It is definitely some different but really cool stuff.
It is expensive but you have to look at the fact that you only mix around a 5% solution to spray on a car or whatever you are applying it to. And the biggest part is that fact that you can spray / mist it on and simply blow it off. Once it hits the material it bonds and you are done. So this is no need for extra touching of the paint.
I have been able to do a whole care with a Kwazar Mercury Pro + 0.5 Liter Spray Bottle (17 oz.). So it works out nicely and the Kwazar makes a super fine mist pattern for me a hold it. I have been looking into getting a small "paint" sprayer to connect to my air compressor to spray an even finer mist and use less product. That will really help bring the cost down.
It doesn’t like to bond to sealants or waxes very well and so when using it with the them the durability is very short lived and is a total waste in my opinion. It seems to work much better on coatings though where you can get a few weeks or even a months. The best durability I have seen actually reported was when applied to bare paint and using “Dawn” dish soap as the soap to wash it. The durability was a few months. For some reason Permanon doesn’t like soaps with additives, polymers or gloss enhancers.
I think it is a great option for wheels, wheel barrels, wheel wells, and even paint. Basically anywhere where it is hard to get into and wipe on something, or if you just want to limit the amount you are touching you paint.
