The polymer is usually used to manufacture various plastic products. Polymers account for around 70% of petrochemicals. Within the consumption of the basic petrochemical, polymers form the majority of demand with a share of around 55% in India. Most of the outputs of polymers are Polystyrene, Polypropylene, PVC, LDPE/ LLDPE, and HDPE. The thing about crafting this article is to provide a list of financially viable small-scale plastic business ideas to new entrepreneurs. These are all items with a large market and high turn over. While design and custom production might not be for you, retail and wholesale are great ideas in these areas.
Around 54% of PVC is employed in the manufacturing of pipes and 14% is used in the production of cable sheathing. Polypropylene may be a very lightweight polymer and that is the main reason why it is used as a substitute for various other polymers. Low-density polyethylene (LDPE) and linear low-density polyethylene (LLDPE) also are widely used polymers. This segment of polymers is growing at a rate of 12% per annum. quite 50% of LDPE/ LLDPE is used by the packaging industry. Take note!
The plastic products manufacturer offers a wide range of business opportunities for prospective entrepreneurs with a keen interest in the venture. Plastics are utilized in different forms in various industries, and therefore the demand for plastic products is high and growing on a daily basis.
Industrial Policy For Manufacturing Plastic Products
In many countries, the domestic plastic sector has been de-regulated and de-licensed, however, it needs compulsory licensing for 3 items – Hydrocyanic acid and its derivatives, Isocyanates, and Di-isocyanates, and phosgene and its derivatives. This only usually applies to manufacturing though.
At present in countries like Nigeria and several others around the world, the Government allows 100% Foreign Direct Investment (FDI) through the automated route without any sectoral cap. However, you would like specific approvals from a Foreign Investment Promotion Board of these countries for a few cases.
The Lucrative Plastic Business Ideas
If you’re someone who’s trying to start a business revolving around plastics, we have rounded up the list of lucrative plastic business ideas for your consideration! Let’s jump right to products that are needed everywhere!
1. Bubble Packaging Wrapper
Air bubble packaging wrapper is an integral component in the packaging field as an economical and convenient cushioning material. Ever since there has been an increased demand for electronic goods and fragile items, the necessity for bubble wrap has shot up, making its manufacturing an honest plastic product manufacturing business idea. Check how it is made here, a fun a versatile material.
2. Disposable Plastic Cup Manufacturing
The demand for disposable cups within recent years has increased. The hospitality industry commonly uses disposable plastic cups. Businesses like hotels, restaurants, canteens, etc., use them day to day. the assembly process is simple and you can initiate the unit on a small or medium scale.
3. Disposable Plastic Syringe Making
Disposable plastic syringes are wont to inject liquids into human and animal bodies. they’re becoming popular in the medical industry due to their low cost and high accuracy. A disposable plastic syringe manufacturer can be started on a small and medium scale basis with substantial capital investment.
4. Straw Manufacturing
Straws are an important product in the soft drink industry. The manufacturing process is straightforward and you can initiate the business on a micro and small-scale basis. Since straws are utilized in almost every event, restaurant, hotel, and more venturing into its production as a plastic product manufacturer idea can be a first step into the industry.
5. HDPE Bag Making
HDPE pouches are becoming quite popular due to their resistance to chemical, moisture, rotting, and fungus attack. These bags are non-toxic, weigh less, and have more advantages as compared to standard bags. In fact, HDPE bag making is one of the most profitable plastic product manufacturing businesses in many countries around the world including Nigeria, India, and far more.
6. Pet Bottles Manufacturing
Production of pet bottles may be a largely profitable manufacturing opportunity in the plastic industry. the assembly unit for pet bottle production requires a simple process of injection molding and blow molding, thus making it a profitable venture for entrepreneurs.
7. Pharmaceutical Strip Manufacturing
Pharmaceutical strips are used for moisture and airproof packaging of medicine like capsules, tablets, etc. Manufacturing units for this business are often initiated on a small and medium scale but it demands proper financial and production planning.
8. Bag Making
With the utilization of polythene bags increasing day by day, it makes the bag-making business a profitable venture. you’d need an extruder, printer, and plastic bag-making machine to get started.
9. PVC Coated Electric Wire
PVC-coated electric wires are used extensively for the wiring of domestic home appliances, together with house wiring and internal wiring for lighting circuits in factories. Its long-lastingness, good flexibility, superior conductivity, and simple joining make it a good fit for mining, instrumentation, submarines, and ship wiring applications also.
10. Water Storage Tank
Plastic tanks are far better when compared to traditional steel tanks. Since they need a seamless construction, they need greater impact strength and superior resistance to rust, fuel additives, and corrosion. The production of water storage tanks is one of the most profitable plastic product manufacturing businesses in the plastic industry.
To Sum It Up
The plastic product manufacturer is a vast one with multiple opportunities and can be really profitable depending on which business idea you choose to venture into. With the proper capital, partners, and knowledge, you’ll build a successful plastic product manufacturing business in Nigeria, Africa in general, India, or anywhere around the world. Those markets are particularly expected to grow for the products presented here.
