As a business looking into the injection molding process and how to implement it into your business, having the full picture is essential. Knowledge of the best plastic injection molding service, product materials required, what kind of mold making technology it invloves and the cost of the injection molding process. The cost is a particularly important aspect given that it will help you gauge whether the investment you are about to make is worth it.
Having a clear picture of the costs incurred during the injection molding process and your products will also help you to choose the right manufacturer. You’ll be in a position to understand their price ranges and compare them to settle on one that meets your budget. When it comes to the injection molding costs, you’ll be looking at three different aspects. These aspects will help you better understand the costs attached to this process.
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Cost of Injection Molds
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When it comes to the mold you’ll be working with, the cost will vary depending on a few factors. Here you’ll be looking at the size of your mold, the material to be used, and the capacity in numbers of the products to be manufactured. With this, you can then calculate the cost of the mold you want to be used. For instance, if you deal with machine washers and need them manufactured in bulk, the first thing is to create a mold.
If you are working with a capacity of 1000 washers, then you can estimate the value of the mold to come in at $1000 to $2000. However, on the other hand, if you were working on producing video gamepads, the setup would be different. For this, you’d probably need 12 molds to work together simultaneously on the front section, the back, and the buttons. This setup will result in an additional cost ranging from $100 to $80,000.
This goes to show that the cost of the mold will vary greatly depending on the product it’s being designed for. It is important to keep in mind that the figures mentioned will vary depending on the manufacturer you work with. They are simply a rough estimate for what you should expect when looking to have an injection mold of your product created. Additionally, when figuring out the price of your injection mold, keep in mind that it will vary depending on whether you’re using single cavity or multi-cavity tools. With the single cavity, the price will be significantly lower compared to the multi-cavity molds.
Cost of Injection Molding Materials
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When it comes to the materials being used in the injection molding process, you have a variety to choose from. The resins are usually divided into thermoplastic and thermoset plastic materials. Under each, different types of plastic resins can be used for this particular method. The different materials also feature a varied set of characteristics and applications. This makes it important to have the right knowledge of the materials used in injection molding and those best suited for your product.
When it comes to plastic injection molding cost, the molding material will be a huge player and contributing factor to the price. Each material that will be used will come with a different amount and cost attached to it. The material you choose to work with will determine your cost per part in the production. This is important to keep in mind to ensure that you are working with a budget that will offer you great quality.
Additionally, you need to keep in mind the specific qualities featured in the plastic resin. For instance, if you are working with a material that features chemical resistance and other additional aspects, the cost will be greater. However, if you are working with a material that is basic and doesn’t feature any additional aspects, the cost will be lower.
Cost of Injection Molding Labor
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When it comes to the labor costs, you’ll find that it is much lower compared to the injection mold cost and injection material cost. This is mainly because injection molding labor involves the use of a self-regulating and automated injection molding machine. Different elements will affect the cost of labor when it comes to injection molding. Some of the elements to be considered include:
Location
Depending on where your business is located, you would prefer to work with a company from abroad. Going with a company with cheaper rates will help you avoid having to deal with a higher budget. However, keep in mind any additional charges especially when it comes to shipping.
Type of equipment
There are different types of equipment when it comes to injection molding. When it comes to the cost of injection molding, the hydraulic injection molding machine will be more expensive. However, when using electric hybrids you find that the price is reduced.
Additional services
During the injection molding process, the first thing to consider is the product and mould design. This is an additional service that may also feature an extra cost to the amount of money you’ll be spending.
Manual labor
Depending on the processes you want to involve in the injection molding manufacturing of your products, you’ll feature the use of different expertise. This will feature additional manual labor that will translate into additional costs incurred.
The cost of the injection molding labor will vary depending on the various aspects you include in your production. This goes to show that you’ll need to consult with your manufacturer to ensure that you have all the basics and prices in check.
How to Reduce the Cost of Injection Molding
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As a business, when trying to get into injection molding, the prices may throw you off a bit. However, there are a few things you can do to cut costs and reduce the amount of money you spend. Some of the most effective ways to do this include:
Cutting out unnecessary features
If you plan to include fancy features like logos and other product designs, it would be a good idea to cut them out. This is mainly because they add to the costs especially when it comes to injection molding tooling. Doing this will help you cut costs and reduce unnecessary spending.
Include a core cavity
This is mainly featured in the manufacture of electronic housings and comes in handy to reduce the costs incurred during production. Additionally, it provides a smoother surface finish on all the products created using this method. It will also reduce the need for super steep draft angles.
Create self mating parts
This refers to parts that can easily fit into each other. They are featured in applications where you need two cases to house something. These cases are designed to snap into each other leaving a hollow space where you can have other items stored. This is a great way of having them manufactured together and reduces the costs of the injection molding process.
Incorporate multi-cavity molding
Using multi-cavity molding is also another great way to save on costs and reduce your spending. It involves the use of different molds to create the same products simultaneously. It will be a bit more spending on tooling but the overall cost and time taken will be lowered compared to taking it one product at a time.
Modify existing molds
Creating new injection molds to work with is quite costly especially when working on a new project. However, you can easily modify any injection molds that you have worked with before to help you get the manufacturing of your products in check. This will greatly reduce the cost of injection molding and give you a better budget to work with.
Conclusion
When it comes to injection molding, you’ll be working with different costs depending on the products and other aspects attached. To get the best estimations on how much it will cost, consider working with an injection mold manufacturer. They will help guide you and give you an actionable budget to work with. Consider making tweaks and adjustments to the product’s manufacturing process if it saves you money and time.