Ingevity Corp.

What Ingevity Corp. does

Ingevity Corporation is a publicly traded specialty chemicals and materials company (NYSE: NGVT) that was spun off from Eastman Chemical Company in 2016 and is headquartered in North Charleston, South Carolina. The company operates through three reporting segments — Performance Materials (activated carbon technologies for emissions control and filtration, including the Nuchar brand), Pavement Technologies (Evotherm warm mix asphalt additives, pavement preservation emulsifiers, and crop protection dispersants), and Advanced Polymer Technologies (Capa polycaprolactone polymers for adhesives, coatings, polyurethane elastomers, and bioplastics). Its products are largely derived from renewable raw materials including pine-based chemistries, kraft lignin, and caprolactone, and serve industrial end-markets such as automotive gasoline vapor emission control, asphalt paving, agrochemicals, adhesives, coatings, lead acid and emerging batteries, water and food purification, textiles, and bioplastics.

The company's underlying technology platform rests on proprietary pine chemistry (a 100+ year heritage), kraft lignosulfonate production where Ingevity is the world's largest producer, polycaprolactone polymerization with a 40-year commercial history, and wood-based activated carbon manufacturing that has produced canisters used in over 1 billion vehicles since 1975. It complements this base with a licensed carbon nanotube additive platform (NTeC-E from CHASM Advanced Materials) for EV battery applications and an adsorbed natural gas vehicle system (NeuFuel) for lower-pressure RNG fleet use. Manufacturing and R&D footprint spans 17 locations across the United States, the United Kingdom, France, Belgium, China, Japan, Korea, Thailand, India, and Brazil, supported by ISO 9001, NSF/ANSI 61 and 42, Food Chemical Codex, BPI, multiple TUV biodegradability certifications, USDA BioPreferred, and OMRI listings.

Ingevity generates revenue by manufacturing and selling specialty chemicals and materials through a B2B direct sales force with regional technical application engineers, supplemented by channel partners such as Ultrapolymers Group (Europe), TRiiSO LLC (US and Canada), and Cambrian Solutions (Canada). Pricing is quote-based and not publicly disclosed, with contracts and product qualifications typically embedded in customer specifications. Following the 2022 acquisition of Ozark Materials for $325 million, the company is currently executing a portfolio simplification — divesting Ozark Materials to PPG for $65 million (April 2026), selling the North Charleston CTO refinery and Industrial Specialties product line to Mainstream Pine Products for $110 million (January 2026), and exploring strategic alternatives for Advanced Polymer Technologies and the Road Markings business — while investing in battery materials and pursuing a $300 million share buyback through 2027 and approximately $1 billion in targeted deployable cash over the next two years.

Name

Ingevity Corp.

Legal name

Ingevity Corporation

Website

https://ingevity.com

Company type

Public

Founded year

2016

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Ingevity Corporation is a specialty chemicals company spun off from Eastman Chemical in 2016 that produces activated carbon, warm mix asphalt additives, polycaprolactone polymers, and kraft lignin products for industrial customers in automotive emissions, paving, agriculture, adhesives, batteries, and water purification markets worldwide.

Ownership category

akta.pro rank

Product category

Specialty Chemicals

NAICS

Resin and Synthetic Rubber Manufacturing (32521), Adhesive Manufacturing (325520), Resin, Synthetic Rubber, and Artificial and Synthetic Fibers and Filaments Manufacturing (3252), Custom Compounding of Purchased Resins (325991)

SIC

Industrial Organic Chemicals (2860), Plastic Materials, Synth Resins & Nonvulcan Elastomers (2821), Adhesives & Sealants (2891)

akta.pro primary industry

Biochemicals & Bio-based Platform Chemicals (cellulose sugars, lignin derivatives, organic acids) (IMAMALAB)

akta.pro secondary industries

Lignin-based Materials & Carbon Products (binders, resins, carbon fiber/activated carbon) (IMAMALAE), Bio-based & Biodegradable Polymer Resin Manufacturing (PLA, PHA, PBS, PBAT) (IMANANAA), Bio-based Adhesives, Coatings & Sealants (lignin/tannin/soy-based) (IMAMALAG), Bio-based Polymers & Bioplastics (e.g., PLA, PHA, bio-PE/PP/PET, PBS) (EUAAAIAC)

