DCM Shriram Ltd. has entered into a joint venture with Netherlands-based Teknor Apex B.V., a subsidiary of US-headquartered Teknor Apex Company, to expand its footprint in advanced polymer compounds. The JV, to operate under the brand name ‘PolyTek’, will be housed under DCM Shriram’s subsidiary, Shriram Polytech Ltd.

The move is aimed at strengthening DCM Shriram’s polymer compounds portfolio and building a globally competitive platform in specialty plastics, a segment seeing rising demand across industrial applications. The partnership brings together Shriram Polytech’s domestic manufacturing capabilities in vinyl compounds with Teknor Apex’s global expertise in material formulation.

Shriram Polytech’s vinyl base combines with Teknor Apex’s formulation capabilities

The companies are targeting opportunities arising from India’s position as a fast-growing manufacturing and consumption hub. The JV will focus on high-performance, technically advanced polymer solutions, while also aiming to improve supply chain resilience and access to newer material technologies.

Ajay S. Shriram, Chairman and Senior Managing Director of DCM Shriram, said the partnership aligns with the group’s strategy of building “future-ready businesses” by combining global technology with local scale. He indicated that the JV is expected to create a platform capable of delivering advanced products at scale, catering to both domestic and international markets.

Teknor Apex CEO Donald Wiseman said the collaboration provides immediate access to an established manufacturing base and market presence in India, alongside deeper insight into one of Asia’s largest industrial ecosystems. He added that the combination of vinyl material capabilities and formulation expertise would help deliver high-performance solutions across sectors.

Focus on high-performance materials amid rising demand across industrial sectors

While financial details of the transaction were not disclosed, the JV underscores a broader push by Indian manufacturers to move up the value chain in specialty materials. Industry demand for advanced polymer compounds is being driven by applications in automotive, electricals, infrastructure and consumer goods, where performance, durability and compliance with global standards are becoming critical.

PolyTek will also align its operations with sustainability and environmental standards, reflecting increasing regulatory and customer focus on responsible materials.

The partnership is expected to help both companies expand their presence in high-growth segments, deepen customer engagement, and strengthen their position in the global specialty polymers market.