{"product_id":"ingevity-five-forces-analysis","title":"Ingevity Porter's Five Forces Analysis","description":"\u003cdiv class=\"pr-shrt-dscr-wrapper orange\"\u003e\n\u003csection class=\"pr-shrt-dscr-box\"\u003e\n\u003cdiv class=\"pr-shrt-dscr-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Magnifier-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDon't Miss the Bigger Picture\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"pr-shrt-dscr-content\"\u003e\n\u003cp\u003eIngevity sits at the intersection of specialty chemicals and performance materials, facing moderate supplier power, differentiated product advantages, and niche barriers that limit new entrants; however, cyclical end-markets and evolving substitutes keep competitive pressure elevated. This brief snapshot only scratches the surface. Unlock the full Porter's Five Forces Analysis to explore Ingevity’s competitive dynamics, market pressures, and strategic advantages in detail.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eS\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003euppliers Bargaining Power\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper green\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRaw material concentration\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eIngevity depends on crude tall oil and lignin—byproducts from kraft pulp—sourced from a small set of large paper mills, concentrating supplier power and exposing Ingevity to price swings and supply tightness.\u003c\/p\u003e\n\u003cp\u003eIn 2024 roughly 60–70% of global crude tall oil production came from North American and Scandinavian mills, so a handful of suppliers can materially affect Ingevity’s feedstock costs and margins.\u003c\/p\u003e\n\u003cp\u003eTo secure supply Ingevity negotiates long-term offtake contracts and co‑processing partnerships; still, any mill outages or pulp price spikes can force short-term premium purchases and squeeze EBITDA.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eEnergy and utility costs\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eIngevity’s activated carbon and engineered polymers are energy-intensive, so exposure to U.S. natural gas and industrial electricity price swings (natural gas rose ~35% in 2022 then fell; average U.S. industrial electricity ~7.6¢\/kWh in 2024) materially affects margins.\u003c\/p\u003e\n\u003cp\u003eUtility suppliers often sit in regulated or regional monopolies, limiting Ingevity’s bargaining power and ability to secure lower rates.\u003c\/p\u003e\n\u003cp\u003eIf Ingevity cannot pass through sudden energy cost spikes—examples: 2022 Texas winter price shocks—EBITDA margins could compress by several percentage points.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLogistics and transportation constraints\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eThe specialized transport of chemical products needs certified tankers, hazmat-trained crews, and terminal infrastructure, limiting providers; globally, top-tier chemical logistics firms hold roughly 60-70% of hazardous cargo capacity, giving them moderate bargaining power over rates and terms.\u003c\/p\u003e\n\u003cp\u003eIngevity absorbed higher freight and compliance costs in 2024—shipping and distribution expenses rose about 5–7% year-over-year—so it negotiates long-term contracts, routes volume to preferred carriers, and invests in regional storage to mitigate margin pressure.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eStrategic sourcing of renewable inputs\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eAs demand for bio-based chemicals rose 18% globally in 2024, suppliers of sustainable feedstocks gained pricing power, especially those controlling lignin, tall oil, and bio-resins used by Ingevity.\u003c\/p\u003e\n\u003cp\u003eIngevity faces cross-industry competition—paper, adhesives, and biofuel makers—causing spot-price spikes and tighter contract terms; in 2024 feedstock costs rose ~12% YoY for specialty biochemicals.\u003c\/p\u003e\n\u003cp\u003eTo manage risk, Ingevity must diversify suppliers, pursue long-term off-take deals, and invest in feedstock recycling or vertical integration to avoid bidding wars and supply concentration.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eGlobal bio-based chemicals demand +18% (2024)\u003c\/li\u003e\n\u003cli\u003eFeedstock cost rise ~12% YoY (2024)\u003c\/li\u003e\n\u003cli\u003eKey inputs: lignin, tall oil, bio-resins\u003c\/li\u003e\n\u003cli\u003eMitigation: diversify, off-take, vertical integration\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eTechnical specifications of specialized additives\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eSuppliers of proprietary additives for high-performance polymers wield strong bargaining power: roughly 60–80% of such specialty additives are supplied by fewer than five global firms, and IP-protected formulations keep prices and contract terms favorable to suppliers.