Northern Technologies International Corp (NASDAQ: NTIC)

Northern Technologies International Corporation (NTIC) is a company that operates in the industry of developing and marketing proprietary, environmentally beneficial products and services. With over 65 countries in its reach, NTIC has been a key player in the corrosion prevention market for almost 50 years, selling its proprietary ZERUST products and services to various markets such as automotive, electronics, electrical, mechanical, military, and retail consumer markets.

NTIC's ZERUST corrosion prevention solutions include a range of products such as plastic and paper packaging, liquids, coatings, rust removers, cleaners, and diffusers, as well as engineered solutions designed specifically for the oil and gas industry. The company's products are designed to prevent corrosion and extend the life of metal products and components. In addition, NTIC's Natur-Tec brand offers a range of bioplastic packaging solutions, including bio-based and certified compostable polymer resin compounds and finished products. These products are designed to reduce the environmental impact of traditional plastics and are used in a variety of applications, including packaging, agricultural film, and disposable products.

NTIC's revenue is generated through the sale of its products and services, including ZERUST corrosion prevention solutions and Natur-Tec bioplastic packaging solutions. The company's revenue is affected by a variety of factors, including market demand, competition, and economic conditions. NTIC's key competitors in the corrosion prevention market include other companies that offer similar products and services, such as 3M and AkzoNobel. In the bioplastic market, NTIC competes with other companies that offer bioplastic packaging solutions, such as NatureWorks and Bioplastics.

In recent years, NTIC has experienced significant growth in its revenue and profitability. The company's revenue has increased from $43.4 million in 2018 to $74.1 million in 2022, representing a compound annual growth rate (CAGR) of 12.1%. NTIC's net income has also increased from $2.1 million in 2018 to $6.3 million in 2022, representing a CAGR of 24.1%. NTIC's growth has been driven by a variety of factors, including the increasing demand for corrosion prevention solutions and bioplastic packaging solutions, as well as the company's investments in R&D.

NTIC's R&D efforts have helped to drive innovation and growth in the company's products and services. The company's R&D investments have also helped to improve the environmental sustainability of its products and services, which has helped to attract customers and drive growth. NTIC's commitment to providing a safe and healthy work environment for its employees, along with its dedication to diversity and inclusion, further adds to its appeal as a company.

NTIC's customers include a variety of companies and organizations in the automotive, electronics, electrical, mechanical, military, and retail consumer markets. The company's customers include major automotive companies, such as General Motors and Ford, as well as electronics companies, such as Apple and Samsung. NTIC's products and services are used in a variety of applications, including packaging, agricultural film, and disposable products.