10 Lucrative Plastic Product Manufacturing Business Ideas In Nigeria
Ever thought of checking out the lucrative plastic product manufacturing business ideas? Ever thought of the possibility of running a lucrative plastic product manufacturing business? I really hope that you know it is quite possible. Seriously, it is not that a big deal, so why not go for it.
Look at Nigeria, a lot of things are in plastic; buckets, bowels, drinking cans, gallons, plates, spoons and countless things are in plastic. What does it tell you?
For me, it tells you that the lucrative plastic product manufacturing business offers a wide range of opportunities. The prospective entrepreneurs should explore the options offered up by the plastic industry. There are just too many plastic business opportunities.
The questions people ask on the plastic industry are quite interesting. They sometimes want to know how to make plastic products at home, the new manufacturing ideas with medium investment, the plastic factory project plan, and others.
We will attempt to look into some of the questions asked and at the same time, look into the amazing and lucrative plastic product manufacturing business ideas.
Hold on a minute. Don’t you want to know what the industrial policy for producing plastic products is? I bet you do. Let us quickly access this policy before going into the list of lucrative plastic product manufacturing business ideas.
Industrial Policy For Manufacturing Plastic Products
According to startuptipsdaily.com, the following covers the 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.
List Of 10 Lucrative Plastic Product Manufacturing Business Ideas In Nigeria
Air Bubble Packaging Wrapper
The first item in our list of lucrative plastic product manufacturing business ideas is the air bubble packaging wrapper. It has become a crucial component in packaging field as an economical and convenient cushioning material.
The demand for this product is quite high given the increased demand for electronic goods and fragile items. Moreover, this plastic product manufacturing machinery is always affordable.
Disposable Plastic Cup Production
You only need to look at the entertainment and hospitality industry to get the real picture of how lucrative disposable plastic cup manufacturing is. Clubs, events, parties and other organizations use them on daily basis. It is not very difficult to produce and you can start on a small or medium scale.
Disposable Plastic Syringe Making
Ever been to hospitals? Can you really count the number of hospitals in the country? Then, factor in the pharmacies and chemists that use plastic syringes to administer an injection to humans. Again, don’t forget the countless veterinary outlets that use syringes to administer injections or other ingredients to animals and you will understand the enormous market open to this business opportunity.
The amazing part can be started at any scale you want based on the capital available to you.
Drinking Straw Manufacturing
One of the lucrative plastic product manufacturing business ideas is the drinking straw manufacturing. I don’t want to talk about the usage here because we all use it almost on daily basis. Just know that it can be started at the base level with little capital and the production process is not that complicated.
HDPE Bag Making
The production of HDPE bags can be quite lucrative. The bags are getting popular now as a result of their resistance towards chemical, moisture, rotting, and fungus attack. The advantages of this bag over conventional bags are enormous. They are non-toxic and they weigh less.
Pet Bottles Manufacturing
This is quite simple to undertake and it requires little plastic making machinery. It is also very profitable because that is needed is a simple process of injection moulding and blow moulding.
Plastic gallons, plates, and buckets production
They are all found in the same company. This is one of the lucrative plastic product manufacturing business ideas. The uses of the items listed are quite many. I guess you already know that. This particular business idea is quite competitive because you are going to big weights like Innoson in the business.
However, you carve out a space for yourself through due diligence and the production of high-quality products.
Plastic bag making
The increase in the use of plastic bags has made the venture into the manufacturing of plastic bags aa profitable one. There are certain things needed to start this business. Basically, you will need an extruder, printing machine and more importantly, a plastic bag making machine.
PVC coated electric wire production
The PVC coated electric wires has become something of a renaissance in recent times. The engineers will understand better. They are used for wiring of domestic home appliances. They are also used for house wiring and internal wiring of lighting circuits in factories. The advantages are quite many; high tensile strength, superior conductivity, great flexibility, and ease of joining.
Water storage tank production
The steel tanks are becoming obsolete. The reason is simple; plastic tanks are much more reliable. The construction is seamless, they have greater impact strength and they also have superior resistance to rust, fuel, corrosion, and additives. It is simply one of the lucrative plastic product manufacturing ideas.