PAN-based Carbon Fiber Precursor Market Key Companies and Analysis, Top Trends

PAN Based Carbon Fibers Market was valued at USD 3.24 billion in 2020 and is projected to reach USD 7.9 billion by 2030, at a CAGR of 11.6% between 2021 and 2030.

A material made of at least 95% bound carbon atoms, carbon fibre is strong, rigid, and light. The carbon fibres may be weaved into cloth or twisted together to produce yarn because they are thinner than human hair. A composite is created when woven carbon fibre and polymer are joined. Due to its outstanding strength-to-weight ratio, chemical resistance, and low thermal expansion, carbon fibre is a desirable material across a variety of end-use sectors. In end-use industries like aerospace & military, automotive, wind energy, construction, and sports & leisure, carbon fibres are used extensively. Carbon fibres come in three different varieties: pitch-based, rayon-based, and polyacrylonitrile (PAN)-based. The sort of carbon fibre that is most frequently on hand is PAN-based.

The global PAN-based carbon fibre market is primarily being driven by the soaring demand for carbon fibres in the aerospace and defence sector. The development of the product market is also being aided by the expansion of the wind energy industry. Furthermore, it is anticipated that throughout the forecast period, the market players will benefit from the rising demand for lightweight vehicles.

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To maintain their market dominance and expand their global footprint, industry participants in the PAN-based carbon fibres market are using a variety of strategies, including growth, mergers and acquisitions, supply/distribution agreements, and new product releases. As an illustration, Cytec's parent business, Solvay, purchased European Carbon Fiber GmbH ("ECF") in November 2017. ECF is a significant producer of high-quality precursor for large tow (50K) polyacrylonitrile carbon fibres.

However, a significant barrier to the expansion of the global PAN-based carbon fibre market over the projection period is the accessibility of close replacements at low prices.

Market Segmentation
Global PAN-based Carbon Fiber Precursor Market: Major Players
RIL
Hexcel
Formosa Plastics
Mitsubishi Rayon
Toray
Cytec
Dow
Taekwang
Hyosung
SGL

Global PAN-based Carbon Fiber Precursor Market: By Types
Small Tow
Big Tow

Global PAN-based Carbon Fiber Precursor Market: By Applications
Carbon Fiber
Others

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Global PAN-based Carbon Fiber Precursor Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global PAN-based Carbon Fiber Precursor market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

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