We see several intricate and well-designed products around us every day. Have you ever wondered how they are made? Injection molding is the science behind it. This technology makes everything from phone casings to children’s toys. However, a big question always comes up: How much does injection molding cost?
Well, the answer to this question is not very simple. Injection molding can be expensive or affordable, depending on several factors. Still, knowing the estimated cost of this process is crucial, especially if you are a business owner planning to develop new products. Hence, I will explain everything about its cost in the easiest way in this article. So let’s get started!
Overview of Injection Molding
Before we explore the cost of this process, let’s first understand it. It will make things easy for you if you are a newbie.
Injection molding is a manufacturing process that mainly makes plastic products. It works by melting the raw material and pouring it into a mold. Mold is a hollow metal cavity of different shapes. Once the melted material cools down, it takes the exact shape of the mold. In the end, this product is extracted and used for different purposes.
One of the big things about this process is that it is perfect for making many of the same products. Once the mold design is ready, the machine can quickly produce thousands of products in no time. This makes it cost-effective for large-scale production. Moreover, injection molding also creates high-quality and detailed products.
Those products are strong, smooth, and consistent in shape. Therefore, they are used in standard industries to make different products. For example, the automotive industry relies on them to create dashboards, bumpers, and interior panels. However, the medical industry uses this process to produce syringes, IV parts, and pill containers.
Key Factors that Affect Injection Molding Cost
The exact cost of injection molding cannot be determined. As I said above, it varies and depends on several factors. So, let’s discuss those factors and explore the cost.
1- Mold Cost (Tooling Cost)
It is one of the most significant factors that affect overall injection molding costs. Tooling or mold cost refers to the amount you spend on creating the mold. As said above, a mold is a hollow cavity that gives shape to the products. This part must be precise and accurate to ensure the accuracy of the final products. There are several factors you should consider while creating a mold.
First, you can create it using techniques like CNC and 3D printing. These digital techniques ensure precision but also cost more, especially if you are a beginner. Moreover, the mold material also contributes to the cost of this process. Molds can be made with several metals, such as steel and aluminum. Steel is stronger but expensive, while aluminum is cost-effective but lightweight.
Further, the mold design also enhances or decreases the injection molding cost. For example, a multi-cavity mold for creating more than one part will be expensive. However, a single cavity mold is slightly less costly. That’s why working closely with experienced injection mold manufacturers is crucial. They will help you choose a reliable design, material, and shape for the mold.
Quick Highlight: The cost of molds varies depending on several factors. However, if we look at their design, a simple injection mold costs around $1,000 to $5,000. A complex mold can cost approximately $10,000 to over $100,000. However, these prices are not fixed and can vary depending on many factors.
2- Material Cost
Another major factor that affects the total cost of injection molding is material cost. This is the price of plastic or other raw material you melt and pour into the mold. Material cost mainly depends on the type of material. For example, there are several types of plastic, each with its specific properties and cost. Some of those include:
- Polypropylene (PP): It is a lightweight plastic and comparatively less costly. You can use it for everyday items such as caps.
- Polyethylene (PE): It is more flexible and durable than you can find in bags and bottles.
- Acrylonitrile Butadiene Styrene (ABS): It is tougher and shinier. This feature makes it suitable for toys and electronics. Also, it is more costly than the above.
- Polycarbonate (PC): This type is stronger and clearer. It is mainly used in lenses and safety equipment. Its cost is also high.
Have you understood how each type varies in cost and feature? If so, let’s discuss the next factor in material cost: how much material is required per part. The bigger the part, the more material will be needed, and it will definitely cost more, and vice versa. Lastly, recycled plastic and plastic blends also affect the material cost.
Instant Highlight: Remember that material prices change over time due to market demand, oil prices, and the supply chain. However, the estimated price of common plastics such as PP and PE is $1 to $2 per kg. Special plastics such as ABS and PC cost around $10 to $50 per kg or higher.
3- Design and Engineering Cost
Before you make any product, you will need to design it. The price required to design that product is referred to as design cost. So, to prepare the 3D model of products, special software CAD( Computer-Aided Design) is used. This software helps visualize the part and ensure it meets the specific requirements.
This design step requires special equipment, skills, and time, which costs more. Once your product design is ready, engineering costs will come. They figure out how to make the molding machine work efficiently. They also focus on the smooth flow of molten material through the mold and cooling time.
Also, sometimes, engineers make a prototype to check if the product is good. For this purpose, they might use 3D printing or do some plastic flow tests. These tests prevent problems later but cost more now. Lastly, the complexity of the design and the tight tolerance of the product also enhance injection molding prices.
Quick Highlight: As I said above, designing a 3D model of a product requires CAD software. Using this method costs $500 to $5,000 for a simple product. However, this cost will be high for intricate product design.
4- Labor Cost
Labor cost in injection molding is the money you have to pay the people who work on your project. For example, some machine operators run and monitor the molding machines. Some people check the quality and size of the parts, while some help pack the products. All these people are essential for ensuring the efficiency of the entire injection molding process.