Keywords

• Specialty chemicals manufacturing
• Activated carbon products
• Polycaprolactone polymers
• Warm mix asphalt additives
• Bio-based industrial chemicals

Headquarters

HQ city

North Charleston

HQ country

United States

HQ region

North America

Offices18 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Supply Chain, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Specialty Chemicals Product Sales: Ingevity generates revenue through the manufacture and sale of specialty chemicals, engineered polymers, and activated carbon products to industrial customers across multiple markets including asphalt paving, agrochemicals, adhesives, coatings, automotive, and water treatment.
2. Performance Materials (Activated Carbon): High-performance activated carbon technologies for emissions control and filtration applications.
3. Pavement Technologies: Solutions for high-performance pavement applications including warm mix asphalt additives, emulsifiers, and dispersants for crop protection.
4. Advanced Polymer Technologies: Specialty polymers for coatings and industrial applications, including polycaprolactone-based products.

Go-to-market motion2 records

Distribution channels5 records

Marketing channels8 records

Core offering

Ingevity manufactures and sells specialty chemicals, high-performance activated carbon materials, and engineered polycaprolactone polymers derived largely from renewable pine-based and kraft lignin feedstocks. Its commercial portfolio spans activated carbon products (Nuchar, AquaNuchar) for gasoline vapor emission control, water/food purification, and air intake filtration; Evotherm warm mix asphalt additives and pavement preservation chemicals; Capa polycaprolactone polyols and thermoplastics for adhesives, polyurethane elastomers, coatings, and biodegradable bioplastics; and kraft lignin-based dispersants and battery expanders (Indulin, Polyfon H, Reax, Kraftsperse, Kraftplex).

Product overview

Ingevity is a specialty materials company that provides products and technologies that purify, protect, and enhance the world. The company operates through three reporting segments: Performance Materials (activated carbon technologies for emissions control and filtration), Pavement Technologies (solutions for high-performance pavement applications and dispersants for crop protection), and Advanced Polymer Technologies (specialty polymers for coatings and industrial applications). The product portfolio includes: Capa® family of polycaprolactone-based polyols and thermoplastics for engineered adhesives, polyurethane elastomers, coatings, and bioplastics; Evotherm® warm mix asphalt technology; Nuchar® activated carbon products for gasoline vapor emission control, food/water purification, and industrial applications; Indulin® kraft pine lignin products for batteries and asphalt emulsification; WestRez® bio-based rosin resins for pavement markings; AquaNuchar® powdered activated carbon for water purification; NeuFuel™ adsorbed natural gas vehicle system; and various specialty chemical product lines including EnvaMul®, Diacid 1550™, AltaHance™, AltaOil™, Reax®, Kraftsperse®, Jonrez®, Morlife®, Onyx®, and Peral® for agricultural chemicals, textiles, and industrial applications. The company also acquired and subsequently divested Ozark Materials, a pavement marking materials business. Ingevity's technologies are largely based on renewable raw materials, particularly pine chemistry and kraft lignin processes.

Differentiator

Problem solved

Functional benefit

Brands

• Performance Materials: Activated carbon technologies for emissions control and filtration
• Pavement Technologies
• Advanced Polymer Technologies
• Evotherm
• Capa
• Nuchar
• NeuFuel
• Indulin
• WestRez

