By: ICN Bureau
Last updated : September 23, 2026 5:13 pm
The partnership combines Lubrizol’s TPU tech and Garware’s manufacturing to localize premium PPF and specialty TPU films
Garware Hi-Tech Films Limited (GHFL), a leading Indian specialty films manufacturer, has signed a Memorandum of Understanding (MoU) with global specialty chemicals leader Lubrizol to co-develop and manufacture Lubrizol’s Thermoplastic Polyurethane (TPU) technology in India.
The partnership marks an important step in GHFL’s strategy to build a technology-led TPU product platform across new specialty applications, while also enabling backward integration into TPU films for its premium Paint Protection Film (PPF) business.
The collaboration will combine Lubrizol’s global TPU technology and material science expertise with GHFL’s engineering, processing and manufacturing capabilities to develop and commercialize new, high-value TPU-based products in India.
It will also create opportunities across automotive, architectural, industrial, electronics and other high-value specialty applications, expanding GHFL’s addressable market and enabling the company to participate in new technology-driven product categories.
This specialized TPU film extrusion setup will fast-track GHFL’s product development, prototyping, and market launch, allowing the company to stay highly responsive to customer needs. To support this forward-looking strategy, GHFL is dedicating roughly 25% of its ₹118 crore platform investment specifically to new product development and technological advancement.
Commenting on the development, Monika Garware, Joint Managing Director & 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.”
Commenting on the partnership, Deepak Joshi, Director - Sales & Marketing, GHFL, said: “GHFL’s Rs. 118 crore investment in advanced TPU film extrusion and manufacturing capabilities is expected to be operational by December 2026, together with the expansion of PPF manufacturing capacity to over 600 LSF, marks a significant step in strengthening our technology-driven, value-added portfolio. This will enable us to develop new TPU-based products across PPF and other specialty applications, while providing greater backward integration for our PPF business. With nearly 25% of the investment directed towards new product development and technology capabilities, we see TPU as an important foundation for future innovation, faster commercialization and incremental EBITDA margin improvement in PPF.”
Commenting on the partnership, 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.”