Tips and Facts in Costs of Injection Molding Calculation
Injection molding is one of the most common manufacturing methods, which allows the manufacturers to produce custom parts by melting plastic materials and putting them into molds. You can produce custom parts in large quantities with plastic molding, but you need to be aware of the costs involved in the production process. In this guide, you will learn about the tips and facts in costs of injection molding calculation.
The Factors that Will Affect the Costs of Injection Molding Production
There are various factors that will affect the costs of each injection molding production. Please note that there are many processes involved in injection molding(espeically for insert molding and overmolding), and there are also various tools, equipment, and materials you need to use during this process. So, it’s best for you to calculate all the relevant factors that can affect the costs of your injection molding method.
Here are the factors that will affect the costs of injection molding production:
●Tools.
Tooling is one of the most important parts in injection molding, and you will need to use various rapid tooling or molds to create the custom parts in this process. Creating tools can cost you a lot of money depending on the tooling materials you use and how you would like to create them. You can create tools or molds by using CNC machining services, 3D print services, and EDM or electrical discharge machining.
●Equipment.
Injection molding uses a certain type of equipment that ensures all processes work in proper ways. You will need to purchase the primary injection molding equipment if you haven’t done so, and you will need to install them on your premises based on your production needs.
●Bills.
Running the equipment can cost you quite a lot of electricity bills, so you also need to factor in these bills in your injection molding cost calculation.
●Materials.
The materials you will use in your injection molding process will also affect the costs of the production. The lower the material costs, the lower the overall quality of your custom parts will be. So, try to find a balance in the material you use and the quality you would like to achieve. With injection molding, you can use various materials, such as nylon, polycarbonate, LDPE, acrylic, TPU, and more such as silicone rubber molding.
●Labors.
You will also need to hire some workers to monitor the injection molding process, which means you will need to factor them in toward the overall costs you need to pay in your production. You will also need to hire workers to set up your injection molding equipment and perform repairs when necessary.
●Low vs. high volume production.
Low-volume production will often allow you to lower the overall costs of your injection molding process, but it will give you a higher cost per part. High-volume production, on the other hand, will give you a lower cost per part, while making it necessary for you to pay a higher upfront cost for the production process.
Tips for Getting the Best Price for Your Injection Molding Production
You can always keep the injection molding production costs as low as possible by improving your production efficiency in various aspects. Here are some tips for getting the best price for your injection molding rapid manufacturing:
●Simplify the custom part’s features.
The more features you have for your custom parts, the more complex the parts production process will be. Thus, it will put you into a more expensive production cost. It’s best to simplify the custom part’s features to minimize the injection molding costs.
●Use a lower-grade material.
Using a lower grade material can also be a good option for you to keep the injection molding costs low. However, be sure to balance it with the quality you would like to achieve for your custom parts, as lower-grade materials will only make the quality of your custom parts worse.
●Keep the production efficiency high.
By keeping the production efficiency high, you can also minimize the costs of production in your injection molding process. You can do it by using more energy-efficient equipment, hiring fewer workers, running faster production processes, using simpler designs, and so on.
●Stick with low-volume production.
One of the best ways to keep the injection molding production costs low is to use only low-volume production. It can minimize the upfront costs you need to pay, and it is the best way to go for most small businesses.
Facts You Need to Know about Injection Molding Costs
Injection molding can be costly if you don’t consider all the financial aspects of it before running the production process. Here are some facts you need to know about injection molding costs:
●Tooling costs can be expensive.
One of the most expensive costs you can spend on your injection molding process is the tooling costs. Depending on the materials you use for tooling, the costs such as plastic multi-cavity moulds can go as high as $20,000 for aluminum steel molds used in high-volume production.
●The biggest investment goes for the injection molding equipment.
The injection molding equipment can be your biggest investment in the injection molding process, especially if you are starting from scratch.
●Mass production can be expensive, but the cost per part will be lower.
High-volume production can be your best choice for injection molding if you are looking for a higher return on investment (ROI). It will cost a lot of money upfront, but you will get the lowest cost per part.
●3D printed mold is the cheapest mold type.
You can pick the cheapest mold type, which is the 3D printed mold, if you want to cut down on your production costs. However, this option is only available for low-volume production.
●Average injection molding costs.
The average injection molding costs are around $400-$500 for low-volume production, $13,000-$15,000 for medium-volume production, and $170,000-$200,000 for high-volume production.
Conclusion
You can consider these tips and facts about injection molding cost calculation before starting your injection molding production. You can make use of this information to give you the insights on how to keep the costs at a minimum if this is your first time using the injection molding method. Also, there are manufacturing services specializing in injection molding production, which can provide you with better prices per part, which can be an excellent alternative solution to your production plan.
Besides form injection molding, TEAM Rapid offers a series of manufacturing abilities such as rapid prototyping, sheet metalwork fabrication, die casting services etc to meet your project needs. Contact our team today to request a free quote now!
Contact