Products and services

• Capa® Family Polycaprolactone-based polyols and thermoplastics used in engineered adhesives, polyurethane elastomers, coatings, and bioplastics. Offers multiple grades with processing advantages including various viscosities, high material compatibility, excellent wetting, and long open time, plus certified biodegradability (BPI, TUV OK compost INDUSTRIAL/HOME, OK biodegradable SOIL/MARINE/WATER).
• Evotherm® Revolutionary warm mix asphalt additive that reduces paving temperatures by up to 90 degrees Fahrenheit versus conventional hot mix asphalt. Promotes adhesion by acting as both a liquid antistrip and WMA additive in a pumpable liquid form. Extends the paving season, lowers fuel use, and offsets greenhouse gas emissions by up to 23 times.
• Nuchar® Wood-based activated carbon products for gasoline vapor emission control, air intake systems, water purification, food and chemical processing. Includes Nuchar sheets, granular carbon, shaped carbon, carbon honeycombs (such as Nuchar Standard HCA), and powdered grades. Used in over 1 billion canisters since 1975.
• AquaNuchar® Chemically-activated powdered activated carbon for liquid-phase purification in food, beverage, water, and chemical processing. Used in batch and continuous dosage applications for contaminant removal, taste and odor control, decolorization, and cyanotoxin removal. Many grades meet Food Chemical Codex and are certified NSF/ANSI 61 and 42.
• Indulin® Purified kraft pine lignin products used as organic components in lead acid battery negative plate expanders (Indulin AT), asphalt pavement preservation emulsifiers enabling cold recycling, and various industrial applications. Supports up to 90% GHG emissions reduction and 50% cost savings when used for road recycling.
• WestRez® Bio-based rosin resins (WestRez 5101 and 5206) with more than 80% biobased content from renewable pine trees, used in thermoplastic pavement markings and adhesives. Provides superior adhesion to glass beads, asphalt, and concrete, addressing regulatory pressure to remove petroleum-derived inputs.
• NeuFuel™ Adsorbed natural gas (ANG) vehicle system using activated carbon to condense natural gas at the molecular level, allowing operation at lower pressure than CNG. Designed for light-duty trucks, vans, and diesel vehicles, enabling fleet use of renewable natural gas (RNG) without significant infrastructure investment. Technology acquired from Adsorbed Natural Gas Products, Inc.
• EnvaMul® Emulsifier products for oilfield drilling fluids, providing improved and reliable drilling performance with enhanced drilling rate of penetration, hole stability, and reduced fluid loss. Used by oil and gas operators (e.g., Anchor USA) for innovative drilling fluid product development.
• Diacid 1550™ Bio-based emulsifier used to create stable metalworking fluids with corrosion inhibition. Demonstrated for machining super alloy metals in jet and rocket engine manufacturing, providing dual-action functionality and higher affinity for metal surfaces.
• Polyfon H High-quality, sustainable lignosulfonate-based dispersant used in crop protection formulations. Backed by Ingevity's position as the world's largest producer of kraft lignosulfonates, providing reliable supply and consistent quality for agricultural chemical applications.
• ThermoAccel Thermoplastic Innovative thermoplastic pavement marking that eliminates the need for primer application without sacrificing adhesion. Polymer-based technology offers superior durability and improved long-term retroreflectivity, applied with standard equipment.
• GreenLane Spray Two-component water-based traffic paint system designed for creating MUTCD-specified green-colored pedestrian and bike lanes. Dries within 15 minutes for fast return to traffic, offers skid resistance in dry and wet conditions, and requires no primer.
• AltaHance™ Retention technology for crop protection adjuvants, part of Ingevity's multifunctional adjuvant line supporting formulation of agricultural chemical products.
• AltaOil™ Bio-based oil for biological and conventional pesticide formulations, part of Ingevity's expansion into adjuvants for agrochemical applications.
• Kraftplex® Complex reaction product developed for lead acid battery formulations using sustainable unmodified kraft lignin from Ingevity's kraft chemistry platform.
• Reax® Kraft lignin dispersants (including Reax 81A, 85A, 907, and LS) used in disperse dyes for yarn and beam dyeing processes. Offers over 60 years of industry benchmark performance for heat stability, dye consistency, and reduced exhaust staining in textile applications.
• Kraftsperse® Highly sulfonated kraft lignin dispersants with low molecular weight (including Kraftsperse 1251) designed for textile dye applications, complementing the Reax dispersant family.
• Evoflex® CA Warm mix asphalt additive that maximizes recycled asphalt binder performance, extending the Evotherm family of warm mix technologies to support higher recycled asphalt pavement (RAP) content.
• Jonrez®, Morlife®, Onyx®, and Peral® Specialty Chemical Lines Specialty chemical product lines (Jonrez, Morlife, Onyx, and Peral, including Peral 600 with environmental product declarations) used across industrial applications, including adhesives and coatings.
• Capa® Polyols Premium polycaprolactone polyols for polyurethane coatings and elastomers, offering exceptional hydrolytic stability, high mechanical performance, and processing advantages including low viscosity and narrow polydispersity.
• Capa® 6250 and Capa® 6500D Capa 6250 is a premium-grade, high molecular-weight linear polyester for bioplastics applications. Capa 6500D is a similar high molecular-weight linear polyester with certified biodegradability (OK biodegradable MARINE and WATER), reinforcing Ingevity's world-leading polycaprolactone technology with 40 years of production history.