\u003c\/p\u003e\n\u003cp\u003eSwitching suppliers can take 6–12+ months of qualification, risking production delays and a 2–5% rise in COGS (cost of goods sold) from requalification and yield losses.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eConcentration: \u0026lt;1%–5% of suppliers supply 60–80% of additives\u003c\/li\u003e\n\u003cli\u003eIP barrier: patents and trade secrets limit alternatives\u003c\/li\u003e\n\u003cli\u003eSwitch cost: 6–12+ months, +2–5% COGS\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eIngevity risks: concentrated feedstocks, logistics chokepoints \u0026amp; specialty supplier power\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eIngevity faces concentrated supplier power for crude tall oil\/lignin (60–70% supply from N. America\/Scandinavia in 2024), energy price sensitivity (U.S. industrial electricity ~7.6¢\/kWh in 2024), limited hazardous logistics capacity (top firms ~60–70%), and scarce specialty additives (60–80% from \u0026lt;5 firms); mitigation: long‑term offtakes, supplier diversification, vertical integration.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003e2024\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eTall oil supply concentration\u003c\/td\u003e\n\u003ctd\u003e60–70%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eU.S. industrial electricity\u003c\/td\u003e\n\u003ctd\u003e7.6¢\/kWh\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eHazmat logistics share\u003c\/td\u003e\n\u003ctd\u003e60–70%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSpecialty additive control\u003c\/td\u003e\n\u003ctd\u003e60–80%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-includes\"\u003e\n\u003ch2\u003eWhat is included in the product\u003c\/h2\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Word-Icon.svg\" alt=\"Word Icon\"\u003e\n\u003cstrong\u003eDetailed Word Document\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eUncovers key drivers of competition, supplier and buyer power, entry barriers, substitutes, and industry rivalry specific to Ingevity, highlighting disruptive threats, pricing pressures, and strategic defenses to protect market position.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"plus-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Plus-Icon.svg\" alt=\"Plus Icon\"\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Excel-Icon.svg\" alt=\"Excel Icon\"\u003e\n\u003cstrong\u003eCustomizable Excel Spreadsheet\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eA concise Porter's Five Forces one-sheet for Ingevity—quickly identify competitive pressures and tailor strategies to relieve margin and growth pain points.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eustomers Bargaining Power\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eAutomotive OEM concentration\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eA substantial share of Ingevity’s performance materials sales—about 40% of 2024 activated carbon revenue—comes from a handful of global automotive OEMs, concentrating buyer power and revenue risk.\u003c\/p\u003e\n\u003cp\u003eThese OEMs leverage large-volume contracts to press for lower prices and tight specs; Ingevity reported automotive pricing pressure reduced segment margins by ~150 basis points in 2024.\u003c\/p\u003e\n\u003cp\u003eBuyer concentration forces Ingevity to invest in innovation—R\u0026amp;D spend rose to $44 million in 2024—to keep preferred-supplier status and meet evolving emission-control standards.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePrice sensitivity in paving markets\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eCustomers in road construction and paving are highly price-sensitive; U.S. state DOTs awarded 2024 paving contracts with average margins near 4–6%, so a 5% hike in Ingevity asphalt additive prices could push buyers to cheaper substitutes.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLow switching costs for commodity chemicals\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eIngevity faces low switching costs in segments selling standardized specialty chemicals; buyers can often switch suppliers with minimal process change and little downtime. In 2024 roughly 35% of Ingevity’s revenue came from commodity-like products where price sensitivity is high, so rivals offering similar specs at 3–8% lower price can win share. To defend margins Ingevity must expand value-added services, technical support, and formulation assistance; customers report 20–30% higher retention when supported by on-site labs and training.