Teknor Apex and DCM Shriram Form PolyTek JV to Expand Advanced Polymer Compounds

Teknor Apex and DCM Shriram Forge JV to Boost Positioning in Advanced Polymer Compounds

Teknor Apex B.V. (a subsidiary of Teknor Apex Company) announced a joint venture with Shriram Polytech Ltd. (a subsidiary of DCM Shriram Ltd.) to form PolyTek. This new entity combines Indian PVC compounding expertise with global technical capabilities to manufacture advanced polymer compounds.

Key Joint Venture Details

This strategic partnership represents a milestone for Teknor Apex, designed to strengthen its polymer compound portfolio and enhance global expansion within high-growth sectors. By combining Shriram Polytech’s strong domestic manufacturing capabilities in vinyl with Teknor Apex’s global formulation expertise, this joint venture aims to supply specialized, high-performance polymer solutions for industrial applications. India's transition into a leading global center for manufacturing and consumption offers a significant opportunity for innovation-driven expansion within the advanced polymer compounds sector.

According to Towards Chem&Materials, the advanced polymer market size accounted for USD 78.95 billion in 2025 and is predicted to increase from USD 86.02 billion in 2026 to approximately USD 186.05 billion by 2035, expanding at a CAGR of 8.95% from 2026 to 2035 as demand for fuel-efficient aircraft is increasing across the globe.

Aerospace & Defense Demand Accelerates the Advanced Polymer Market

• Increase in demand for lightweight and high-strength polymers to enhance fuel efficiency and payload capacity is the major factor driving market growth.
• The transition towards electric vehicles raises the demand for lightweight materials that improve overall structural efficiency and battery range.
• Growing emphasis on sustainable packaging and regulations on plastic use fuels the development of biobased and biodegradable plastics.
  Ongoing urbanisation and rapid population growth in emerging regions propel high demand for innovative polymer materials.