The Relationship Between Sustainability and Profitability

September 22, 2024

Sustainability and profitability have traditionally seemed like opposite ends of the spectrum in the plastics industry. Manufacturers focusing on sustainability would see reduced profits while those who aimed for greatest profitability often did so at an environmental cost. Thankfully a combination of innovation and consumer demand has resulted in a situation where sustainability and profitability are not mutually exclusive goals. 

Myths about Sustainability and Plastics

Many people have some misconceptions or outdated beliefs about sustainability and plastics, leading them to expect unprofitable results. Here are a few:

Sustainable Plastics Are Too Expensive to Manufacture

Of course, material and production costs must be low enough that manufacturers are able to realize a profit on their parts and products. Early recycled plastics and bio-based resins cost substantially more than traditional, petroleum-based materials, dramatically lowering or erasing profitability. Today's innovative materials and recycling techniques are a great improvement, offering much higher returns.

Sustainable Plastics Don't Perform as Well

Early formulations of bio-based and other sustainable plastics often suffered from appearance, performance, and consistency issues, making them less desirable options. Today, such resins as PLA and PHA and many others make excellent substitutes for traditional plastics. 

Consumers Won't Pay More for Sustainable Plastics

Consumers' willingness to spend is critical for profitability, and some early, poorly performing, or overly expensive sustainable plastics found very limited demand and little customer satisfaction. Improved materials and an increased awareness and focus on environmental issues in recent years has significantly reduced costs and boosted customer satisfaction and support for sustainable plastics.

Sustainability, Profitability, and Partnering with Bennett Plastics

At Bennett Plastics, sustainability is a key component of our philosophy, affecting how we run our facility and in the products and services we offer our business partners. We strive to offer you eco-friendly manufacturing in the most cost-effective way so your products can earn the profits you need in an environmentally-minded way. Contact us today to learn more about achieving sustainability and profitability with your plastic products.

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