Omar Khalid
Plastic is one of the cheapest materials around. Its low price tag, however, does not account for the costs of plastic pollution, which are largely invisible and often borne by governments, people, and the planet. The production of plastic parts is a common manufacturing process, with plastics being used in almost every major industry. The cost of plastic manufacturing depends on several factors, including the type of plastic, the size of the mold, and the number of cavities in the mold. While plastic may be inexpensive to produce, the lifetime cost of plastic pollution is significant, with the cost of plastic produced in 2019 estimated to be around US$3.7 trillion.
| Characteristics | Values |
|---|---|
| Plastic is cheap to produce because | It is used in high-volume manufacturing due to the consistency of parts and the wide range of mechanical properties available through plastic material selection. |
| It is versatile and allows for design changes without the need for a new mold. | |
| Poured polyurethane is an inherently cheap way to mold plastic. | |
| Aluminum molds are cheaper than other plastic molds. | |
| The cost of plastic production does not account for | The cost of waste management. |
| The cost of damage to marine ecosystems. | |
| The cost of greenhouse gas emissions. | |
| The cost of plastic to society, the environment, and the economy is | At least 10 times higher than the market price of virgin plastic. |
| The global cost of plastic produced in 2019 | US$3.7 trillion. |
| The cost of plastic produced in 2040 | US$7.1 trillion. |
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What You'll Learn
Plastic is cheap to produce and used in most industries
Plastic is one of the cheapest materials available, which is why it is so widely used across industries. Its low cost has led to its use in everything from medical equipment to electronics, housewares, and automotive parts.
The low price of plastic is reflected in the fact that companies often give plastic products away as promotional items. However, the price tag on plastic products does not account for the many invisible costs that are ultimately paid for by governments, people, and the planet. These include the cost of greenhouse gas emissions, waste management, and damage to marine ecosystems. The lifetime cost of plastic produced in a single year is estimated to be in the trillions of dollars.
Despite these hidden costs, plastic remains an attractive material for manufacturing due to its versatility and cost advantages. For example, in high-volume manufacturing, plastic is favoured for its consistency and the wide range of mechanical properties available through different types of plastic.
The cost of plastic parts is determined by several factors, including the number of cavities in the mold and the sales forecast. Manufacturers charge an hourly rate for the molding machine, which is then converted to a cost per part for the customer. Setup fees are also typically charged, though these usually only cover the manufacturer's expenses rather than providing a profit margin.
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Setup fees for moulding machines are costly for manufacturers
Plastic is one of the cheapest materials around. It is used in high-volume manufacturing due to the consistency of parts and the wide range of mechanical properties available through plastic material selection. However, the setup fees for moulding machines are costly for manufacturers.
The setup fee charged typically doesn’t provide profit to the manufacturer. The manufacturer is only seeking to cover their expenses, as customers tend to be averse to a large setup charge. The manufacturer does everything possible to minimize the number of setups because they are expensive and disruptive to normal manufacturing.
The upfront costs of creating the moulds are high. These moulds are typically made of hardened steel, aluminium, or another metal, and they are precision-machined to produce parts that are dimensionally accurate and have a smooth surface finish. The cost of manufacturing complex moulds with intricate shapes and features can also be higher. It may take longer to manufacture moulds with deep cavities, thin walls, and other complex features due to the need for more advanced machining processes.
The cost of injection moulding is influenced by the size and complexity of the mould, the material used to make the mould, and the number of cavities in the mould. The more units created with a mould, the cheaper the price per unit becomes. The initial design and mould build are typically the most expensive upfront costs in injection moulding. The mould must be tested to ensure that it produces high-quality parts in large quantities and with minimal defects, which requires costly additional machinery and personnel.
Large, industrial plastic injection moulding machines can cost over $200,000 and have additional costs related to skilled labour training, maintenance, monitoring, and industry regulations. These machines are reserved for high-volume orders. The cheapest option is a small desktop injection moulding machine, which is perfect for in-house projects and producing low volumes of parts.
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Plastic moulds are cheaper than aluminium moulds
Plastic is widely regarded as one of the cheapest materials around. Its low cost makes it an attractive option for companies, which often use it for promotional gimmicks and giveaways. The affordability of plastic is due to the low cost of raw materials and the efficiency of its manufacturing processes. Injection moulding, for instance, is a highly efficient process that contributes to the overall cost-effectiveness of plastic production.
However, the affordability of plastic comes at a significant environmental cost. The process of extracting and refining plastic has a substantial environmental impact, which is often overlooked when considering the cheap price tag of plastic products.
