India - Collaboration in automotive exterior wrapping technology, equipment and material

Description

India is the world's third-largest Automobile market producing a total 25 million vehicles including Passenger Vehicles, Commercial Vehicles, Three Wheelers, Two Wheelers, and Quadricycles. 

The Indian automotive industry is expected to reach £250 billion, where the auto components industry is expected to grow to £160 billion and the automotive aftermarket segment is expected to reach £25 billion by 2026 as per the government (IBEF). 

The global automotive wrap film industry is poised to grow from £4.75 billion in 2022 to £24 billion by 2030 growing at a CAGR of 25% and India being the prominent automotive market will be forming part of a significant share in the industry. 

This Indian company is one among the market leaders in the artificial leather segment for automotive industry, PVC films and flexible flooring, making a turnover of close to £30 million and is listed in the Indian stock exchanges. The company has a marketing network of over 90 to 100 dealers across India and exports to 25 countries across the globe.

They're looking for a partnership for technical collaboration, importing materials and equipment for exterior wrapping (car wrapping) as they see a huge shift in the market where films are used instead of painting. 

The Indian company wants to speak only to UK based manufacturers. They will not engage with third party intermediaries.

Opportunity closing date

31 March 2024

Value of contract

to be confirmed

The buyer is happy to talk to

manufacturers