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The Polyacrylonitrile (PAN) Market is experiencing unprecedented momentum, largely driven by its dominant role in carbon fiber production. PAN-based carbon fibers are essential in advanced manufacturing due to their high tensile strength, corrosion resistance, and light weight. Over 90 percent of global carbon fiber output is PAN-derived, making it the cornerstone for industries such as aerospace, automotive, and renewable energy.Â
With the global carbon fiber market projected to exceed USD 8 billion by 2027, the Polyacrylonitrile (PAN) Market is positioned to capture a significant share of this expansion. For example, each new generation of aircraft uses up to 50 percent composite materials by weight, and a single Boeing 787 Dreamliner consumes over 20 metric tons of carbon fiber. The scaling of such aircraft programs directly elevates the demand for PAN-based materials.Â
Lightweighting in Automotive Driving Polyacrylonitrile (PAN) Market GrowthÂ
The automotive sector’s shift towards lightweight materials to enhance fuel efficiency and battery range is a powerful catalyst for the Polyacrylonitrile (PAN) Market. PAN-based carbon fibers are increasingly used in electric vehicle platforms, especially in structural parts, battery enclosures, and body panels. This demand is accelerating as EV adoption rises globally.Â
Electric vehicle sales are projected to surpass 17 million units by 2025. As each electric vehicle integrates approximately 25–50 kg of carbon fiber-reinforced parts, the automotive sector alone is becoming a critical growth avenue for the Polyacrylonitrile (PAN) Market. High-performance manufacturers, such as Tesla, BMW, and Porsche, have already embedded PAN-derived carbon composites into their designs to achieve performance targets without compromising energy efficiency.Â
 Renewable Energy Initiatives Expanding the Polyacrylonitrile (PAN) MarketÂ
Wind energy is among the fastest-growing sectors fueling demand in the Polyacrylonitrile (PAN) Market. PAN-based carbon fibers are used extensively in manufacturing long, high-efficiency wind turbine blades. As turbines increase in size to capture more energy, the need for lightweight and durable composite materials becomes even more critical.Â
For instance, modern offshore wind turbines now exceed 14 MW in capacity with blades over 100 meters long. Each blade uses several tons of carbon fiber, and given PAN’s pivotal role in carbon fiber production, its relevance is growing with every infrastructure expansion. Global installed wind capacity is expected to cross 1100 GW by 2027, doubling from current levels and generating exponential demand in the Polyacrylonitrile (PAN) Market. Â
Polyacrylonitrile (PAN) Market Supported by Robust Textile Sector DemandÂ
The Polyacrylonitrile (PAN) Market continues to benefit from consistent demand in the textile industry, particularly for acrylic fibers. Acrylic fibers made from PAN are widely used in apparel, home furnishings, blankets, and industrial textiles. Their low cost, high durability, UV resistance, and color fastness make them preferred alternatives to natural fibers in multiple applications.Â
Textile production is growing at over 4 percent annually, particularly in Asia Pacific, which accounts for more than 60 percent of global output. In countries like China, India, and Bangladesh, PAN-based fibers form a foundational component in the production of synthetic and blended textiles. With global population and disposable incomes on the rise, especially in emerging economies, textile-driven growth remains a steady contributor to the Polyacrylonitrile (PAN) Market.Â
 Filtration Technologies Advancing the Polyacrylonitrile (PAN) MarketÂ
Another rapidly expanding segment of the Polyacrylonitrile (PAN) Market is filtration and membrane technologies. PAN’s chemical resistance and thermal stability make it ideal for high-performance membranes used in water filtration, air purification, and gas separation systems. Applications span across municipal water treatment, pharmaceuticals, food processing, and medical devices.Â
The global filtration market is projected to surpass USD 110 billion by 2026. PAN-based membranes are particularly vital in ultrafiltration and nanofiltration processes, where mechanical strength and precision pore structure are essential. For example, PAN hollow fiber membranes are being adopted in dialysis applications, supporting a medical filtration sub-market expected to grow at over 6 percent annually.Â
 Technological Innovations Boosting the Polyacrylonitrile (PAN) MarketÂ
Continuous technological developments in polymer science and fiber processing are enhancing the quality, performance, and affordability of PAN-based products. Improved spinning, stabilization, and carbonization techniques are enabling the production of finer, stronger carbon fibers at a reduced cost, thereby increasing accessibility for a broader set of applications.Â
For instance, low-cost PAN precursors developed for automotive-grade carbon fibers are allowing manufacturers to scale production without sacrificing performance. Additionally, advances in copolymerization and additive integration are opening doors for PAN applications in electronics and energy storage, such as in lithium-ion battery separators. These developments are reinforcing the relevance and adaptability of the Polyacrylonitrile (PAN) Market.Â
 Sustainability Priorities Catalyzing Demand in the Polyacrylonitrile (PAN) MarketÂ
Sustainability trends across industries are providing a major tailwind for the Polyacrylonitrile (PAN) Market. The shift toward lightweight, recyclable, and fuel-efficient materials has made PAN-based carbon fibers indispensable in green product design. Moreover, PAN composites support carbon-neutral targets by enhancing structural efficiency in sectors like mobility and infrastructure.Â
For example, reducing the weight of a car by 10 percent can improve fuel economy by 6–8 percent. When applied to fleets of vehicles or aircraft, this translates into billions in energy savings and emission reductions. Companies that integrate PAN-based solutions are increasingly aligned with regulatory compliance, consumer expectations, and ESG investment priorities. Consequently, PAN’s contribution to sustainable innovation is becoming a long-term strategic advantage.Â
 Polyacrylonitrile (PAN) Market Size Accelerating Amid Electrification BoomÂ
As electrification spreads across transportation, energy, and industrial applications, the Polyacrylonitrile (PAN) Market Size is scaling rapidly. Electrified infrastructure requires materials that can deliver strength without adding weight—a demand uniquely met by PAN-based composites. From lightweight battery packs to aerodynamic body shells and composite housings in EVs, PAN has become a material of choice.Â
The electric vehicle materials market alone is expected to surpass USD 65 billion by 2030. A significant portion of this market will be captured by carbon composites, positioning the Polyacrylonitrile (PAN) Market as a vital enabler of this transition. The increasing per-unit consumption of carbon fiber in newer EV models reflects the direct correlation between electrification and PAN market growth.Â
 Government Policies and Industrial Strategies Backing the Polyacrylonitrile (PAN) MarketÂ
National initiatives focusing on green mobility, clean energy, and advanced manufacturing are injecting momentum into the Polyacrylonitrile (PAN) Market. Governments across North America, Europe, and Asia are incentivizing the adoption of electric vehicles, composite-intensive aircraft, and renewable energy infrastructure, all of which are heavy users of PAN-derived materials.Â
For example, the U.S. Inflation Reduction Act, which allocates billions for clean energy and transportation innovation, is creating downstream demand for advanced materials like PAN. Similarly, the European Union’s Fit for 55 plan emphasizes lightweight materials in emission reduction strategies, directly boosting the utility of PAN in product development pipelines.Â
 Polyacrylonitrile (PAN) Market Size Expected to Surge in Asia-PacificÂ
Asia-Pacific holds the lion’s share of global PAN production and is forecast to drive the largest absolute growth in the Polyacrylonitrile (PAN) Market Size over the next five years. China, India, Japan, and South Korea are investing heavily in carbon fiber and acrylic fiber production, supported by robust domestic demand in textiles, automotive manufacturing, and renewable energy deployment.Â
China alone accounts for over 30 percent of global PAN production and is rapidly expanding its footprint in PAN-based carbon fiber manufacturing to meet rising internal and export-oriented demand. India’s rapid electrification, combined with its emergence as a global textile hub, further enhances the regional momentum. This regional expansion is reinforcing Asia-Pacific’s dominance in the Polyacrylonitrile (PAN) Market.Â
