3D Printing PLA Market by Application (Consumer Products, Automotive Parts, Industrial Applications, Healthcare, Aerospace and Defense, Others) And Geography - Global Forecast To 2027

The 3D Printing PLA Market is expected to grow at a CAGR of 19.8% from 2020 to 2027 to reach $818 million by 2027. 3D printing has been evolving rapidly and is expected to provide an ideal alternative to manufacturing processes. PLA (Polylactic acid) material is effective in designing prototypes for equipment and machines. PLA is derived from natural sources, such as sugarcane and corn starch, making it environment-friendly and cost-effective. This technology is used across various industry verticals, such as automotive, food packaging, and consumer goods. 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. Additionally, the rising adoption of PLA in the healthcare sector provides significant growth opportunities for players operating in this market.

Rising demand for bioplastics to propel market growth

Bioplastics help in eliminating the amount of waste emerging from 3D printing discards. Hence, they are used in many different projects, from marine applications to medical implants to manufacturing. PLA filament has wide adoption in 3D printing because it is made from renewable products, such as corn starch and sugarcane. It is biodegradable and does not release toxic fumes when oxygenated. Hence, PLA is gradually replacing traditional polymers, such as Polypropylene, Polystyrene, and ABS.

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Favorable government initiatives to support market growth

Governments are undertaking initiatives to support the use of bioplastics and provide subsidies to encourage bio-degradable products. The rising environmental concerns have increased awareness regarding the environmental benefits of PLA. Governments in various countries are focused on encouraging sustainable products across industries to reduce carbon dioxide emissions, which has led to the introduction of various initiatives that include incentives, tax credits, and subsidies. Moreover, rising investments by private and public organizations in the research & development of bioplastics are likely to support the growth of the 3D printing PLA market.

Impact of COVID-19 on the 3D Printing PLA market

The effect of COVID- 19 has had a wide-scale impact on the daily life of the common man, and it has significantly affected the healthcare sector due to severe shortages of critical medical equipment, such as masks, face shields, PPE kits, ventilators, and hospital beds.

The 3D printing industry has rapidly adapted to COVID-19 crisis requirements, and the global demand for 3D printing PLA is expected to witness a significant increase from the healthcare sector. 3D printing technology can boost the supply of medical equipment, particularly ventilators. There have been recent initiatives and collaborations by 3D printing companies, hospitals, government organizations, and researchers to utilize the capabilities of 3D printing for manufacturing critical medical equipment, including masks, face shields, PPE kits, and hoods for non-invasive ventilation in CPAP/PEEP respiratory support. For instance, 3D printing companies have developed cutting-edge manufacturing ventilators, where a single ventilator can cater to multiple patients using a 3D printed ventilator splitter.

Although a dramatic shortage of PLA filaments is observed in the 3D printing industry amidst the rising demand for medical devices, the supply chains have not reacted quickly enough to deliver PLA filaments where necessary. The exponential growth in demand for medical equipment during the COVID-19 pandemic is expected to create immense opportunities for companies operating in the 3D printing PLA market in the coming years.

Key Findings in the 3D Printing PLA Market Study:

During the forecast period, the consumer products segment is expected to hold the largest share

Based on application, in 2020, the consumer products segment is projected to account for the largest share of the 3D printing PLA market. The large share of this segment is mainly attributed to the booming consumer electronics industry & advancements in technology and the growing need to develop customized products, increasing in-house production. Moreover, 3D printing technology aids the functional prototyping, design, tooling, and series part production of consumer products, thereby driving the adoption of 3D printing technology to develop consumer products.

The electronic component segment is expected to hold the largest share during the forecast period

Based on the type of consumer products, the electronic components segment is poised to command the largest share of the 3D printing PLA market in 2020. The factors attributed to the large share of this segment are 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.

The equipment & machines segment to lead in terms of market share through 2027

Based on the type of industrial applications, the equipment and machines segment is expected to command the largest share of the 3D printing PLA market. The large share of equipment and machine segment is majorly attributed to the wide and adoption of 3D printing PLA in the designing prototyping of equipment and machines owing to its sustainable and eco-friendly nature, emphasis on enhancing the strength of the filament to allow for flexibility in production and prototyping of machines, and reduction in lead time allowing inexpensive production of a product in much smaller volumes or on a case-by-case basis.

The Asia-Pacific region is poised to grow at the fastest CAGR during the forecast period

The high growth of 3D Printing PLA in the Asia-Pacific region is majorly attributed to the robust industrial base, increased funding for research & development, and government-led strategies & policies, such as digitalization Industry 4.0. Moreover, the increasing adoption of digitalization strategies across developing nations, the booming consumer products market, and the growing adoption of 3D printing in the healthcare, construction, and education sectors provide significant growth opportunities for 3D printing PLA in the Asia-Pacific region. The North American region is expected to lead the market in terms of market share during the forecast period.

Key Players

The report includes a competitive landscape based on an extensive assessment of the key strategic developments adopted by leading market participants in the industry over the past three years. The key players operating in the 3D printing PLA market are 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).

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
• Healthcare
• Aerospace & Defense
  • Prototype Weapons
  • Body & Spare Parts
• Other Applications

3D Printing PLA Market, by Geography

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia-Pacific (APAC)
  • Japan
  • China
  • South Korea
  • India
  • Rest of Asia-Pacific (RoAPAC)
• Latin America
• Middle East and Africa

Key questions answered in the report-