DCM Shriram enters into a Joint Venture to target  Specialty Polymers Segment

DCM Shriram has offloaded a 50% stake in its subsidiary Shriram Polytech to Netherlands-based Teknor Apex for USD 5.6 million, giving birth to PolyTek , a joint venture targeting India’s fast-growing specialty polymers segment.

The deal brings together complementary strengths. Shriram Polytech contributes domestic vinyl compound manufacturing capacity, while Teknor Apex brings in global formulation expertise and international market access. The result is a venture positioned to deliver high-performance specialty polymer solutions that meet global environmental compliance standards.

The timing makes sense. India’s specialty polymers market is projected to grow at a 9.1% CAGR, fuelled by accelerating industrialisation and manufacturing expansion across sectors. PolyTek is designed to ride that wave.

For DCM Shriram, this marks a deliberate pivot toward high-margin specialty materials — territory beyond its traditional chemical and vinyl businesses. The partnership also improves supply chain resilience and opens the door to advanced material technologies that would otherwise take years to develop in-house.

Teknor Apex, meanwhile, gains a direct foothold in India’s industrial ecosystem — a market that global materials companies have increasingly prioritised.