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Asia Pacific Leading Global Expansion of the Polyacrylonitrile (PAN) MarketÂ
The Asia Pacific region holds a dominant share in the Polyacrylonitrile (PAN) Market, underpinned by massive production capacity, cost-competitive raw materials, and a strong industrial base. China, in particular, commands over 30 percent of global PAN production. The country has emerged as the largest exporter of acrylic fiber and a top-tier manufacturer of PAN-based carbon fiber, supplying both domestic and international markets.Â
For example, China’s renewable energy sector, which added over 55 GW of wind power capacity in a single year, relies heavily on PAN-derived carbon fibers for wind turbine blade manufacturing. Similarly, with over 40 percent of the world’s textile output centered in Asia Pacific, countries such as India, Vietnam, and Bangladesh remain critical markets for PAN-based acrylic fibers. These nations are witnessing double-digit growth in synthetic textile exports, further escalating demand in the Polyacrylonitrile (PAN) Market.Â
 Europe Prioritizing Sustainability in the Polyacrylonitrile (PAN) MarketÂ
In Europe, the Polyacrylonitrile (PAN) Market is shaped by advanced manufacturing capabilities, regulatory support for sustainable materials, and strong end-user demand across automotive and aerospace sectors. Countries like Germany and France are investing heavily in low-carbon production methods for carbon fiber, a trend directly influencing PAN demand.Â
Germany, home to automotive giants and advanced material developers, continues to drive innovation in lightweight structural components using PAN-based composites. Each high-performance EV model produced in Germany integrates PAN-derived materials in battery housings and chassis parts to reduce emissions. In France, the aerospace sector’s push for sustainable aircraft components has significantly raised PAN consumption, with companies like Dassault and Safran integrating carbon composites made from PAN into next-gen jet designs.Â
 North America Driving High-Performance Applications in the Polyacrylonitrile (PAN) MarketÂ
The Polyacrylonitrile (PAN) Market in North America is driven by its mature aerospace and defense sectors, as well as the accelerating transition toward electric vehicles. The United States plays a pivotal role, with a strong presence of carbon fiber manufacturers and composite technology providers.Â
For instance, the U.S. military and commercial aviation programs consume thousands of tons of PAN-derived carbon fiber annually for aircraft fuselage, wings, and rotor blades. With Boeing’s ramp-up in commercial aircraft production and the continued expansion of Lockheed Martin’s defense systems, PAN-based materials are being deployed at scale. Moreover, U.S. EV production surged past 1.3 million units in 2023, creating massive demand for lightweight, high-performance materials—a segment where PAN continues to dominate.Â
 Middle East and Africa: Emerging Opportunity in the Polyacrylonitrile (PAN) MarketÂ
The Middle East and Africa are steadily emerging in the Polyacrylonitrile (PAN) Market, primarily through infrastructure and energy investments. Countries like Saudi Arabia and the UAE are actively diversifying their economies by investing in advanced materials and renewable energy, which require high-performance composites.Â
For example, the UAE’s offshore wind energy initiatives and construction megaprojects are incorporating PAN-derived carbon fibers in rotor blades and geotextiles. As the region targets reduced dependency on hydrocarbons, PAN’s role in enabling high-strength and corrosion-resistant infrastructure components is expanding. South Africa’s textile sector, meanwhile, is seeing a resurgence in acrylic fiber demand for domestic apparel and home textiles.Â
 Latin America Expanding Production and Use in the Polyacrylonitrile (PAN) MarketÂ
Latin America is gradually scaling up in the Polyacrylonitrile (PAN) Market, driven by Brazil and Mexico. Both countries have robust automotive and textile industries and are integrating PAN-based solutions to reduce material costs and improve product longevity.Â
Brazil’s growing wind energy installations, which surpassed 24 GW in cumulative capacity, rely on carbon composites made from PAN for blade production. At the same time, Mexico’s strategic position in North America’s automotive supply chain is driving demand for PAN-derived carbon fiber components. Vehicle parts exported from Mexico increasingly contain PAN-based materials to meet lightweighting targets for international automakers.Â
