NEW YORK, May 6, 2019 /PRNewswire/ -- Global Polylactic Acid (PLA) Market for 3D Printing Anticipated to Reach $504.7 Million by 2028
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The introduction of 3D printing technology has not only enhanced the efficiency of designing and production process on a large-scale in various industries, but it also led to more creativity amidst users such as hobbyists and students on a smaller scale.The research study highlights the potential of PLA material in the 3D printing industry and its consumption pattern across different segments.
The favorable properties of PLA have given the users the opportunity to explore and innovate their products in multiple end-user industries such as automotive, healthcare, and food packaging. The growth of PLA is attributed to its bio-based origin, reliable properties, and cost-effectiveness as compared to that of the other materials that are used for 3D printing.
The global PLA market for 3D printing is estimated to witness growth at a CAGR of 19.30% over the period of 2018 to 2028. This growth in the market is attributed to the increasing demand from various end-use application verticals such as automotive industry, food packaging industry, healthcare, and household items.
The report is a compilation of different segments of the global polylactic acid market for 3D printing, including market breakdown by user type, diameter type, application, and region. Herein, the revenue generated from the user type (industrial, hobbyist, and education), diameter types (1.75 mm and 3 mm or 2.85 mm), application (automotive, food packaging, healthcare, household items and others) and regions (North America, Europe, Asia-Pacific, Middle East and Africa, and South America) are tracked to calculate the overall market size in terms of value ($million). While highlighting the key driving and restraining forces for this market, the report also provides a detailed summary of the global polylactic acid market for 3D printing. It also includes information on the key participants involved in the industry in the relevant sections.
Key questions answered in the report:
• What is the global polylactic acid (PLA) market size in terms of value and volume from 2017-2028, and what are the year-on-year growth rates and the CAGR from 2018 to 2028?
• What are the different user types that use PLA and their growth pattern in terms of value and volume for the forecast period?
• What are the major end-user industries for global PLA for 3D printing market in terms of revenue generation and consumption across different regions and countries?
• What is the consumption pattern of PLA for 3D printing market in different diameter range?
• Which are the major regions and countries that provide growth opportunities for the PLA market?
• What is the competitive strength of the key players in the PLA market on the basis of their recent developments, product offerings, and regional presence?
• Who are the key players (with their detailed analysis and profiles including their financials, company snapshots, key products and services, and SWOT analysis) in the market?
The report further includes a thorough analysis of the impact of the Porter's Five Forces Analysis to understand the overall attractiveness of the industry.The most commonly used strategy for developing a better hold on the market has been product launches between the period August 2015 to March 2019.
Moreover, the company profile section highlights significant information about the key companies involved along with their financial positions, key strategies, and developmental activities of recent years.
Further, the report includes an exhaustive region-wise analysis that includes an analysis of North America, Europe, Asia-Pacific (APAC), Middle East & Africa, and South America.Each region details the individual push and pull forces in addition to the information on the key players from that region.
This report is a meticulous compilation of research on more than 100 players in the global PLA market and draws upon the insights from in-depth interviews with the key opinion leaders of more than 50 leading companies, market participants, and vendors. The report also profiles approximately 15 suppliers with their financial analysis, SWOT, and product portfolio.
The companies profiled in the report are FUTERRO S.A., NatureWorks LLC, Stratasys Ltd., Synbra Technology bv, Total Corbion PLA, ZHEJIANG HISUN BIOMATERIALS CO., LTD., ColorFabb BV, Fillamentum Manufacturing Czech s.r.o., HATCHBOX 3D, Innofil3D BV, MakerBot Industries, LLC, Polymaker LLC, Shenzhen Esun Industrial Co., Ltd, Torwell Technologies Co., Ltd, and Ultimaker B.V.
The introduction of 3D printing has added a new dimension to the manufacturing industry by increasing the efficiency of the manufacturing process. The advancement in the 3D printing industry has provided high growth opportunities for 3D printing services, printers, consulting service providers, and the materials used in the 3D printing process. The investment in the 3D printing market has grown extensively and will continue to grow in the near future, leveraging the advantages of an increasing demand for, and competitive research conducted internationally on, energy-efficient and fast manufacturing processes. The rapid prototyping has specifically increased the demand for various 3D printing plastic materials.
PLA is the most widely used 3D printing plastic filament across the globe.PLA is considered the easiest 3D printing material to work with.
The plastic material requires minimal energy to process and its bio-based nature assures its high utilization in the coming future.It is used in the resin form or in the filament form in the fused deposition modeling (FDM) process.
One of the major driving factors for the global PLA market is that it is bio-based, i.e. made from renewable resources. The depletion of fossil fuel reserves raises concerns regarding climate change and increased carbon footprint. These factors are acting as a major push and pull factor behind the acceptance of bio-based materials such as PLA. Governments have been spending heavily on research and development to find a sustainable, environment-friendly packaging alternative. The use of PLA is predominant in the packaging industry. Some of the most common applications of PLA include plastic films, bottles, and biodegradable medical devices. Apart from all these, it is used in disposable garments, trays, and as fillers in upholstery due to its environment- friendly chemical profile. It is also widely being used in the healthcare industry, majorly in the production of sutures and stents via 3D printing process. The increasing popularity of 3D printing technology is expected to enhance the demand for PLA material which is further anticipated to cater to many other application areas apart from the existing ones.
In terms of value, the global PLA market for 3D printing is expected to grow at a CAGR of 19.30% during the forecast period 2018-2028. The high growth of PLA is attributable to its bio-based origin and ease of use coupled with added functionalities over other 3D printing materials. Huge investment by governments and federal agencies to promote bio-based plastic materials is further propeling the growth of PLA material across multiple end-user industries.
Key application area that contribute to the global PLA market include food packaging, healthcare, household items, and automotive, among others.In terms of application type, food packaging is acquiring the largest market size in the current scenario.
The major reason for the adoption of PLA in the packaging industry is due to the increased consumer awareness regarding the need to reduce dependency of fossil fuel reserves. Food and Drug Administration (FDA) has also approved PLA as Generally Recognized as Safe (GRAS) material which facilitates its usage in beverage and food packaging.
Additionally, with the incorporation of trends such as Internet of Things in industries that aid digitalization of the manufacturing process, greater adoptability of 3D printing technology can be achieved.
The key players operating in this market have increased their product launch activities over the recent years to generate public awareness about their existing and new products and technologies and to compete with the competitors' product portfolio. Driven by the rapid evolution of the 3D printing technology, there has been a swift growth in the research and development activities by several important players in this market, leading to an increase in the number of business expansions over the last four years.
Some of the key players operating in the PLA market include ColorFabb BV, Fillamentum Manufacturing Czech s.r.o., HATCHBOX 3D, Innofil3D BV, MakerBot Industries, LLC, Polymaker LLC, Shenzhen Esun Industrial Co., Ltd, Torwell Technologies Co., Ltd, Ultimaker B.V., FUTERRO S.A., NatureWorks LLC, Stratasys Ltd., Synbra Technology bv, Total Corbion PLA, and ZHEJIANG HISUN BIOMATERIALS CO., LTD.
• North America
• South Korea
• Australia and New Zealand
• Middle East and Africa
• Saudi Arabia
• South Africa
• Rest-of-Middle East and Africa
• South America
• Rest-of-South America
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