Quantifiable outcome

• Evotherm warm mix asphalt offsets GHG generated in manufacture by up to 23 times
• +6 more outcomes

Named customers8 records

Segments11 records

Ideal customer profiles7 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

13 partnerships are on record, tiered core, major divestiture, event partner, growth, regional, grant partner and acquisition.

• American Battery Leadership Coalition (ABLC)coreStrategic or Co-development Partner · 18 June 2026Ingevity is a founding member of the American Battery Leadership Coalition (ABLC), an industry group to advance sodium-ion battery technology as a scalable, non-lithium alternative for U.S. energy storage and manufacturing competitiveness. The coalition, chaired by Alsym Energy and vice-chaired by Peak Energy, brings together cell developers, materials suppliers, and manufacturers to advocate for federal policies supporting sodium-ion commercialization.
• PPG Industriesmajor divestitureOthers · 14 April 2026PPG Industries completed its $65 million all-cash acquisition of Ozark Materials, LLC from Ingevity Corporation. Ozark Materials is a U.S.-based pavement marking solutions provider employing approximately 130 people serving customers across the United States and Canada. The acquisition strengthens PPG's Traffic Solutions business.
• Mainstream Pine Products, LLCmajor divestitureOthers · 5 January 2026Ingevity completed the sale of its North Charleston Crude Tall Oil (CTO) refinery assets and majority of its Performance Chemicals Industrial Specialties product line to Mainstream Pine Products, LLC for $110 million in cash with potential additional contingent consideration up to $19 million. This transaction is part of Ingevity's strategic portfolio simplification.
• Gabelli Fundsevent partnerOthers · 8 December 2025Ingevity participated in Gabelli Funds' 17th Annual Specialty Chemicals Symposium in March 2026, presenting at the event featuring presentations from 15 specialty chemicals companies with webcast access for investors.
• CHASM Advanced MaterialscoreTechnology or Integration · 12 November 2025Ingevity signed a license agreement with CHASM Advanced Materials to produce NTeC-E carbon nanotube (CNT) conductive additives for EV battery applications. The agreement covers North America and parts of Europe and builds on a joint development effort initiated in February 2024. The CNTs offer superior conductivity and better capacity retention for battery applications, supporting the expanding EV gigafactory ecosystem.
• GreenGasUSA HoldingsgrowthStrategic or Co-development PartnerIngevity announced a strategic partnership with GreenGasUSA Holdings, a renewable natural gas platform company. The partnership helps expand Ingevity's clean fuel business and enables fleet customers to utilize RNG through the NeuFuel adsorbed natural gas technology.
• Ultrapolymers GroupcoreChannel Partner/ Reseller/ DistributorIngevity partnered with Ultrapolymers Group for European sales of Capa caprolactone bioplastics, expanding distribution coverage for the product line across European markets.
• TRiiSO, LLCcoreChannel Partner/ Reseller/ DistributorIngevity extended its partnership with TRiiSO, LLC to expand Capa distribution footprint for customers in the United States and Canada, providing broader market access for polycaprolactone products.
• Cambrian Solutions (Maroon Group Company)regionalChannel Partner/ Reseller/ DistributorIngevity appointed Cambrian Solutions as distributor for its rosin ester products in Canada, providing local market coverage and customer support for pavement marking and adhesive formulations.
• Ozinga EnergygrowthStrategic or Co-development PartnerIngevity partnered with Ozinga Energy for adsorbed natural gas vehicle technology deployment, enabling fleet customers to utilize the NeuFuel system for RNG-powered transportation.
• Pennsylvania DEPgrant partnerOthersPennsylvania Department of Environmental Protection awarded Ingevity a $3.4 million grant to fund demonstration of 28 adsorbed natural gas-powered trucks and vans with fleet partners across Pennsylvania, supporting NeuFuel technology deployment.
• SoCalGasgrowthStrategic or Co-development PartnerSoCalGas funded demonstration of adsorbed natural gas technology for light-duty trucks, validating NeuFuel technology applications for fleet operations in California.
• Adsorbed Natural Gas Products, Inc.acquisitionOthersIngevity acquired the assets of Adsorbed Natural Gas Products, Inc., securing technology and intellectual property for the NeuFuel adsorbed natural gas vehicle system.