The Polyacrylonitrile (PAN) Market is segmented into five major application categories: acrylic fibers, carbon fibers, filtration membranes, composites, and specialty chemicals. Each segment contributes uniquely to the market’s growth trajectory.Â
Acrylic fibers account for the largest volume consumption, especially in the textile industry. They are widely used for knitwear, carpets, blankets, and technical textiles. PAN’s affordability and color retention properties make it ideal for cost-sensitive textile markets across Asia and Latin America.Â
Carbon fibers represent the fastest-growing application segment, with a CAGR of over 11 percent. These fibers, made almost exclusively from PAN, are increasingly used in EV components, aerospace frames, wind blades, and sports equipment. The expanding use of composite materials in urban infrastructure also supports this segment.Â
Filtration membranes made from PAN are experiencing growth driven by water treatment, medical, and industrial air purification applications. As urban populations rise and environmental regulations tighten, PAN’s role in high-purity filtration systems continues to expand.Â
 Automotive and Aerospace End-Use Sectors Reinforcing the Polyacrylonitrile (PAN) MarketÂ
The Polyacrylonitrile (PAN) Market is heavily influenced by end-use industries such as automotive and aerospace, where PAN-derived carbon fiber plays a critical role. The global automotive composites market alone is forecasted to surpass USD 13 billion by 2028, and PAN is at the center of this evolution.Â
For example, EV manufacturers in Europe and Asia are now specifying PAN-based carbon composites in structural elements to reduce vehicle weight by up to 200 kg per model, enhancing battery range by 7–10 percent. In aerospace, reducing aircraft weight by 1 kg can save up to USD 1,000 annually in fuel costs per plane. This economic benefit continues to incentivize the adoption of PAN-based lightweight components.Â
 Polyacrylonitrile (PAN) Price and Production Dynamics by RegionÂ
The Polyacrylonitrile (PAN) Price is closely linked to acrylonitrile monomer costs, energy prices, and regional supply-demand balances. Asia Pacific, particularly China and South Korea, enjoys price advantages due to scale economies and proximity to feedstock sources. PAN production in these countries supports both domestic needs and exports to Western markets.Â
As of the last 12 months, the average Polyacrylonitrile (PAN) Price ranged between USD 2,000 to USD 2,600 per metric ton, depending on grade and purity. Prices have shown moderate volatility, influenced by raw material cost fluctuations and transportation constraints. For example, in Q4 2023, acrylonitrile shortages led to a temporary 8 percent rise in PAN prices across Asia.Â
In North America and Europe, the Polyacrylonitrile (PAN) Price is relatively higher due to stricter environmental standards, energy tariffs, and labor costs. However, the price premium is often justified by superior quality and regulatory compliance. Industrial buyers in aerospace and defense prefer sourcing from certified Western suppliers, where PAN production adheres to aerospace-grade specifications.Â
 Polyacrylonitrile (PAN) Price Trend Reflects Industrial Demand RecoveryÂ
The recent Polyacrylonitrile (PAN) Price Trend reflects strong demand recovery post-pandemic and realignment of global supply chains. From mid-2021 through late 2023, PAN prices increased by approximately 15–20 percent due to surging demand from EVs, wind energy, and aircraft production. As inventory cycles normalize, prices have stabilized but remain elevated relative to pre-2020 levels.Â
Looking ahead, the Polyacrylonitrile (PAN) Price Trend is expected to remain upwardly biased, with CAGR-based price increases of 3 to 5 percent annually. This growth is driven by sustained demand in carbon fiber markets and anticipated increases in environmental compliance costs in major production hubs.Â
 Supply Chain Resilience a Strategic Priority in the Polyacrylonitrile (PAN) MarketÂ
Geopolitical uncertainties and shipping delays have prompted manufacturers to localize or diversify their PAN supply chains. Europe and North America are investing in regional PAN production to reduce reliance on Asian imports. New facilities in the United States are being planned to ensure consistent carbon fiber precursor availability, especially for defense and aerospace contracts.Â
