Packaging company, Uflex, on Tuesday said it expects revenue of around Rs 500 crore from BOPET film patent that has been granted by United States.
"FlexFilms, the global film manufacturing arm of Uflex, has been granted United States Patent covering entire categories of formable films that include one or more BOPET layers used in Alu Alu blister packaging," the multinational flexible packaging materials and solution company said in its filing.
With the patent issuance, the company gets exclusive right of manufacturing and sale of this special BOPET film in US, Europe and India.
In an interview to CNBC-TV18, Rajesh Bhatia, global chief financial officer, said, "Currently in the pharma blister packaging, we are using nylon and poly vinyl chloride (PVC) along with aluminium sandwiched in between the two layers, which are not environment friendly. In India, National Green Tribunal (NGT) had already issued an order banning the use of PVC. Still there was no substitute available. However, this patent will substitute the PVC."
"Currently, I think globally the blister packaging market is around $22 billion and in India, the market size is around Rs 18,000-20,000 tonne a year,” Bhatia said.Further Bhatia said, “We will be looking at a market size in excess of 50 percent in India. Currently in our existing business, we have production capacity to take care of this. However, I think we require around Rs 200 crore as and when we ramp up the capacity utilisation."