Carbon fibres, electrospun activated carbon products with meso-macropores, and carbon black additives all utilise PAN (Polyacrylonitrile) as a polymeric carbon precursor. Hydrogen storage, electrochemistry, EMI shielding, and separation techniques are all employed in this order. It might be used in single-walled carbon nanotube composites made from PAN
Covid-19 Impact & Market Status
The unprecedented outbreak of the COVID-19 pandemic in early 2020 had led to the introduction of a worldwide lockdown across several countries which resulted in disruptions in import and export activities and the supply chain of Polyacrylonitrile (PAN). COVID-19 influenced the global economy in multiple ways such as directly affecting the production and demand, causing supply chain and disruption in market operations, and its financial impact on firms and financial markets. The Covid-19 pandemic has negatively influenced the Polyacrylonitrile (PAN) Market prominent companies in the market had stalled their business operations in different locations due to the lockdown and began to take social distancing protocols. In the Post pandemic era, the Polyacrylonitrile (PAN) industry expects a lot of requirements and demand because of rapid urbanization.
Asia Pacific to dominate the Global Polyacrylonitrile (PAN) Market
The Asia Pacific region is assumed to be the instantly-growing market for Polyacrylonitrile (PAN) over the projection year i,e. 2029. The growth of the Asia Pacific market is led by the growing investments by the investors in Research & Development (R & D) activities and in the automotive & wind energy end-use industry. For instance, hiking production in the manufacturing sector of the Asia Pacific region is likely to meet the household necessities by producing quality products in the market. Moreover, the rise in exports from Japan and China led to a surge in demand for Polyacrylonitrile (PAN) from the Asia Pacific region.
The global polyacrylonitrile (PAN) market is expected to grow at a CAGR of 0.9 percent from USD 6 billion in 2022 to USD 6 billion in 2029.
Polyacrylonitrile is a synthetic semicrystalline polymer resin (acrylic resin). PAN is a common abbreviation. (C3H3N)n is its empirical formula. It's a stiff thermoplastic substance that can withstand most solvents and chemicals, burns slowly, and has low gas permeability. Polyacrylonitrile can also be carbonized for use in battery applications.
The growing usage of Polyacrylonitrile (PAN) in sectors such as filtration, textiles, carbon fiber precursors, outdoor, fibre-reinforced concrete, and others is propelling the Polyacrylonitrile (PAN) market worldwide. In the chemicals and materials sector, the polyacrylonitrile (PAN) market is extremely important.
Automobile manufacturers such as Audi, Polystar, BMW, Honda, and GM are focusing more on cooperating with carbon composite material producers for mass manufacturing and investing in their processes to promote low-cost composite materials. Major companies in the global polyacrylonitrile market are adopting strategies and investing processes that can minimize the overall vehicles weight. Therefore, the application of polyacrylonitrile (PAN) is widely used in high-end supercars.
The key players in the global Polyacrylonitrile (PAN) market are AKSA, Montefibre, DOLAN GmbH, MemPro, Dralon, Formosa Plastics, Taekwangsf, TOYOBO, TAF, Pasupati Acrylon, Unichem, Toray, Mitsubishi Rayon Group, Fisipe, and Polimir etc.
Latest Innovations in the Global Polyacrylonitrile (PAN) Market: A Snapshot
- In August 2020, Mitsubishi chemical corporation acquired CFK Valley Stade Recycling GmbH & Ci.KG (CFK) and carboNXT, are two German carbon fibre recycling companies.
- The ANAND Group joined with FAR-UK in February 2020 to produce carbon fibre composites and to reduce growing carbon emissions.
Polyacrylonitrile Fibre Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 6 billion|
|Growth Rate||CAGR of 0.9% during 2021-2028|
|Segment Covered||Product Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East & Africa|
|Key Players Profiled||The top companies that hold the market share in polyacrylonitrile fibre market are AKSA, Montefibre, DOLAN GmbH, MemPro, Dralon, Formosa Plastics, Taekwangsf, TOYOBO, TAF, Pasupati Acrylon, Unichem, Toray, Mitsubishi Rayon Group, Fisipe, and Polimir etc & among others.|
Key Segments of the Global Polyacrylonitrile (PAN) Market
Product Type Overview, 2022-2029 (USD Billion)
- Acrylic Staple Fibre
- Acrylic Tow
- Acrylic Top
Application Overview, 2022-2029 (USD Billion)
- Precursors to carbon fibre
- Fibre-reinforced concrete
Regional Overview, 2022-2029 (USD Billion)
- North America
- The US
- Rest of Europe
- The Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa