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The injection molding industry is changing rapidly. With the times moving once more, it’s worth looking into the trends that drive change the most.
Automation has become one of the most critical drivers of this age’s industrialization. As expected, it has transformed the injection molding space as well. However, it’s worth noting that this space has been exceptionally quick in adopting this trend.
In the business of making plastics, two of the most important costs to consider and labor and energy. To compete effectively, a company will need to find ways to boost worker productivity and reduce their operations costs in the long term.
Automation has shown great promise in boosting the efficiency of production from a labor and cost perspective. However, it is still important to deploy a pool of skilled labor to effectively manage automation and other operations.
In a bit to improve environmental sustainability and eco-friendliness, the injection molding space has been working to reduce the consumption of energy and move into the creation of recyclable, bio-degradable products.
This move has been helped significantly by the growth of engineering innovation. Newer injection molding tools now use about 10 to 50 percent less energy compared to the products made a decade ago.
Concerned injection molders have also worked to reduce the number of scrap plastics that they make in the molding process. For instance, some have devised means to get scrap material and repurpose it – in addition to regular recycling. By taking steps to implement sustainable practices, the industry can save thousands of pounds in materials from ending up in landfills.
A lot of companies are also implementing means to balance their use of traditional plastics and biodegradable options. Some have also moved into developing plastics with materials like corn, soybeans, and flax. By doing this, they can reduce fossil fuels and the negative environmental impacts of their traditional working processes.
Manufacturers looking for more low-cost means of conducting their operations will appreciate this one.
By outsourcing injection molding and the processes involved, companies can significantly reduce costs. Reports have shown that the cost difference between injection molding several parts in North America and Asia is quite small since the labor components are negligible. Electricity is so far one of the most critical elements of injection molding, and for now, power costs are universal.
So, what is the reason for the push in nearshoring?
The answer is simple – shipping. A lot of companies have noted that shipping items associated with manufacturing into other countries are increasing. Due to this, they’ve chosen to re-evaluate their strategies and look into shipping from locations that are closer to home.
Companies that decide on nearshoring will be able to deliver faster, more reliably, and save a significant amount of money. So, it is important to establish progressive relationships with injection molders who can partner in manufacturing and developing your products.
It is expected that more companies will be embracing the nearshoring trend soon.