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