Garware Polyester, a manufacturer of polyester and sun control films in India, has commenced the production of paint protection films for automobiles. Currently, paint protection films have an estimated global market size of US$ 500 million (Rs. 3,680 crore) and is dominated by global giants like 3M, Llumar, XPEL and others.
A paint protection film is designed to give automobile paint coatings protection and impact resistance. These films are clear and self-healing. These films are claimed to extend the life of the paint coating on vehicles. The paint protection film is manufactured using thermoplastic polyurethane film (TPU) and is claimed to protect the vehicle’s paint from scratches, dents and damage caused by road debris and rocks, as well as from environmental elements, through its force-dissipation properties.
The company estimates paint protection films to contribute 20% of FY23 revenue estimated at an incremental Rs. 300 crore. The company also claims that the film will also be more competitively priced than those available in the Indian market today.
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