Polyacrylonitrile (PAN) Fiber Market Share Driven by Carbon Fiber Demand and Technical Textile Applications | Valuates Reports

Polyacrylonitrile (PAN) Fiber Market Size
The global Polyacrylonitrile (PAN) Fiber market is projected to grow from US$ 4763 million in 2024 to US$ 5533.3 million by 2030, at a Compound Annual Growth Rate (CAGR) of 2.5% during the forecast period.

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The polyacrylonitrile (PAN) fiber market is witnessing robust growth, driven by its expanding use in advanced textiles and as a critical precursor for carbon fiber production. The market size is being influenced by the rising need for lightweight, high-strength materials in aerospace, automotive, and industrial sectors, where carbon fiber composites are becoming increasingly indispensable. Market trends also point toward a steady rise in PAN fiber applications across technical textiles, outdoor gear, and high-performance filtration, reflecting its versatility and strong mechanical properties.

Among the production methods, wet spinning currently holds the largest market share, primarily due to its scalability and suitability for producing PAN fibers used in carbon fiber manufacturing. This process ensures the fiber's molecular alignment and consistency, making it the preferred method in high-performance applications. Meanwhile, dry spinning is experiencing the fastest market growth, supported by its efficiency in producing textile-grade PAN fibers for apparel and general-purpose uses. Although less dominant, this method appeals to markets where operational cost and production flexibility are key.

In terms of application, the largest share of the market is held by the "precursors to carbon fiber" segment, given the increasing demand for carbon fiber in aerospace, wind energy, and advanced manufacturing sectors. These industries rely on PAN fibers for their strength-to-weight ratio and thermal stability. The filtration segment is seeing the fastest market growth, fueled by expanding use in air and water purification systems. Other notable applications include textiles, outdoor products, and fiber-reinforced concrete, all benefiting from PAN fiber's durability and resistance to chemical degradation.

Overall market growth is supported by technological advancements in polymer processing, growing environmental concerns prompting the use of efficient filtration materials, and strategic investments in carbon fiber infrastructure. The market forecast is expected to strengthen further as sustainable transportation, clean energy, and advanced construction technologies continue to scale. These trends reinforce the importance of PAN fiber as a foundational material for a wide range of high-value, high-performance applications.

Segment by Type
• Wet Spinning
• Dry Spinning

Segment by Application
• Textiles
• Precursors to carbon fiber
• Filtration
• Outdoor
• Fiber-reinforced concrete
• Others

By Company

AKSA, Dralon, Mitsubishi Chemical, Aditya Birla Group, Formosa Plastics Corporation, TOYOBO (Exlan), Taekwang, Toray, Kaltex, Montefibre, Pasupati Acrylon, SGL (Fisipe), SDF Group, Indian Acrylics, Sinopec, Jilin Chemical Fiber, CNPC, Jiangsu Zhongxin Group, Zhejiang Hangzhouwan

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This release was published on openPR.