Starting an injection molding business might feel daunting if you’re not sure where to start or what is required. To simplify the entry into this industry, we have compiled a list of essential steps for launching an injection molding business.
Identify a Specific Market Focus
Today’s plastic injection molding companies create a diverse array of products for various industrial sectors. These sectors include pharmaceuticals, medical devices, automotive, telecommunications, electronics, food and beverage, packaging, construction, and more. Given the multitude of niches available, it is important to select a particular market focus. This allows you to create a company that specializes in manufacturing molded components for a specific industry, such as medical devices.
Select the Appropriate Injection Molding Technique
It’s important to recognize that there are several types of injection molding techniques, and choosing the right one can lead to greater profitability. Common techniques include plastic injection molding, foam injection molding, liquid silicone injection molding, metal injection molding, and 3D printing. Depending on the products your business aims to manufacture, you can easily select the most suitable injection molding technique.
Design the Plant Layout
The layout of your manufacturing plant is crucial for the successful launch of your molding business. Ensure that your production facility has ample space to accommodate all injection molding equipment and a cleanroom setup. Additionally, it’s essential to create designated areas for testing molded items and storing finished products.
Mold Development
Mold development plays a vital role in ensuring your molding company provides clients with accurate, high-quality parts. It’s advisable to engage mold design and tooling professionals to address your business’s mold development needs.
Choose the Right Injection Molding Machine
There is a wide range of molding machines available, including CNC machining, electrical discharge machines (EDMs), drilling, and milling equipment. Therefore, it’s best to select machinery that aligns with the products your business will produce. Steer clear of inexpensive machines, as they may malfunction in a short period. Opt for durable, high-quality equipment instead.
Evaluate Costs
Calculate the total expenses involved in establishing your injection molding business, including costs for equipment, tooling, facilities, and labor. Once you have a clear estimate, determine the pricing for your injection molded products to ensure that your revenue covers these costs.
Procure Raw Plastics
There are various raw plastic materials suitable for the injection molding process, such as acrylonitrile butadiene styrene (ABS), silicone, and polypropylene. However, it’s best to source only medical-grade raw materials from reputable suppliers that can ensure the quality and reliability of the materials.