Polyacrylonitrile Fiber Market

Polyacrylonitrile Fiber Market Outlook (2023 to 2033)

Based on the analysis by Fact.MR, the global polyacrylonitrile fiber market is estimated to be valued at US$ 4.8 billion in 2023 and it is expected to grow at a CAGR of 5.6% to reach US$ 8.3 billion by the end of 2033.

Polyacrylonitrile fiber (PAN) is a synthetic polymer produced from the polymerization of acrylonitrile monomers. It is a versatile material with a variety of applications, including as a precursor for carbon fiber production, as a filtration medium, and as a component in protective clothing. PAN fibers are known for their high strength, chemical and heat resistance, and excellent dimensional stability.

Report Attributes	Details
Polyacrylonitrile Fiber Market Size (2022A)	US$ 4.5 Billion
Estimated Market Value (2023E)	US$ 4.8 Billion
Forecasted Market Value (2033F)	US$ 8.3 Billion
Global Market Growth Rate (2023-2033)	5.6% CAGR
East Asia Market Share (2023)	31.3%
China Market Growth Rate (2023-2033)	6.1% CAGR
Key Companies Profiled	Jiangsu ZhongXin Group Jilin Chemical Fiber Group Co. Jilin Tangu Carbon Fiber Co., Ltd. Montefibre Carbon SGL Carbon Shenzhen Xiangu High-Tech. Co., Ltd. Taekwang Industrial Co. Ltd.

Historic and Future Pathway Analysis for the Polyacrylonitrile Fiber Market

Polyacrylonitrile homopolymers have been used as fibers in fiber-reinforced concrete, outdoor awnings, sailboat sails, and hot gas filtration systems. To create knitted garments like sweaters and socks, as well as outdoor products like tents and related items, copolymers containing polyacrylonitrile are frequently utilized as fibers. Some type of polyacrylonitrile copolymer is used to make acrylic fibers.

At least 85% of the monomer in acrylic fiber is acrylonitrile. For a large portion of the manufacture of carbon fiber, polyacrylonitrile is employed as the precursor. Approximately 20–25% of Boeing and Airbus wide-body airframes are made up of carbon fibers.

• Short Term (2023-2026): Mounting carbon fiber production across the globe is anticipated to drive the polyacrylonitrile fiber market during the projection period.
• Medium Term (2026-2029): PAN fibers are used in the production of protective clothing due to their high strength, durability, and heat resistance. Hence, the growing demand for protective clothing will drive the market for PAN.
• Long Term (2029-2033): Manufacturers are focusing on developing new and innovative PAN fiber products that can meet the evolving needs of various industries. They are also investing in research and development to improve the performance and cost-effectiveness of PAN fibers. This is likely to drive the market in a long term.

On the back of the aforementioned facts, the polyacrylonitrile fiber market is anticipated to grow at a CAGR of 5.6% during the forecast period from 2023-2033, According to the Fact.MR, a market research and competitive intelligence provider.

Market share analysis of polyacrylonitrile based on application and region is provided in a nutshell in the above image. Under the application segment, the carbon fiber production segment dominates with an 59.8% market share in 2023.

Market Dynamics Outlook

“Carbon Fiber Production Anticipated to Propel the Demand for Polyacrylonitrile Fiber”

The carbon fiber industry is a prominent consumer of polyacrylonitrile fiber. The demand for polyacrylonitrile fiber in carbon fiber production is increasing vastly due to its various benefits in its production. Currently, polyacrylonitrile is used as the precursor for approximately 85-90% of carbon fiber production.

Polyacrylonitrile fiber provides superior strength and stability, and higher carbon yield to carbon fiber making PAN fiber an increasingly favored feedstock for carbon fiber production which acts as a primary driving factor for the global polyacrylonitrile market.

• In 2022, the global demand for carbon fiber is around 122,000 tons which are around 7.8% higher than the previous year and it is expected to grow at a higher rate and will reach around 180,000 by the end of 2026.

Boosting automotive & aerospace industries with rapid industrialization is expected to drive the demand for carbon fiber across the globe. Thus, high growth in carbon fiber demand is expected to further drive the demand for polyacrylonitrile fiber.

“High Cost of Polyacrylonitrile Fiber to Restrict Growth of Polyacrylonitrile Fiber Market”

Polyacrylonitrile fiber is a widely used prominent raw material in the production of carbon fiber. Due to this polyacrylonitrile fiber market growth largely depend on carbon fiber market growth.

Carbon fibers and their composites have attracted much attention in recent years and are being used in an increasing number of industries. However, their use in high-volume applications is still restricted because of the expensive production costs of carbon fibers and the challenging manufacturing process for composites. The production of the precursor fiber, with polyacrylonitrile (PAN) now being the most common feedstock, is the key cost factor in the manufacturing of carbon fiber.

Precursor fiber i.e. polyacrylonitrile fiber accounts for around 50% of the production cost in carbon fibers production. Currently, there are other alternatives available to polyacrylonitrile fiber. Polyethylene (PE) is one of the promising alternatives to PAN due to its low cost, high carbon content, melt processability and high availability. Along with such properties, it offers enormous cost?saving potential. Over the years, the introduction of such low-cost alternatives to impact the global polyacrylonitrile fiber market.

