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The "Global Polyacrylonitrile Market" was valued at US$ 8022.7 Million in 2024 and is projected to reach US$ 9141.7 million by 2030, at a CAGR of 2.2% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
Polyacrylonitrile is a semicrystalline synthetic polymer resin (acrylic resin). Commonly abbreviated as PAN, Polyacrylonitrile’s empirical formula is (C3H4N). It is a hard rigid thermoplastic material that is resistant to most solvents and chemicals, slow to burn and has low permeability to gases. Polyacrylonitrile can also be carbonized for battery applications.
The market for polyacrylonitrile (PAN) is expected to increase steadily due to the material's wide range of applications and the rising need for high-performance materials. PAN is a synthetic polymer that is mostly used to make carbon fibre, which is vital to the aerospace, automotive, wind energy, and sporting goods industries because of its high strength, low weight, and resistance to corrosion. The market for polyacrylonitrile is being positively impacted by the increased demand for carbon fibre brought about by the automotive and aerospace industries' growing emphasis on fuel efficiency.
Apart from producing carbon fibre, PAN finds extensive application in textiles, especially in the creation of synthetic fibres for apparel and upholstery, because of its robustness and ability to withstand weathering. The market is expanding as a result of the increased demand for textile products brought on by an increasing worldwide population and rising disposable incomes. PAN finds application in water treatment membranes due to its mechanical strength and resistance to chemicals, which make it a good material for filtering.
In the Polyacrylonitrile (PAN) market, issues about sustainability are growing in significance, particularly in light of the substantial energy consumption associated with the manufacture of carbon fibre. In order to reduce the environmental impact of PAN production processes, manufacturers are concentrating on improvements. In addition, bio-based acrylonitrile is becoming more and more popular as a possible substitute for conventional raw materials, supporting the industry's move towards more environmentally friendly options.
In terms of type the global Polyacrylonitrile market has been segmented as Acrylic Staple Fiber, Acrylic Tow, Others
Among the various varieties of acrylic fibre, including acrylic tow and others, acrylic staple fibre has the largest market share in the global polyacrylonitrile (PAN) industry. A common staple fibre in textiles is acrylic, which is mostly used to make synthetic yarns, fabrics, and wool. It is a well-liked option in sectors including clothing, home furnishings, and industrial textiles because of its adaptability and affordability. Because of its reputation for being durable, supple, and blending well with other fibres, staple fibre is in high demand in a variety of end industries.
The widespread use of acrylic staple fibre, particularly in the apparel sector where there is a high need for reasonably priced, lightweight, and easily maintained fabrics, is what has led to its domination. Its market position is further strengthened by the increasing usage of acrylic fibres in developing regions like Asia-Pacific, where the textile industry is rising. Acrylic tow, on the other hand, has a smaller total market share due to its greater specialisation and usage in specialised markets like carbon fibre precursors. Consequently, acrylic staple fibre continues to hold the greatest share of the worldwide polyacrylonitrile market thanks to its wide range of applications and strong demand across several industries.
Textile to hold the highest market share: By Application
In terms of application, the global Polyacrylonitrile market has been segmented as Textiles, Precursors to carbon fibre, Fiber-reinforced concrete, others
Based on application, textiles have the largest market share in the global polyacrylonitrile (PAN) industry. The main use of polyacrylonitrile is in the manufacture of acrylic fibres, which are widely used in the textile industry to create industrial fabrics, home furnishings, and apparel. PAN-based fibres are extremely popular for use in blankets, upholstery, and clothing because of their easy maintenance, wool-like properties, and durability. The textile industry's large consumer base and steady demand for reasonably priced synthetic fibres are the main forces behind this application segment's supremacy.
Since they are lightweight, soft, and resistant to weathering and chemicals, acrylic fibres derived from polyacrylonitrile are often utilised as wool alternatives. Furthermore, textile production is expanding quickly in emerging nations, especially in Asia-Pacific, which is supporting the need for PAN in this industry. Although carbon fiber's antecedents are a developing market with enormous potential for the aerospace and automotive industries, their application is more specialised and niche.
