There is no use trying to reproduce something when it has been done extremely well in the first place.
That is why I’m simply going to point you to Nick Lievendag’s awesome guide to filaments of all kinds instead of trying to write one here.
In the well researched and detailed post, Mr. Lievendag looks at the pros and cons of ABS and PLA vs. a whole host of other types of filament such as bamboo, dissolvable and flexible.
He looks at the similarities and differences between them and offers a lot of excellent advice.
In short, this post is the best one stop guide to everything that you want to know about different types of current filaments and how they can best be used.