When it comes to mould fabrication, plastic moulds are generally cheaper than aluminium moulds. Aluminium moulds are preferred for large-scale production due to their ability to reduce production time and costs associated with plastic injection moulding. However, aluminium moulds are more expensive to produce than plastic moulds, as aluminium is a more costly material with higher production costs. The production process for aluminium moulds also requires more time and energy, as it involves the extraction of aluminium from bauxite ore, which is an energy-intensive process.
In contrast, plastic moulds can be produced in a shorter time frame, typically within three to four weeks. This faster production time contributes to the overall cost-effectiveness of plastic moulds. Additionally, plastic moulds are ideal for high-volume manufacturing due to the consistency of parts and the wide range of mechanical properties available through plastic material selection.
While aluminium moulds have their advantages, such as faster cooling times and greater heat dissipation, they are not as cost-effective as plastic moulds for initial production runs. Aluminium moulds are more suitable for large-scale manufacturing where speed and efficiency are crucial, but for smaller or moderate-sized production runs, plastic moulds offer a more affordable option.
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Plastic production costs are driven by sales forecasts
Plastic is one of the cheapest materials available. It is so cheap that companies often use plastic products as promotional gimmicks, giving them away for free. However, the low price of plastic products does not account for the environmental and societal costs of plastic pollution.
Plastic part pricing is determined by manufacturing costs and sales forecasts. Manufacturers charge an hourly rate per molding machine, which is then converted to a cost per part for the customer. The setup fee charged by the manufacturer typically only covers expenses, as customers tend to be averse to large setup charges. Manufacturers will do everything possible to minimize the number of setups, as they are expensive and disruptive to the manufacturing process.
The number of cavities in a mold is driven by sales forecasts. A mold fabrication strategy is developed to meet sales projections, and the number of cavities is determined by this strategy. For example, an 8-cavity mold will provide approximately 5 million parts per year, while a 32-cavity mold will provide approximately 20 million parts per year. The part price per cavity may be attractive, but investing in a large mold may not make financial sense or be feasible in terms of capacity.
The cost of the mold is also driven by its overall size. To keep costs down, it may be possible to break a product design into sections so that the mold is smaller, and then assemble the pieces as a secondary operation.
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Plastic's market price ignores its environmental costs
Plastic is one of the cheapest materials around. Companies often give it away as promotional items. However, the price of plastic products does not account for a lot of costs that are largely invisible, and for which governments, people and the planet are ultimately footing the bill.
In a groundbreaking piece of research, WWF and global consultancy firm Dalberg have worked together to estimate the true cost of plastics to society and the environment. The report, titled "Plastics: The cost to society, environment and the economy", highlights how fragmented regulatory approaches, misplaced incentives, and a lack of coordinated technical resources, financial support, and consistent data on plastic leakage are currently costing the Earth. The report demonstrates that governments and citizens are unknowingly subsidizing a plastic system that is imposing countless negative impacts on people and the environment.
The analysis shows that the cost of plastic to society, the environment, and the economy is at least 10 times higher than the market price of virgin plastic. The lifetime global cost of plastic for just one year is more than the GDP of India. The social and environmental costs are estimated at USD 300–460 billion per year, including the health costs stemming from associated emissions, air pollution, and exposure to hazardous chemicals, as well as the cost of ocean cleanup and lost marine ecosystem services. The cost of inaction is high, but if an agreement is reached, we can mobilize a major reduction in the environmental and social costs associated with the plastics economy and its supply chain.
To put this into context, the lifetime cost of plastic produced in 2019 that becomes marine plastic pollution will incur a minimum cost of ~US$3.1 trillion (+/- 1 trillion) over its lifetime in the ocean, equivalent to ~60% of global spending on education in 2019. These costs are set to double for the plastics produced in 2040 at US$7.1 trillion, equivalent to 85% of global spending on health in 2018 and greater than the GDP of Germany, Canada, and Australia in 2019 combined.
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Frequently asked questions
The cost of plastic production varies depending on the specific process and materials used. However, plastic is known to be one of the cheapest materials around, which is why it is so widely used. The cost of plastic production typically includes the price of the mould, the hourly rate of the moulding machine, and the cost of the plastic material itself.
The cost of plastic production is influenced by several factors, including the number of cavities in the mould, the size of the mould, and the sales forecast for the product. A larger mould with more cavities will generally be more expensive but can also produce a higher volume of parts, which can reduce the cost per part.
The societal cost of plastic produced in a single year (2019) was estimated to be US$3.7 trillion, which is more than the GDP of India. This cost includes the impact of plastic pollution on the environment, the economy, and society. The lifetime global cost of plastic produced in 2019 as marine plastic pollution was estimated at US$3.1 trillion.
