10 Profitable Plastic Product Manufacturing Business Ideas
The plastic products manufacturing business offers a wide range of business opportunities for prospective entrepreneurs with a keen interest in the venture.
Plastics are used in different forms in various industries, and the demand for plastic products is high and growing on a daily basis, prompting a lot of people and businesses to look into venturing into the sector.
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 three items – Hydrocyanic acid and its derivatives, Isocyanates and Di-isocyanates, and Phosgene and its derivatives.
At present in countries like Nigeria and several others around the world, the Governments allows 100% Foreign Direct Investment (FDI) through the automatic route without any sectoral cap. However, you need specific approvals from a Foreign Investment Promotion Board of these countries for a few cases.
That said, here are 10 plastic product manufacturing business ideas you can start and run successfully in Nigeria, Africa, India, or anywhere around the world:
1). Air Bubble Packaging Wrapper:
Air bubble packaging wrapper is an integral component in packaging field as an economical and convenient cushioning material. Ever since there has been an increased demand for electronic goods and fragile items, the need for bubble wrap has shot up, making its manufacturing a good plastic product manufacturing business idea.
2). Disposable Plastic Cup Manufacturing:
The demand for disposable cups in the recent years has increased. The hospitality industry widely uses disposable plastic cups. Businesses like hotels, restaurants, canteens, etc., use them on a daily basis. The production process is simple and you can initiate the unit on a small or medium scale.
3). Disposable Plastic Syringe Making:
Disposable plastic syringes are used to inject liquids into human and animal bodies. They are becoming popular in the medical industry due to their low cost and high accuracy. A disposable plastic syringe manufacturing business can be started on a small and medium scale basis with substantial capital investment.
4). Drinking Straw Manufacturing:
Straws are an essential product in the soft drink industry. The manufacturing process is simple and you can initiate the business on a micro and small-scale basis. Since straws are used in almost every event, restaurant, hotel, and more, venturing into its production as a plastic product manufacturing business idea can be a first step into the industry.
5). HDPE Bag Making:
HDPE pouches are getting quite popular due to their resistance towards chemical, moisture, rotting and fungus attack. These bags are non-toxic, weigh less, and have more advantages as compared to conventional 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 much more.
6). Pet Bottles Manufacturing:
Production of pet bottles is a largely profitable manufacturing opportunity in the plastic industry. The production unit for pet bottle production requires a simple process of injection moulding and blow moulding, thus making it a profitable venture for entrepreneurs.
7). Pharmaceutical Strip Manufacturing:
Pharmaceutical strips are used for moisture and air proof packaging of drugs like capsules, tablets, etc. Manufacturing units for this business can be initiated on a small and medium scale but it demands proper financial and production planning.
8). Plastic Bag Making:
With the use of polythene bags increasing day by day, it makes the plastic bag making business a profitable venture. You would need an extruder, printing machine and plastic bag making machine to get started.
9). PVC Coated Electric Wire:
PVC coated electric wires are used extensively for wiring of domestic home appliances, along with house wiring and internal wiring for lighting circuits in factories. Its high tensile strength, good flexibility, superior conductivity and ease of joining makes it a good fit for mining, instrumentation, submarines and ship wiring applications as well.
10). Water Storage Tank:
Plastic tanks are much better when compared to traditional steel tanks. Since they have a seamless construction, they have greater impact strength and superior resistance to rust, fuel additives, and corrosion. 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 manufacturing business is a vast one with multiple opportunities and can be really profitable depending on which business idea you choose to venture into. With the right capital, partners, and experience, you can build a successful plastic product manufacturing business in Nigeria, Africa, India, or anywhere around the world.
About The Writer
This is a guest blog post was written by Mohan Naik, who oversees the digital marketing for XL plastics, a leading name in the field of plastic converting machinery. He writes to educate his audience and skillfully uses marketing to incite interest even in the most passive of readers. He stays updated with the latest trends and innovations in the industry and is quick to share that with his readers.
Note: This article has been edited for style and substance.
What are your thoughts on these 10 profitable plastic product manufacturing business ideas? Let me know by leaving a comment below.