Heat Cure’s Nanotechnology-Based Coating Stands Out-Sanjay Mendiratta, Heat Cure

How did the firm come up with the idea/product?

The Indian glass industry market size has reached $ 3.3 billion in 2022, and it is further expected to reach $ 4.8 billion by 2028 as per a report by IMARC Group. Over the last decade, modern architecture has come to the centre stage with designers using glass to amp the look of the building. And, we all know that glass allows a lot of heat inside any structure and forms a strong greenhouse effect which causes a rise in room temperature – in turn, leading to huge energy consumption to maintain the desired temperature.

It is a vicious circle in which millions of consumers are trapped, where they end up not only paying a huge cost of electricity but also impacting the environment at large.

We needed a solution that could block the heat, maintain the grandeur of the structure, cut electricity cost and act as an insulator to retain the cooling inside to save energy. Hence, we ended up with Heat Cure solutions for glass and roof, designed and developed as per the Indian climatic conditions and started marketing it through B2B channels initially and now we are approaching B2C clientele as well. 

What is the current size of the firm in terms of employees, turnover, and volume of sales?

 At Heat Cure, we have a dedicated team of 56 people, including in-house application trainers and coating experts. Additionally, we work with over 40 operational franchise partners in India and the UAE. In terms of sales volume, we have successfully completed projects at more than 1800 sites, serving both B2B and B2C sectors. Looking ahead, we have set ambitious targets to achieve a minimum of 5x growth in the next three years compared to our current level of operations. 

Did Heat Cure have to create the market opportunity, or did other products like films already exist?

While there are other solutions available in the market, such as films, our nanotechnology solutions offer a superior range of features. Traditional window films primarily address UV ray blockage and fall short in blocking IR rays, which contribute significantly to indoor heat. Moreover, these films are often marketed based solely on their tint, with the misconception that darker films are more effective at blocking heat. However, these films are made of plastic and do not offer the same sustainability benefits as Heat Cure. 

With a global focus on sustainable building solutions that save energy and have a positive impact on the environment, Heat Cure’s nanotechnology-based coating stands out. Hence, we had to create a market for our glass and roof solution by not only spreading awareness but also educating people about the positive impact the product has on their lives. 

What are your targets for 2023, 2024, and beyond?

Having successfully completed projects at over 1800 locations, serving both businesses and individual customers, our goal for the next three years is to grow at least five times larger than we are today and expand our reach into Tier 2 cities and beyond. To achieve this, we are actively seeking partnerships with glass processing units, UPVC manufacturers, aluminium door manufacturers, and others. These partnerships will help us access new markets and expand our service offerings. We are also focused on improving the quality and effectiveness of our current offerings. 

How big is the potential market for Heat Cure in your view?

A study revealed that in 2022, the market for these coatings in the Asia-Pacific region was worth a substantial $ 500 million, and it’s expected to maintain a 22% CAGR until 2032. The data clearly indicate a significant demand for nanotechnology coatings for glass and roofs that help maintain cool building interiors by blocking out the sun’s heat in India. This demand surge is driven by rapid urbanisation, industrialization, and rising disposable incomes, with consumers seeking solutions that not only manage heat but also improve energy efficiency in light of increasing electricity costs. 

Do you see applications beyond windows for the product?

Most of the heat transfer in buildings, homes, and large spaces occurs through roofs and windows, which is why our product offerings are tailored to address these specific needs. At Heat Cure, we offer thermal insulation solutions through Nanotechnology Liquid Glass Coatings and Heat Reflective Roof Solutions. Our roof solution is designed to cool down the top floor, making it as comfortable as the ground floor. It’s eco-friendly, certified as a green building product, and it helps combat global warming by reducing the need for air conditioners. This not only saves energy but also reduces energy bills. 

How do you sell Heat Cure? Through architects/glass firms or others? How challenging is it to convince customers to invest?

We have established partnerships with sellers through a franchise model in more than 23 cities across the country, and we are aggressively expanding. We aim to make our products accessible to end clients in both Tier 1 and Tier 2 cities. Additionally, we are actively seeking collaborations with glass processing units, glass facade fabricators, and professionals involved in the manufacturing of UPVC and aluminium doors and windows. These partnerships will help us broaden our customer base and reach new audiences who can benefit from our solutions.