(MENAFN- GetNews) 3D Printing PLA Market by Application (Consumer Products, Automotive Parts, Industrial Applications, Healthcare, Aerospace and Defense, Others) And Geography – Global Forecast To 2027
3D Printing has been evolving rapidly and is expected to provide an ideal alternative to manufacturing processes. 3D printing PLA (Polylactic acid) material is very effective in designing prototypes for equipment and machines. PLA is derived from natural sources, such as sugarcane and corn starch, making them environment-friendly and cost-effective. This technology is used across various industry verticals, such as automotive, food packaging, and consumer goods. In its latest publication on the 3D printing PLA Market, Meticulous Research states that the market will increase at a CAGR of 19.8% from 2020 to 2027 to reach $818.0 million by 2027.
The growth of the 3D printing PLA market is mainly attributed to the rising demand for bioplastics, favorable government initiatives, and the performance benefits of PLA. Moreover, the rising adoption of PLA in the healthcare sector provides significant growth opportunities for players operating in the market.
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Scope of the Report
3D Printing PLA Market, by Application
- Consumer Products
- Electronic Components
- Jewelry, Artistic Items, and Other Products
- Automotive Parts
- Industrial Applications
- Equipment & Machines
- Goods & Materials
- Aerospace & Defense
- Prototype Weapons
- Body & Spare Parts
- Other Applications
3D Printing PLA Market, by Geography
- North America
- Rest of Europe
- Asia-Pacific (APAC)
- South Korea
- Rest of Asia-Pacific (RoAPAC)
- Latin America
- Middle East and Africa
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To provide efficient analysis, Meticulous Research segmented this market based on application [consumer products (electronic components, jewelry, artistic items, and other products), automotive parts, industrial applications (equipment & machines and goods & materials), healthcare, aerospace & defense (prototype weapons and body & spare parts), and other) and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa)].
Based on application, in 2020, the consumer products segment is projected to command the largest share. The large share of this segment is primarily attributed to the booming consumer electronics industry and advancements in technology resulting in the periodic release of consumer products, such as smartphones, wearables, and smart home systems.
In 2020, North America is expected to command the largest share of this market, followed by Asia-Pacific. The major share of North America is mainly attributed to the early adoption of this technology, the presence of key players, well-established infrastructure, and increasing acceptance of 3D printing PLA across various industries. Moreover, North America has a high demand for 3D printing in aerospace & defense applications.
Further, in terms of consumer product type, the electronic components segment is projected to command the largest share of the global 3D printing PLA market in 2020. The large share of this segment is mainly attributed to the rapidly growing adoption of PLA in the manufacturing of electronic components and the rising demand for sustainable and eco-friendly electronic components. Moreover, 3D printing is widely adopted in the consumer electronics industry to increase agility in the development & manufacture of consumer products, reduce the time to market, and boost manufacturing efficiency.
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The report provides competitive intelligence in terms of financials, growth strategies, product portfolios, and geographical presence on some of the key players in this market, including Stratasys Ltd. (Israel), Colorfabb B.V. (Netherlands), Ultimaker B.V. (Netherlands), Polymaker (China), Torwell Technologies Co. Ltd. (China), Matterhacker Inc. (U.S.), Evonik Industries AG (Germany), BASF SE (Netherlands), Zortrax (Poland), Fillamentum (Czech Republic), Sculpteo (France), Formfutura (Netherlands), IC3D Inc. (U.S.), Protoplant Inc. (U.S.), and Amolen (China).
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