Polylactic Acid (PLA) Market for 3D Printing Size and Share, 2018–2028
The PLA market by application is mainly categorized into food packaging, house hold items, healthcare, automotive and others. The food packaging application in the PLA market occupied the largest segment. This was due to the increasing usage and demand for non-toxic, bio-based, and bio-degradable plastic material. 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 under Generally Recognized as Safe (GRAS) which facilitates its usage in beverage and food packaging.
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The market attractiveness of different application areas of PLA. The healthcare application is projected to have the highest CAGR of XX% during the forecast period of 2018–2028.
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The increasing scope of biomedical applications, customization of medical procedures and devices and growth in investments towards research and development are propelling the growth of PLA. Medical implants industry requires specialty materials such as PLA which can be used for the production of high-performance components that are not only bio-compatible but also customizable.
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