According to a new market research report titled, “3D Printing PLA Market by Application (Consumer Products, Automotive Parts, Industrial Applications, Healthcare, Aerospace & 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.
The rising demand for bioplastics, favorable government initiatives, and the performance benefits of PLA are some of the major factors driving the 3D printing PLA market. Moreover, the rising adoption of PLA in the healthcare sector provides significant growth opportunities for players operating in the 3D printing PLA market. However, the high cost of PLA and the lack of awareness and technical knowledge regarding 3D printing are obstructing the growth of the market to some extent.
The major trends that are expected to affect the 3D printing PLA market are increasing number of large chemical companies have started developing their 3D printing materials, increasing focus on environmental conservation, rising adoption in institutional engineering departments to create visual models of components for training and education purposes, and high consistency of material and ease of use with a wide variety of colors.
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COVID-19 Impact 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 has also affected businesses ranging from small to large scale, particularly the healthcare sector, due to severe shortages of medical equipment and hospital beds.
The global demand for 3D printing PLA is expected to witness a significant increase in the healthcare sector. There have been recent initiatives and collaborations by 3D printing companies, hospitals, government organizations, and researchers to utilize the capabilities of 3D printing. As the countries were largely unprepared for such a pandemic, there have been acute shortages of 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 methods for bolstering medical equipment supply, particularly ventilators. These methods include developing new, cutting-edge ventilators, where a single ventilator can cater to multiple patients using a 3D printed ventilator splitter.
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The 3D printing industry rapidly adapted to COVID-19 crisis requirements, and various companies have shared several compatible and ready-to-print 3D models, including masks and face shields of different designs and properties. The most common 3D printing technologies used for printing medical equipment, such as masks, face shields, and PPE kits are stereolithography (SLA) and Fused Deposition Modelling (FDM). The primary reason for using these technologies is the popularity of SLA and FDM 3D printers and the low cost of printing.
The most common material used for 3D printing of masks, face shields, and PPE kits is Polylactic Acid (PLA), as PLA requires low printing temperatures and warps less than ABS or PET. The need for high-speed and low-cost printing, easy availability, and ease of use encouraged the use of PLA. Moreover, PLA has good printing properties with minimal or no contamination, enabling FDM printers to print at very high speeds. Also, 3D printed PLA products can be disinfected and reused, making it cost-effective.
Based on application, the 3D printing PLA market is segmented into 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 applications.
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The healthcare segment is projected to grow at the highest CAGR during the forecast period. The factors attributed to the growth of this segment are rising adoption of 3D printing in medical and dental sub-industries, allowing medical professionals to provide patients with new forms of treatment, thereby driving the demand for PLA filaments used for the development of new surgical cutting and drill guides, prosthetics, and the creation of patient-specific replicas of bones, organs, and blood vessels. Apart from these, it allows for custom parts tailored to each individual, improving the user experience. However, the consumer product segment is expected to hold the largest share of this market during the forecast period.
Based on the type of consumer products, the 3D printing PLA market is segmented into electronic components, jewelry, artistic items, and other products. During the forecast period, the electronic components segment is projected to grow with the fastest CAGR. The high growth in this segment is majorly attributed to the rising demand for sustainable and eco-friendly electronic components, increased agility in the development & manufacture of electronics products, and reduced time to market.
Moreover, the use of 3D printing technology in consumer electronics applications helps in the in-house development and prototyping of PCBs, allowing designers to create fully-functional electronic devices and prepare for full-scale manufacturing. This segment is also expected to hold the largest share during the forecast period.
The equipment & machines segment is projected to grow at the highest CAGR during the forecast period based on industrial applications. The high growth of this segment is mainly attributed to the agility and flexibility offered by 3D printing technology for prototyping and producing equipment & machines used for industrial applications. Moreover, this technology offers agile tooling, reduces the lead times required in manufacturing processes, and boost operational productivity, which drives the demand for 3D printing PLA in industrial equipment & machine applications. The equipment and machine segment is also expected to hold the largest share of the 3D printing PLA market during the forecast period.
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This research report analyzes major geographies and provides a comprehensive analysis for North America (U.S. and Canada), Europe (Germany, the U.K., France, Italy, Spain, Russia, and the Rest of Europe), Asia-Pacific (Japan, China, South Korea, India, and RoAPAC), Latin America, and the Middle East & Africa. In 2020, North America is projected to command the largest share of the global 3D printing PLA market, followed by Asia-Pacific and Europe. The large share of the North American region is majorly 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. In addition, there is a high demand for 3D printing in aerospace & defense applications in the North American region as it’s the largest consumer of aerospace & defense products and services. This market holds significant opportunities for PLA filament providers as these filaments are used for prototyping and manufacturing weapons and spare parts.
However, the Asia-Pacific region is expected to grow at the fastest CAGR during the forecast period. The increasing adoption of digitalization strategies across the developing nations, the booming consumer products market, and the growing adoption of 3D printing in the healthcare, construction, and education sectors are the major reasons attributed to the high growth of this region during the forecast period.
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) among others.
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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
- 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
