Sirmax Group, a company specializing in the production of thermoplastic granules for various application sectors such as automotive, household appliances, electrical and electronics, furniture, construction and many others, has completed the renovation of its Indian plant in Palwal and started land preparation for the greenfield construction of a new Indian plant in Hosur, which will be operational from 2027. The Cittadella Group is already present in India with two plants (Palwal and Valsad) controlled by the Autotech-Sirmax joint venture. The Hosur plant will be the third in India and the fourteenth globally. Total new investments in India at Palwal and Hosur amount to approximately $10 million (Palwal and Hosur), driven by a robust recovery in domestic demand. This is further supported by the Group’s strong overall performance in 2024, achieving a turnover of 420 million (with a +10% increase in volumes).
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15% growth every year in India
Sirmax is growing in India by 15% every year thanks to the domestic market alone. The redevelopment of the Palwal production site has transformed the plant into a modern, technologically advanced facility with four new extrusion lines, state-of-the-art laboratories, and new automated warehouses. The production capacity has doubled from 15,000 to 30,000 tons per year to meet the growing demand of the automotive (electric vehicles), household appliances, and electrical and electronics sectors.
The expansion of the Palwal facility is part of the group’s broader growth strategy aimed at positioning it as one of the leading producers of technical thermoplastics and polypropylene-based compounds in India. This development is complemented by the greenfield construction of the group’s third plant in the country, located in Bangalore-Hosur (in southern India). Construction has commenced with land preparation works on a site spanning approximately 20,000 square meters. The new plant is expected to be operational within two years, enabling Autotech-Sirmax to strengthen its position as a ‘glocal’ supplier, serving both the domestic market and expanding its reach across Asia.
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“Following our investment, India will be a modern hub where customers will be able to find the same know-how that exits in all other regions of the world,” explains Sirmax Group President and CEO Massimo Pavin. “At present, India accounts for about 10% of Sirmax's entire business, but growth expectations are high – just think that the country has a population of 1.4 billion with an economy growing at 6,5% per year”.
“The completion of the Palwal plant expansion,” adds Achal Thakkar, Managing Director of Autotech-Sirmax India, “reflects our commitment to providing world-class materials and solutions to our customers. This investment enables us to meet the rapidly growing demand for high-performance compounds in India and international markets, while strengthening our ability to drive sustainable innovations. It is the beginning of an exciting new phase for Autotech-Sirmax India.”
The Group closed 2024 with a turnover of 420 million
2024 closed on a positive note for Sirmax. The turnover recorded is 420 million euro (numbers that should also be read in relation to the price trend of raw materials), up from 410 million in 2023, thanks to a +10% increase in global production volumes. Driving the year's performance were India, Brazil, and the United States. Europe also saw a slight recovery – which accounts for 65% of the entire turnover – despite high inflation, an increase in the cost of living, and a decrease in demand for durable goods and consumer bargaining power.
Two factors in particular have rewarded Sirmax: the new business model centered on sustainability, which has made it possible to develop high-performance green products that are now part of 90% of Sirmax's projects, and the multi-country and multi-product philosophy, which translates to internationalization with short supply chains to cover all areas of the world.
“You need to establish a presence where demand is rising. Producing within a market for that market continues to be a winning strategy – especially in today’s climate, where economies are closing and the demand for local supply chains is increasing” adds Massimo Pavin.
On the product front, Sirmax is experiencing strong growth in the electrical and electronics sector, with a focus on both the building and industrial segments. Notably, the company is expanding its range of flame retardant, i.e. self-extinguishing, and those with recycled content designed and formulated precisely for the needs of this market.