Geographically, the globe polyacrylonitrile (PAN) market is divided into key regions, with North America, Europe, Asia-Pacific, and Latin America all having significant market shares. Due to its rapid industrialisation and growing textile industry, especially in nations like China, India, and Southeast Asia, Asia-Pacific currently holds the largest market share. The region's dominance is largely due to its expanding textile industry investment and its desire for reasonably priced synthetic fibres. Additionally, the rising use of PAN as a precursor for carbon fiber in emerging industries such as aerospace and automotive helps to its market expansion in the region.
Europe and North America follow closely behind, with growing emphasis on the use of PAN in high-performance applications—particularly as a substitute for carbon fibre in cutting-edge industries like renewable energy, aircraft, and defence. The need for strong, lightweight materials in various sectors is propelling product innovation and uptake of polyacrylonitrile-based goods. These areas do, however, witness a more balanced demand for sophisticated carbon fibre composites in addition to classic textile applications.
In the meantime, emerging regions like Latin America and the Middle East and Africa are seeing an increase in investment in infrastructure and industrial applications. While the use of PAN in fiber-reinforced concrete and textiles is growing in these regions, their overall market share is still growing when compared to more developed regions.
Competitive Analysis
The competitive landscape of the global polyacrylonitrile (PAN) market is characterized by the presence of both established multinational corporations and emerging players, each vying for market share through various strategies. Major companies, such as Mitsubishi Chemical Corporation, DOLAN GmbH and Toray Industries etc., dominate the market due to their extensive production capabilities, established distribution networks, and significant investment in research and development. These leaders focus on innovation to enhance product quality and expand applications, particularly in high-performance sectors like carbon fiber production.
December 9th, 2023, SGL Carbon and Brembo agreed to expand production capacities for the joint venture Brembo SGL Carbon Ceramic Brakes (BSCCB). Both companies have been working together with BSCCB on the conditions and implementation plans for this in the preceding months. BSCCB will invest around €150 million until 2027 to expand by more than 70% production capacities at the sites in Meitingen.
July 21st, 2023, SGL Carbon, announced the opening of two new logistics halls at the SGL sites in Innkreis, Austria.
Growing Demand for carbon fibre
An important factor propelling the polyacrylonitrile (PAN) market is the growing need for carbon fibre, especially in the automotive, aerospace, and renewable energy industries. Carbon fibre, which is mostly made of PAN, is highly prized in industries where performance and durability are crucial because of its remarkable strength-to-weight ratio, resistance to corrosion, and stability at high temperatures. Carbon fibre is one of the sophisticated materials that the aerospace industry is using more of because it helps lower total weight while retaining structural integrity. The industry is pushing towards lighter, more fuel-efficient aircraft. Comparably, in the automotive industry, manufacturers are using more carbon fiber-reinforced components as a result of the need for lightweight cars to satisfy strict emissions and fuel economy regulations.
Beyond transportation, the renewable energy sector, particularly wind energy, is also adding to the demand for PAN-based carbon fiber, as it is utilised to create durable and lightweight wind turbine blades. PAN demand is predicted to increase due to the increased emphasis on sustainable development and clean energy. This will increase the requirement for carbon fibre. The function of PAN in high-performance materials will become even more crucial in addressing upcoming technological and environmental concerns as these industries grow and innovate.
The growing focus on sustainability and the creation of recycled and bio-based polyacrylonitrile (PAN) materials is a noteworthy trend in the PAN industry. Industries are looking for petroleum-free alternatives to existing products in order to lower their carbon footprint as environmental concerns grow. This shift is leading to investments in research and development aimed at producing PAN from renewable resources or through more eco-friendly manufacturing processes. Additionally, advancements in recycling technologies are enabling the recovery of carbon fibers from end-of-life products, which can then be processed back into PAN or used in new applications.
Moreover, the automotive and aerospace sectors are increasingly prioritizing sustainability, pushing for the adoption of lightweight materials that improve energy efficiency and reduce emissions. This trend is also reflected in the growing demand for composite materials in the construction industry, where PAN-based carbon fibers are being utilized to enhance the performance and longevity of structures while minimizing environmental impact.
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