The global industry generates about $3 trillion in annual revenue. And even at that, the industry is expected to continue growing at a considerable rate due the diverse market for chemical products.
Big companies make most of the money in the chemical industry because they produce chemicals the serve as precursors and intermediates for most other industries. However, there are increasing opportunities for small-scale businesses due to the booming demand for consumer chemical products.
So, if you are looking to start your own small scale business and have special interest in the chemical industry, then you should consider going into the production of consumer chemical products. Here are ten small chemical business ideas you can implement easily and start making money with.
Top 10 Small Business ideas in the Chemical Industry for 2020
The need to wash our dirty clothes, dishes, and other household items is a constant one. And the same applies in industry. This explains why the demand for both liquid and powdered detergents is always on the high. You can take advantage of this by starting a small business that produces and sells detergents. Even if individual consumers are your target, you’ll make a lot of profit.
If you are still wondering how profitable this idea is, then simply consider how many times you and other people around you use detergents in a week, and you will quickly realize how large the market for detergents is.
2. Toilet wash
Due to the need to wash toilets regularly, toilet washing agents are always in huge demand because every house has a toilet. Despite the widespread need for toilet washing agents, many people still don’t buy them because most of the products available are not effective. If you are cocksure you can produce toilet washing agents that will give people the results they want, then get your small business off the ground.
Without perfumes, most of us deem our dressing incomplete. This explains why perfumes are in-demand products that will continue to sell for as long as one can imagine.
When choosing perfumes, people want two things: a unique, but nice fragrance and a long-lasting aroma. If you pride yourself on the ability to produce quality perfumes that have both qualities, then starting a perfume production business might be the best option for you.
Farmers use fertilizers to improve the quality of the soil and ultimately increase the yield of plants. Since the need to cultivate crops is a constant one, then you won’t go wrong by deducing that the need for fertilizers is constant as well. So, if you live in a locality or country where agriculture is done extensively, consider starting your own fertilizer production company to cater to local farmers who are always in need of the commodity.
Aside the challenge of low crop yield secondary to depletion of soil nutrients, infestation by pests is another challenge that farmers face. The solution to this problem is to use pesticides. However, many of the pesticides available in the market have long-term harmful effects on the health of consumers of agricultural produce. If you can produce pesticides that don’t present this harm, then you can make a killing. In addition, pesticides are needed in homes and other facilities for controlling pests. So, the market for pesticides goes beyond agricultural establishments.
It goes without saying that a building or structure lacks aesthetic appeal if it’s not painted—with the right colors. And who doesn’t want their homes or offices to be attractive? Nobody.
So, there are huge opportunities in the paint industry. If you have the required startup capital, then consider taking a plunge into paint production. You can start on a small scale, and then expand later as the business grows over time.
Nylon is used every day and everywhere because it’s needed for a wide range of purposes. Starting a nylon making business can be a smart move for those who are looking to start a recession-proof business that requires minimal startup capital and no formal qualifications. If you happen to be one of those people, then grab the opportunity.
8. Hand sanitizer
With people becoming more health-conscious, there is increasing awareness of the wide range of illnesses and infections that can be transferred from hand to mouth. This explains why the demand for anti-microbial hand sanitizers is on the high. You can make huge profits from this trend by starting a small business that produces hand sanitizers.
If you live in a locality or country where the demand for certain chemical product far outweighs the supply, you can make turn this into a profitable opportunity by importing the chemical to meet the needs of your local market. Simply find out about the products, connect with manufacturers in foreign countries, and seal the import deal with them.
Similarly, you can make money by exporting chemical products manufactured in your country to foreign countries where there is huge demand for those products.
10. Water purifiers
If you live in a country where the quality of water is generally poor, you can start a business that produces water purifiers—anti-microbial substances that are added to water in very small quantities to improve the quality of the water and make it safer for drinking. Not only will you contribute to the general well-being of other people, but you will also make money.