Best Use Cases:

Prototypes and concept models

Decorative items

Low-stress mechanical parts

Architectural models

Display pieces / figurines
 

Pros:

Very easy to print (low warping)

Excellent surface finish

Wide color availability

Eco-friendlier compared to petroleum-based plastics

Works well on almost all FDM printers

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Cons:

Low heat resistance (deforms ~60°C)

Brittle compared to engineering plastics

Not suitable for outdoor use

Poor mechanical strength for functional parts