Scale indicators15 records

Recent moves9 records

Expansion highlights5 records

Emerging players

• PPG Industries: PPG recently acquired Ingevity's Ozark Materials pavement marking business for $65M, making it both a customer and competitor in pavement marking, while also being a major coatings end-user for Ingevity's Capa polyols.
• Albemarle Corporation: Albemarle is a specialty chemicals and lithium materials company pivoting into energy storage materials — a direct strategic comparable to Ingevity's CHASM CNT and ABLC sodium-ion moves into the EV battery materials market.

Direct peers

• Cabot Corporation: Cabot is a global producer of specialty carbons and performance materials, directly comparable to Ingevity's Performance Materials segment for activated carbon applications in automotive emissions, water treatment, and industrial filtration.
• Arkema SA: Arkema is a global specialty materials player with a strong position in bio-based polymers, specialty adhesives, and coating materials — directly comparable to Ingevity's Capa polycaprolactone and WestRez rosin resin product lines.
• Ashland Inc. Ashland is a specialty additives and formulations peer with similar B2B go-to-market, comparable product mix in coatings, adhesives, and agricultural formulation aids, and similar end-market exposure to Ingevity's Jonrez and Reax lines.

Broad incumbents

• BASF SE: BASF is the global specialty chemicals leader and the counterparty in the antitrust tying case against Ingevity; it competes with Ingevity across coatings raw materials, additives, and activated carbon and is the benchmark for incumbency in Ingevity's served markets.
• Solvay SA: Solvay is a broad specialty chemicals platform with overlapping positions in advanced materials, performance additives, and bio-based chemistries, making it a relevant peer for Ingevity's Advanced Polymer Technologies and Pavement Technologies segments.
• Eastman Chemical Company: Ingevity was spun off from Eastman Chemical in 2016, and Eastman remains a broad specialty chemicals incumbent with overlapping positions in additives, fibers, and advanced materials — making it the most directly comparable legacy peer for portfolio composition and capital allocation benchmarks.
• Evonik Industries AG: Evonik operates a specialty additives and materials portfolio with direct overlap in polyurethane systems, biopolymers, and high-performance polymer additives — competing with Ingevity's Capa and Indulin product families.
• Westlake Corporation: Westlake is a vertically integrated chemicals and building products company with adjacent specialty materials and a comparable mix of commodity exposure plus differentiated downstream products, providing a relevant valuation and capital allocation comparable.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UC3gCqF-VyGIUb7W1jJPq7UQ
• Facebookfacebook.com/ingevity
• LinkedInlinkedin.com/company/ingevity
• Xx.com/ingevity

Compliance26 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ingevity Corp.