For example, large composite producers are entering long-term procurement agreements with PAN suppliers to lock in prices and mitigate volatility. These shifts in procurement strategy are expected to influence the Polyacrylonitrile (PAN) Price Trend, encouraging upstream investment in more sustainable and cost-efficient production.Â
 Technological Innovation Redefining Polyacrylonitrile (PAN) Market EconomicsÂ
Advanced production technologies, including energy-efficient stabilization ovens and precision spinning systems, are helping reduce per-unit production costs in the Polyacrylonitrile (PAN) Market. New manufacturing lines in South Korea and Japan can produce PAN precursor with 20 percent less energy per ton, creating pricing advantages in global tenders.Â
Furthermore, developments in recycled PAN fiber processing are gaining momentum. Chemical recycling processes that regenerate PAN from used carbon fiber components are becoming economically viable. As these innovations scale, they are likely to influence the long-term Polyacrylonitrile (PAN) Price Trend by introducing recycled feedstock at competitive price points.Â
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The Polyacrylonitrile (PAN) Market is led by a concentrated group of global manufacturers that control both the upstream production of PAN precursors and downstream processing into carbon fiber and acrylic fibers. These companies have established strong vertical integration, proprietary technologies, and long-term supply agreements with major end-use industries. Their strategic positioning and economies of scale allow them to influence pricing, innovation cycles, and capacity expansion across regions.Â
 Mitsubishi Chemical Group – A Pioneer in Polyacrylonitrile (PAN) Market InnovationÂ
Mitsubishi Chemical is among the largest players in the global Polyacrylonitrile (PAN) Market. The company operates under its carbon fiber division, offering high-quality PAN precursor materials for aerospace and high-performance applications. Its product line includes the Dialead and Pyromex brands, which are widely used for producing ultra-high modulus carbon fibers. Mitsubishi’s PAN manufacturing capabilities span Japan, the United States, and Europe, enabling it to supply both local and export-driven demand.Â
Mitsubishi holds an estimated 15 to 18 percent share of the global PAN market, particularly in premium segments such as aircraft-grade and industrial carbon fiber. The company is also investing in recycled PAN fibers and bio-based acrylonitrile feedstock to align with its 2030 sustainability roadmap.Â
 Toray Industries – Controlling a Significant Share of the Polyacrylonitrile (PAN) MarketÂ
Toray Industries commands a strong presence in the Polyacrylonitrile (PAN) Market through its carbon fiber division, which operates under the Torayca brand. The company produces PAN precursors that are converted into carbon fiber at facilities located in Japan, South Korea, the United States, and France. Toray’s carbon fiber products are embedded in Boeing aircraft, Formula 1 vehicles, and wind turbines, making it a crucial supplier to the aerospace, automotive, and energy sectors.Â
Toray’s PAN-related business accounts for over 20 percent of global market share in terms of carbon fiber precursor production, and the company continues to expand through joint ventures and backward integration strategies. Recent investments include expanding PAN precursor production lines at its South Carolina facility to support growing North American demand.Â
 SGL Carbon – Strengthening European Position in the Polyacrylonitrile (PAN) MarketÂ
SGL Carbon, based in Germany, plays a critical role in the European Polyacrylonitrile (PAN) Market. The company specializes in customized PAN-based carbon fiber precursors under its SIGRAFIL brand. These materials are used extensively in automotive components, wind energy solutions, and industrial equipment.Â
SGL holds approximately 8 to 10 percent of the European PAN precursor market, with a focus on mid-volume, high-specification carbon fiber customers. The company’s collaboration with European automakers to produce lightweight chassis components is expanding PAN usage in EV platforms. SGL is also involved in developing low-cost, high-yield PAN fibers aimed at civil engineering and infrastructure reinforcement.Â
 Formosa Plastics – A Key Contributor to the Asian Polyacrylonitrile (PAN) MarketÂ