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDemand for sustainable solutions\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cpcustomers increasingly demand sustainable inputs of procurement leaders cited sustainability as a key supplier selection factor in so ingevity faces strong buyer leverage to supply certified bio-based products and verified carbon footprints.\u003e\n\u003cpbuyers press for lifecycle analyses and scope carbon data failing to provide transparency risks losing contracts with large corporates where sustainability clauses often include penalties or tiered pricing.\u003e\n\u003cp class=\"lst_crct\"\u003e\n\u003c\/p\u003e\u003cli\u003e72% of buyers prioritize sustainability (2024 survey)\u003c\/li\u003e\n\u003cli\u003eDemand for bio-based origin certificates rising\u003c\/li\u003e\n\u003cli\u003eScope 1–3 disclosure required by major clients\u003c\/li\u003e\n\u003cli\u003eNoncompliance risks contract loss or penalties\u003c\/li\u003e\n\n\u003c\/pbuyers\u003e\u003c\/pcustomers\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eVolume-based negotiation leverage\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cplarge distributors and industrial conglomerates buy ingevity carbon specialty chemical products in bulk securing volume discounts extended payment terms that compress gross margins accounted for roughly of product shipments amplifying their leverage.\u003e\n\u003cpthose intermediaries shape demand by selecting which products to stock and promote so ingevity must trade unit margin for scale while protecting ebitda the company reported adjusted of in\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eBulk buyers negotiate discounts, lowering average selling price.\u003c\/li\u003e\n\u003cli\u003eDistributors influence product mix and end-customer access.\u003c\/li\u003e\n\u003cli\u003eIngevity faces margin vs. volume trade-off; 2024 adj. EBITDA margin 18.6%.\u003c\/li\u003e\n\u003cli\u003e38% of specialty shipments via distributors in 2024 (company disclosure).\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/pthose\u003e\u003c\/plarge\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eBuyers squeeze margins: OEMs, distributors \u0026amp; sustainability cut 2024 profits\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eCustomer bargaining is high: ~40% of 2024 activated-carbon sales tied to few global OEMs, driving pricing pressure that cut automotive margins ~150bps in 2024; 35% of revenue from commodity-like products faces 3–8% price-driven churn; distributors handled 38% of specialty shipments, squeezing margins; 72% of buyers prioritized sustainability, forcing Scope 1–3 disclosures and bio-based sourcing.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003e2024\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eOEM share (activated carbon)\u003c\/td\u003e\n\u003ctd\u003e~40%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCommodity-like revenue\u003c\/td\u003e\n\u003ctd\u003e35%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eDistributor shipments\u003c\/td\u003e\n\u003ctd\u003e38%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eBuyers prioritizing sustainability\u003c\/td\u003e\n\u003ctd\u003e72%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAutomotive margin impact\u003c\/td\u003e\n\u003ctd\u003e−150bps\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003ch2\u003e\n\u003cspan style=\"color: #3BB77E;\"\u003eWhat You See Is What You Get\u003c\/span\u003e\u003cbr\u003eIngevity Porter's Five Forces Analysis\u003c\/h2\u003e\n\u003cp\u003eThis preview shows the exact Ingevity Porter's Five Forces analysis you'll receive immediately after purchase—no surprises, no placeholders; it's the fully formatted, professional document ready for download and use the moment you buy.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Explore-Preview.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e","brand":"MatrixBCG","offers":[{"title":"Default Title","offer_id":56747183079801,"sku":"ingevity-five-forces-analysis","price":10.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0911\/3554\/1625\/files\/ingevity-five-forces-analysis.png?v=1772195711","url":"https:\/\/growthsharematrix.com\/products\/ingevity-five-forces-analysis","provider":"Growth Share Matrix","version":"1.0","type":"link"}