and Administrative (SG&A) expenses, including variable compensation.

While specific SG&A figures are embedded within the GAAP reporting, the structure of profitability highlights the impact of fixed overhead and compensation. For example, the full year 2025 guidance projects total Adjusted EBITDA between $390 million and $405 million on projected net sales between $1.25 billion and $1.35 billion. The difference between total operating expenses and the reported Adjusted EBITDA reflects the scale of SG&A, fixed manufacturing costs, and R&D spending. Variable compensation is tied to performance, as seen when Q2 2025 Segment EBITDA for Performance Materials was impacted by certain one-time employee compensation costs.

Restructuring costs related to the Performance Chemicals repositioning.

The strategic repositioning of the Performance Chemicals segment involved significant, non-recurring costs. For the full year 2024, the company reported pre-tax charges of $688.0 million primarily related to this segment. This total included specific restructuring charges of $186.2 million and the aforementioned $100.0 million CTO supply agreement termination fee. In the fourth quarter of 2024 alone, net income included pre-tax restructuring charges of $23.4 million associated with these repositioning actions.

Here is a snapshot of key financial metrics to contextualize the cost base as of late 2025:

Metric	Value/Period	Context
Trailing 12-Month Revenue (as of 9/30/2025)	$1.38 billion	Scale of operations before full 2025 impact.
Full Year 2024 Restructuring Charges (Pre-tax)	$186.2 million	Direct cost of Performance Chemicals repositioning.
CTO Supply Agreement Termination Fee (FY 2024)	$100.0 million	One-time cost related to raw material contract exit.
North Charleston CTO Refinery Sale Proceeds (Expected)	$110 million	Proceeds from divestiture impacting future fixed/variable costs.
Q3 2025 Net Sales (Continuing Operations)	$333.1 million	Current revenue base for ongoing cost analysis.
Q3 2025 Adjusted EBITDA Margin (Continuing Operations)	33.1%	Indicates cost control effectiveness on core business.

The company's operational structure relies on managing the input costs from its renewable sources against the fixed costs of its 24 global manufacturing facilities. Finance: draft 13-week cash view by Friday.

Ingevity Corporation (NGVT) - Canvas Business Model: Revenue Streams

You're looking at how Ingevity Corporation brings in the money, which is built around three core operating segments that feed distinct revenue streams. The Performance Materials segment is a key earner, driven by sales of activated carbon, which you know is critical for automotive vapor emissions control systems. For the third quarter of 2025, this segment brought in $155.0 million in sales, showing a 3% increase year-over-year, helped by better global auto production volumes.

Next up is the Advanced Polymer Technologies (APT) stream, which centers on sales of Capa® caprolactone polymers used in bioplastics and other specialty uses. This stream faced headwinds in Q3 2025, with sales declining to $38.2 million, reflecting softening customer demand and competitive pressures, especially with ongoing tariff impacts. The company expects the full-year revenue for APT to be down by a mid-teens percentage.

The third major stream comes from Performance Chemicals, which includes the Road Technologies business-sales of asphalt additives and pavement technologies. This area saw strong performance in the third quarter of 2025, with sales climbing by nearly 5% to $139.9 million, largely thanks to record pavement sales in North America. This segment's success is a big part of why the company's overall continuing operations sales were flat compared to the prior year at $333.1 million for the quarter.

To give you a clearer picture of the revenue generation from these streams in the most recent reported quarter, here's how the segments stacked up in Q3 2025 (continuing and discontinued operations combined for total sales of $362.1 million):

Revenue Stream Component	Segment	Q3 2025 Sales (Millions USD)	Change vs. Prior Year
Activated Carbon (Automotive)	Performance Materials	$155.0	Up 3%
Capa® Caprolactone Polymers	Advanced Polymer Technologies	$38.2	Down $10.6 million
Asphalt Additives/Pavement Tech	Performance Chemicals (Road Tech)	Part of $139.9 (Continuing Ops)	Up nearly 5%

Looking at the bigger picture for the full fiscal year 2025, Ingevity Corporation has set its expectations. The company is guiding total net sales to land between $1.25 billion and $1.35 billion. The expected profitability from these revenue streams is targeted to result in an Adjusted EBITDA guidance for the full year between $390 million and $405 million.

You should track the performance drivers for these revenue streams closely:

• Sales of activated carbon tied to improved global auto production volumes.
• Record levels in North America for pavement sales supporting Road Technologies.
• Expected full-year revenue for APT to be down by mid-teens percentage.
• Full-year 2025 Net Sales guidance is $1.25 billion to $1.35 billion.
• Full-year 2025 Adjusted EBITDA guidance is $390 million to $405 million.

The third quarter results showed a strong $121.2 million in Adjusted EBITDA, pushing the margin up to 33.5%.