Formosa Plastics operates large-scale PAN precursor facilities in Taiwan and China, supporting both acrylic fiber and carbon fiber industries. The company’s PAN production is used in textile-grade applications under its Formolon brand, widely adopted by fabric manufacturers in Southeast Asia and India.Â
Formosa maintains an estimated 10 percent share of the Asia Pacific Polyacrylonitrile (PAN) Market. Its vertically integrated operations allow it to produce acrylonitrile monomer in-house, giving it a significant cost advantage in the acrylic fiber segment. The company is also evaluating expansion into composite-grade PAN products to serve the growing lightweight materials market in automotive and construction.Â
 Aksa Akrilik – Driving Volume Growth in the Global Polyacrylonitrile (PAN) MarketÂ
Aksa Akrilik, based in Turkey, is one of the world’s largest producers of acrylic fiber, and a major player in the Polyacrylonitrile (PAN) Market. With a production capacity exceeding 300,000 tons per year, the company supplies PAN-based acrylic fibers under the AKSA brand to more than 50 countries.Â
Aksa holds a dominant share in the global textile-grade PAN market, contributing nearly 15 percent of the world’s acrylic fiber output. The company’s PAN production is integrated with its downstream fiber spinning operations, making it a volume leader in the commodity-grade PAN sector. Aksa has also entered a joint venture with Dow Chemical to develop carbon fiber precursor materials for technical textiles and automotive applications.Â
 Montefibre – European Expansion in Specialty PAN ProductionÂ
Montefibre, headquartered in Spain, specializes in specialty-grade PAN precursors for industrial and defense applications. The company’s Montefibre Carbon brand focuses on PAN-based materials for large-tow carbon fiber production. These are increasingly used in wind turbine blades, pressure vessels, and automotive structures.Â
Montefibre is targeting a growing niche in the Polyacrylonitrile (PAN) Market by developing large-scale tow precursors that reduce fiber costs for high-volume users. The company currently supplies PAN precursors to carbon fiber manufacturers in Europe and is collaborating with research institutes to lower the energy intensity of the stabilization process.Â
The global Polyacrylonitrile (PAN) Market remains moderately consolidated, with the top five manufacturers accounting for approximately 65 to 70 percent of total capacity. Mitsubishi Chemical, Toray Industries, and Aksa Akrilik collectively hold the largest shares, supported by broad product lines, regional manufacturing bases, and access to captive feedstock.Â
The remaining share is divided among regional players such as SGL Carbon, Montefibre, and Formosa Plastics, each of which dominates in specific segments or geographies. New entrants are emerging in China and India, focusing on textile-grade PAN and cost-sensitive markets. However, barriers to entry in high-performance carbon fiber precursor production remain high due to technical complexity and capital intensity.Â
The Polyacrylonitrile (PAN) Market has witnessed several strategic developments in recent quarters that are reshaping capacity and technology benchmarks.Â
In July 2023, Toray Industries announced a USD 300 million investment to expand its PAN precursor and carbon fiber lines in Japan and the United States, targeting aerospace-grade material shortages projected by 2026.Â
In October 2023, Mitsubishi Chemical unveiled a pilot project to produce PAN precursors using bio-acrylonitrile derived from biomass feedstocks. This marks the beginning of a shift toward sustainable PAN manufacturing technologies aligned with global carbon neutrality goals.Â
In January 2024, Aksa Akrilik commissioned a new PAN line dedicated to technical fibers in Turkey, aiming to serve high-specification requirements in filtration and automotive textiles.Â
In March 2024, SGL Carbon entered a multi-year agreement with a European wind turbine manufacturer to supply PAN-based carbon fiber composites for offshore wind blade construction. This signals growing downstream alignment between PAN producers and renewable energy developers.Â
These developments indicate a strategic shift in the Polyacrylonitrile (PAN) Market toward high-margin, application-specific products and lower-emission production methods. Companies that successfully innovate in PAN processing, feedstock optimization, and downstream integration are expected to strengthen their market positions in the coming years.Â
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