If your products use simple molds and machines, they will need little labor. However, if you use something advanced like two-shot molds, they will require more skilled staff. In addition, labor costs vary with the industry’s location. For example, in the USA and Germany, the wages are high, so the labor cost is higher. However, countries like China and Vietnam have low wages, so labor costs are also reduced.
Lastly, automation and manual work also greatly affect labor costs. For example, some companies use robots and automated systems, such as CNC machining. These machines reduce the need for labor and save money. However, buying those machines and their maintenance can enhance the overall molding injection process.
Quick Takeaway: As mentioned above, labor costs depend heavily on location. On average, labor costs range between $15 and $50 per hour/part.
5- Production volume
Production volume refers to the number of parts you want to produce using injection molding. It plays a significant role in the overall cost, especially the cost per part. To identify separate costs, let’s divide the production volume into low, medium, and high volumes.
- Low Production Volume: Low volume means you make a small number of products, ranging between 10 and 1000 pieces. In this case, the cost per part increases. WHY? First, the mold and tooling costs remain the same. Also, the machining time and labor costs are still required. But you create a small number of products. For example, if a mold costs $5,000 and you make only 100 pieces, each part will cost about $50.
- Medium Production Volume: This is the mid-range option. In this range, you make about 1000 to 10,000 pieces. Although the cost of mold and machining is the same, it is spread over more pieces. For example, if the mold costs $5,000, you create 5,000 pieces of product. Now, each part carries only a $1 mold cost.
- High Production Volume: This is mass production, and you are making thousands to millions of parts. Now, the mold cost per part is very low. For example, if the mold cost is $5000 and you create 10,000 parts, each part will carry a $0.05 mold cost. That’s why large orders are usually much cheaper per unit.
6- Hidden or Extra Costs
People often discuss material, mold, labor, and tool costs in injection molding. However, several hidden costs are not always visible initially but add up in the end. For example, molds wear out due to extensive use.
As a result, you must repair or replace them with new ones, which increases the overall cost. Once your products are ready, they must be shipped to different locations. This includes shipping costs, customs duties for international delivery, and packaging. These costs are not included in the original molding injection.
Moreover, during production, not every part is created perfectly. Some parts may have cracks and surface defects. These wasted parts are thrown away, which increases overall material costs. This is called the scarp or rejection rate. You will probably skip this cost if you are new to injection molding.
Is Injection Molding Worth the Cost?
The answer is a big YES. At first, injection molding may sound expensive, but overall, it proves a cost-effective option. HOW? After you have paid the initial mold cost of your desired design, it’s far cheaper to create many parts. It proves very affordable for large production volumes. You can make thousands of products with the same mold cost and machinery setup.
Moreover, injection mold products have a very smooth surface. You don’t have to pass them through a further finishing process, saving post-processing money. The precision and durability of products also reduce the return rate and customer complaints. Thus, injection molding is always worth the investment.
Lastly, injection molding offers a variety of materials. For example, you can use plastic, rubber, and blends. This variety helps you choose the most reliable option for your needs. For instance, you can choose a cheaper material with a tight budget. Moreover, you can customize advanced materials in finish, color, and texture for high performance.
Point to Remember: Injection molding is not always cost-effective. In some situations, it might prove very expensive. Each part will cost more if you have a low production volume, such as 50 or 100. Moreover, suppose you are still testing ideas but not ready for high-volume production. In that case, injection molding is not a worthwhile option.
Ways to Reduce Injection Molding Costs
Injection molding can be expensive, especially if you are a beginner. But don’t let the cost scare you and stop your project. Here are a few smart tips to help you cut down injection molding expenses. Let’s jump right in!
- Simplify product design: Complex product design means expensive molds. Advanced features like deep ribs, sharp corners, and thin walls can increase tooling costs. Therefore, avoid unnecessary detailing and decoration. Keep your product design simple with a simple mold design.
- Choose Cost-Effective Materials: Some injection molding materials are more expensive. They offer special features and high-quality products. Still, some materials can be cheaper but provide good quality. Moreover, consider recycling plastic material if suitable.
- Use Family Molds: Family molds are types of mold that can create multiple parts at one time. This reduces the number of molds and their prices. Thus, if your product has multiple pieces, consider using family molds.
- Optimize the Mold Design: A well-designed mold smoothens the production process. However, a poorly designed mold can cause defects and product rejection. This can cause material waste. Thus, work with experienced mold engineers.
- Reduce Part Weight: A heavy part utilizes more material, increasing the material cost per part. Thus, avoid thick walls and use ribs and hollow sections to add strength. The lightweight of the product will reduce overall molding costs.
Conclusion
Injection molding is one of the most popular ways of producing different products. This method ensures precision and quality for everything from simple items to industrial tools. However, many people get confused about the cost of injection molding. Hence, I have discussed several factors that affect its overall prices in this article.
No doubt its initial prices are very high, but once set up, it is very efficient for large production. For example, once you have created the mold and machinery, it will produce thousands of parts simultaneously. In this way, the cost per part decreases. Lastly, in several ways, you can also reduce its prices. So, overall, injection molding is worth it.