Country-wise Insights

What are the Factors Driving Polyacrylonitrile Fiber Market Across China?

The carbon fiber market in China is currently thriving, and this is expected to positively impact the polyacrylonitrile fiber market. There is a significant rise in demand for carbon fiber across various end-use industries in China, particularly in three major markets - wind, aerospace/defense, and infrastructure/energy. It is projected that by 2026, the demand for carbon fiber in the wind energy sector alone will almost double, which is currently the largest consumer of carbon fiber in China. This is due to the country's expanding onshore and offshore wind capacity projects.

The increase in demand for carbon fiber presents a lucrative opportunity for polyacrylonitrile fibers in China. As a result, major Chinese producers are expanding their polyacrylonitrile fiber production capacity alongside their carbon fiber production capacities.

For instance :

• In October 2022, Sinopec Shanghai Petrochemical Co. Ltd. (SPC) successfully produced China's first batch of large tow carbon fiber at the company's production base in Shanghai.
• The company has adopted its self-developed PAN (polyacrylonitrile) base large tow precursor and carbon fiber technologies. The project is being implemented in two phases and expects to be in full production in 2024, with a total capacity of 24,000 tons/year precursor and 12,000 tons/year large-tow carbon fiber.

Why United States Polyacrylonitrile Fiber Market is Flourishing?

The United States is one of the prominent developed economies across the globe and is also home to one of the significant aerospace markets at the global level.

Polyacrylonitrile fiber has high tensile strength and UV resistance. Its superior stability & strength and higher carbon yield make it a preferred precursor in carbon fiber production. Due to these properties, carbon fiber is widely used in aircraft manufacturing. Currently, carbon fiber is dominantly used in aerospace manufacturing and it has primarily replaced aluminum.

• Aluminium used to be a key component in the aerospace industry. Nearly 70% parts of the earliest commercial aircraft were made of aluminum. Today, however, just 20% of modern aircraft are made of aluminum. The substance has mostly been replaced by carbon fiber and other composite metals.
• In 2022, avionics sales generated over US$ 2.8 billion across the world. The United States and Canada accounted for approximately 75% of total avionics sales. Such high sales by the United States create a large demand for carbon fiber that will directly impact the demand for polyacrylonitrile fiber.

Category-wise Insights

Which Production Process is Commonly used in Polyacrylonitrile Fiber Production?

There is two most common technology used to produce polyacrylonitrile fiber i.e. dry spinning & wet spinning. Among of these the most widely used technology in the production of polyacrylonitrile fibers is wet spinning.

Using this technique, fibrous scaffolds with a relatively large pore size (~250–500 μm) and fairly thick fibers (30–600 μm) with various morphologies are fabricated. Along with this, it also offers stronger mechanical properties to PAN fiber, thus driving the market growth and dominating the market.

Why Demand for Polyacrylonitrile Fiber is Growing as a Precursor in Carbon Fiber Production?

In terms of total carbon content (67%) and high carbon yield (∼55%) as well as other factors including characteristics, structure, processing, and cost, Polyacrylonitrile is one of the best carbon fiber precursors currently. As a result, polyacrylonitrile-based carbon fibers account for more than 85% of the total carbon fiber production globally and are a key component of most current advanced composites.

When PAN fibers are stretched up to 200% during spinning, the structure of the fibers is improved, particularly the orientation of the molecular chains with regard to the fiber axis, which eventually results in carbon fibers with improved mechanical characteristics. It is a good material for making carbon fiber because of all of these defining characteristics.

Due to a variety of uses in the aerospace & defense, automotive, sports goods, wind energy, pipe & tank, and end-use industries, the demand for carbon fiber has been expanding quickly over the past several years with an annual growth rate of more than 10%. Thus, rapidly rising carbon fiber demand creates a high opportunity for polyacrylonitrile fiber.

Eminent Player’s Key Stratagems

Eminent polyacrylonitrile fiber manufacturers are Jiangsu ZhongXin Group, Jilin Chemical Fiber Group Co., Jilin Tangu Carbon Fiber Co., Ltd., Montefibre Carbon, etc.

Polyacrylonitrile fiber manufacturers are expanding their production capacity to meet the growing demand for their products. They are also establishing new production facilities in regions with high growth potential to expand their customer base and improve their market share.

Further, companies are acquiring other players in the market to expand their product portfolio, customer base, and geographical reach. These mergers and acquisitions help companies to create synergies, reduce costs, and improve their market position.

PAN fiber manufacturers are also investing in marketing and branding initiatives to increase their visibility and reach to their customers. They are also leveraging digital marketing tools to reach a wider audience and improve their customer engagement.

Fact.MR has provided detailed information about the price points of key manufacturers of polyacrylonitrile fiber positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Polyacrylonitrile Fiber Industry Research

• By Type :

  • Tows
  • Staple Fiber

• By Production Technology :

  • Wet Spinning
  • Dry Spinning

• By Application :

  • Carbon Fiber Production
  • Filtration Membranes Production
  • Textiles Production
    • Outdoor Awnings
    • Knitted Clothing
  • Fibers for cement reinforcement
  • Others

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa