Material Cost Estimation and Optimization in Engineering Design

Material cost constitutes a significant portion of the total manufacturing cost in engineering design and production. Accurate prediction and control of material expenses during the design phase are critical for ensuring cost-efficiency and competitiveness, especially in high-volume manufacturing industries. This paper presents a systematic methodology for calculating material cost based on part geometry, material selection, density, and market rate per unit weight or volume. A case study involving the redesign of a mechanical component—specifically a connecting rod small end—is used to demonstrate the approach. The study evaluates the influence of different material choices (e.g., forged steel, aluminum alloy, and titanium) on overall cost, while also considering performance parameters such as strength-to-weight ratio and fatigue life. CAD-based volume measurements and material density data were used to estimate the component mass, which was then multiplied by current market prices to derive a comparative cost analysis. The findings indicate that a well-balanced selection of geometry and material can result in substantial savings without compromising functional requirements. This research contributes to cost-aware engineering practices by integrating material economics into the early design decision-making process.