Garware Hi-Tech Films Limited (GHFL), a specialty films manufacturer, and Lubrizol, a global specialty chemicals company, have signed a Memorandum of Understanding (MoU) to collaborate on the development and manufacturing of advanced Thermoplastic Polyurethane (TPU) film solutions in India. The partnership will combine Lubrizol’s TPU technology and material science expertise with GHFL’s engineering, processing and manufacturing capabilities. The companies will work on localising premium Paint Protection Film (PPF) inputs while developing new TPU-based products for automotive, architectural, industrial, electronics and other specialty applications.
The collaboration is part of GHFL’s plans to develop a technology-led TPU product platform in India. The company will establish dedicated TPU film extrusion capabilities to support product development, prototyping and commercial production. The facility is expected to help GHFL respond more quickly to changing customer requirements and expand its presence in new specialty film applications.
GHFL plans to invest approximately ₹118 crore in the TPU film extrusion and manufacturing platform. Nearly 25% of the investment is expected to be allocated towards new product development and technology capabilities. The facility is expected to be operational by December 2026.
The partnership will also strengthen GHFL’s backward integration in its premium PPF business. The planned facility is expected to be India’s first dedicated TPU extrusion platform for premium PPF and will support GHFL’s expansion of PPF manufacturing capacity to more than 600 LSF.
In-house TPU extrusion is expected to give GHFL greater control over a key raw material, improve product consistency and manufacturing efficiency, strengthen supply-chain resilience and reduce dependence on imported TPU films. Greater integration between TPU processing and PPF manufacturing is also expected to support faster product development and commercialisation.
The initiative is expected to improve the economics of the PPF business and contribute to an estimated 150-200 basis point improvement in consolidated EBITDA margins. The premium PPF market is supported by increasing premium vehicle ownership, greater consumer awareness and the growth of automotive detailing and customisation networks.
Monika Garware, Joint Managing Director and Vice Chairperson, GHFL, said, “This association marks a significant milestone in GHFL’s journey towards building a globally competitive, technology-led specialty films business. This collaboration gives us the opportunity to develop new, high-value products across multiple specialty applications, while also strengthening our backward integration in PPF. By combining Lubrizol’s world-class TPU technology with GHFL’s engineering and manufacturing capabilities, we aim to accelerate innovation and build differentiated solutions for the Indian and global markets.”
Deepak Joshi, Director – Sales & Marketing, GHFL, said the company’s ₹118 crore investment in TPU film extrusion and manufacturing capabilities, along with the expansion of PPF capacity, will strengthen its technology-driven portfolio. He added that the investment will support new TPU-based products, greater backward integration and faster product development.
Mittal Shah, Business Head – Engineered Polymers & Medical Devices IMEA, Lubrizol, said, “As customers increasingly seek PPF solutions that combine premium aesthetics with long-term protection, Lubrizol’s ESTANE® TPU technology helps enable the performance, durability and appearance retention required for next-generation PPF applications. We look forward to supporting Garware on its TPU extrusion setup for PPF in India leveraging our global TPU technologies to help deliver best-in-class solutions.”
Abhishek Shrivastava, VP and Managing Director, Lubrizol IMEA, said, “India is emerging as a significant hub for advanced manufacturing, supported by growing domestic demand, strong industrial capabilities and an increasing focus on localization. At Lubrizol, we are committed to enabling this growth through collaboration, innovation and world-class materials science. Our association with Garware reflects a shared vision of advancing high-performance solutions for the Indian market while contributing to a stronger and more competitive specialty materials ecosystem.” The initiative also supports the Make in India objective by developing advanced material processing and specialty film manufacturing capabilities within the country.
Lubrizol, a Berkshire Hathaway company, is a science-based company providing specialty chemistry solutions for mobility, well-being and modern life. Founded in 1928, Lubrizol has more than 100 manufacturing facilities, sales and technical offices and over 7,000 employees worldwide.
Garware Hi-Tech Films Limited (BSE: GRWRHITECH 500655 | NSE: GRWRHITECH) is a manufacturer of sun control window films for architectural and automotive applications, Paint Protection Films and high-end BOPET films for label and industrial applications. The company uses nano-dispersion and other technologies across its manufacturing operations and has a presence in more than 90 countries.
