Polyactic acid, also known as PLA remains an iconic addition to the technological advancement of 3D printing. 3D printing has moved out of the futuristic horizon space, to bring good fortunes for several key sectors in practice, including construction, medical, automotive, and aerospace, and defence. The PLA remains the top leading additive products to provide the much need manufacturing prowess to 3D printing along with cost, and recycling advantages. The PLA products offer capabilities like low-temperature manufacturing calibre, higher strength, and stiffness as compared to close alternatives like ABS, and Nylon. The growing demand for 3D printing to engage in rapid prototyping, adoption of 3D printing by large players like Boeing, Airbus, and GE remains a major promise for growth for the polylactic acid market during the forecast period.
3D today has moved beyond rapid prototyping. However, its rapid prototyping application is ideal for sectors like Aerospace & Defence, wherein the technology enables complex construction on small scales, with complex geometrics to produce rapid, and low-cost designs. Moreover, the technology delivers more manufacturing control to OEMs as different locations around the world can guide product development with key prototyping, and cost-effective manufacturing. The 3D printing also promises to solve a core demand, and necessity for the sector, with development of lightweight, and small parts to bring more fuel-efficiency to aerial transport. Moreover, 3D printing is currently being used by large companies to engage in constant repairs, and maintenance activities for aircrafts. Technologies like Direct Energy Composition promises to restore high-end equipment like turbine blades in a cost-effective manner with additive manufacturing. The growing demand for lightweight materials, continuous material innovation, and growing adoption of 3D printing will promise tremendous growth for players in the polylactic acid market in the aerospace, and defence market.
The rising demand for major prosthetics, and limited expansion of cost-effective, and timely treatments for disabled individuals remains a major challenge in the healthcare sector. CDC or Center for Disease Prevention, and Control estimates that there are over 60 million disabled individuals in America. Moreover, the CDC also estimates that cost-effective treatment remains a major concern for these individuals. On the other hand, 3D printed prosthetics promise to solve key demand for prosthetics, increasing both manufacturing times, as well as cost-effective treatment. This is largely due to the fact that manufacturing is often scaled for large quantities of production. Hence, individual prosthetics, with personalized needs often bears the brunt of mass-production, with reduced effectiveness, and high-costs. The 3D printing technology with rapid prototyping, along with PLA material-based products promise to bring a revolution to the field, and hospitals around the world have already started reported major improvements in prosthetics, thanks to the rise of 3D printing technology.
The 3D printing technology also promises to solve similar challenge in dental work, as the traditional high-costs, and limited customization catering to general needs remain a major barrier for growth for expansion of personalized dental services.
Rising challenges in the use of PET, and growing demand for ready-to-eat meals, along with PLA’s properties including resistance to grease, better printability, and disposable cutlery promise major growth in the food & beverage sector as well.
The key players of the global polylactic acid market are BASF SE, COFCO, Evonik Industries AG, Futerro, Jiangsu Supla Bioplastics Co. Ltd., Jiangxi Keyuan Bio-Material Co. Ltd., Mitsui Chemicals Inc., NatureWorks LLC (Cargill Incorporated), Shanghai Tong-Jie-Liang Biomaterials Co. Ltd. and Total Corbion PLA and others.
The global Polylactic Acid market segmented on the basis of Application and By Geography.
Major players operating in the global Polylactic Acid market include BASF SE, COFCO, Evonik Industries AG, Futerro, Jiangsu Supla Bioplastics Co. Ltd., Jiangxi Keyuan Bio-Material Co. Ltd., Mitsui Chemicals Inc., NatureWorks LLC (Cargill Incorporated), Shanghai Tong-Jie-Liang Biomaterials Co. Ltd. and Total Corbion PLA and others.
The base year considered in Polylactic Acid market report is 2022.
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