The thing you need to know when you invest in a new business in the plastic industry.
“The global injection molding machine market size was $15.39 Bn in 2019 & is projected to reach $20.49 Bn by 2027, at a CAGR of 4.1% in forecast period”
The plastic injection molding industry is not known by many people, especially those who are new to this industry. It’s not easy to understand and find the right way to go. Below is the guideline for you:
- Find the niche market and focus on it
I would suggest looking at the local market. What are they offering? There are many products in the injection molding industry, such as agricultural components, bottle caps, household products, toys, machinery and automotive parts, plastic cutlery, etc.
- Scientific plant layout
If you want to set up a plastic injection molding business, you need an area to arrange the place for an office, molding machine, storage of material, quality control, and mold maintenance and repair.
- Find a right mold manufacturer
Finding a good mold manufacturer is the most important part that in your injection molding business. As it will affect your investment cost, product quality, the product lead time to the market, etc.
If you need a quote, the manufacturer might ask you your product shape&size, the cavities, mold material, runner system, etc. Oh my, too complicated, I’m stupid about it, what should I do? No worries, I can tell you an easy solution. You can just tell the mold supplier that
- what product do you want to produce
- how many pcs of the product do you need per year and in the future
A good supplier will find the most cost-effective way for you, even sharing the information about the recommended plastic material, the injection molding machine, the automation solution, and auxiliary machine, etc.
With the above elements, you can at least get an estimated idea and price as a green hand in the plastic injection molding industry. This is not an easy business, but at least you have already taken the first step.
If you need more information about the idea of the plastic industry, feel free to contact us.
Our company specializes in the plastic industry since 2008, and provide
- Injection molding robot& IML system
- Mold for plastic cutlery & food container
- Automation packing system for plastic cutlery
