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Global PAN-based Carbon Fiber Market Research Report 2025
Synopsis
PAN-based carbon fiber is a type of carbon fiber that is derived from polyacrylonitrile (PAN) as the precursor material. Carbon fiber is a material that consists of thin filaments of carbon atoms that are aligned parallel to the fiber axis. Carbon fiber has high strength, stiffness, and thermal conductivity, and low weight and thermal expansion. PAN-based carbon fiber is the most widely used type of carbon fiber, accounting for about 90% of the global carbon fiber production. PAN-based carbon fiber is produced by a multi-step process that involves spinning, stabilizing, carbonizing, and surface treating the PAN fibers.
The global PAN-based Carbon Fiber market was valued at US$ million in 2023 and is anticipated to reach US$ million by 2030, witnessing a CAGR of % during the forecast period 2024-2030.
The industry trend of PAN-based carbon fiber is influenced by the increasing demand and innovation in the end-use sectors, such as aerospace, automotive, renewable energy, and construction. Some of the key trends are:
Cost reduction: Cost reduction is one of the main challenges and opportunities for the PAN-based carbon fiber industry, as the high cost of production and processing limits its wider adoption and competitiveness. Cost reduction can be achieved by improving the efficiency and productivity of the manufacturing process, reducing the energy consumption and waste generation, developing new and cheaper precursor materials, and optimizing the design and performance of the composite products .
Recycling: Recycling is another important issue and opportunity for the PAN-based carbon fiber industry, as the increasing production and consumption of carbon fiber creates environmental concerns and regulatory pressures. Recycling can help to reduce the environmental impact and waste disposal costs of carbon fiber, as well as to recover valuable materials and resources for reuse or resale. Recycling can be done by various methods, such as pyrolysis, solvolysis, mechanical milling, or chemical treatment .
Innovation: Innovation is the key driver and differentiator for the PAN-based carbon fiber industry, as it enables to create new and improved products and applications that meet the changing needs and expectations of the customers. Innovation can be achieved by developing new and advanced grades of PAN-based carbon fiber with enhanced properties such as strength, stiffness, toughness, durability, conductivity, etc., as well as by creating new and novel composite structures and designs that offer better functionality and performance .
This report aims to provide a comprehensive presentation of the global market for PAN-based Carbon Fiber, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding PAN-based Carbon Fiber.
Report Scope
The PAN-based Carbon Fiber market size, estimations, and forecasts are provided in terms of output/shipments (K MT) and revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global PAN-based Carbon Fiber market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the PAN-based Carbon Fiber manufacturers, new entrants, and industry chain related companies in this market with information on the revenues, production, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.
Market Segmentation
By Company
Toray
Teijin Carbon (Toho Tenax)
Mitsubishi Chemical
Hexcel Corporation
Formosa Plastics Corporation
Cytec
DowAksa
Sabic
Zoltek
SGL
Hyosung
Taekwang
Segment by Type
Small Tow
Big Tow
Segment by Application
Automobile
Aviation
Wind Power
Other
Production by Region
North America
Europe
China
Japan
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
China Taiwan
Southeast Asia
India
Latin America, Middle East & Africa
Mexico
Brazil
Turkey
GCC Countries
Chapter Outline
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by region, by Type, by Application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: Detailed analysis of PAN-based Carbon Fiber manufacturers competitive landscape, price, production and value market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Production/output, value of PAN-based Carbon Fiber by region/country. It provides a quantitative analysis of the market size and development potential of each region in the next six years.
Chapter 4: Consumption of PAN-based Carbon Fiber in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and production of each country in the world.
Chapter 5: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 6: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product production/output, value, price, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 10: The main points and conclusions of the report.
PAN-based carbon fiber is a type of carbon fiber that is derived from polyacrylonitrile (PAN) as the precursor material. Carbon fiber is a material that consists of thin filaments of carbon atoms that are aligned parallel to the fiber axis. Carbon fiber has high strength, stiffness, and thermal conductivity, and low weight and thermal expansion. PAN-based carbon fiber is the most widely used type of carbon fiber, accounting for about 90% of the global carbon fiber production. PAN-based carbon fiber is produced by a multi-step process that involves spinning, stabilizing, carbonizing, and surface treating the PAN fibers.
The global PAN-based Carbon Fiber market was valued at US$ million in 2023 and is anticipated to reach US$ million by 2030, witnessing a CAGR of % during the forecast period 2024-2030.
The industry trend of PAN-based carbon fiber is influenced by the increasing demand and innovation in the end-use sectors, such as aerospace, automotive, renewable energy, and construction. Some of the key trends are:
Cost reduction: Cost reduction is one of the main challenges and opportunities for the PAN-based carbon fiber industry, as the high cost of production and processing limits its wider adoption and competitiveness. Cost reduction can be achieved by improving the efficiency and productivity of the manufacturing process, reducing the energy consumption and waste generation, developing new and cheaper precursor materials, and optimizing the design and performance of the composite products .
Recycling: Recycling is another important issue and opportunity for the PAN-based carbon fiber industry, as the increasing production and consumption of carbon fiber creates environmental concerns and regulatory pressures. Recycling can help to reduce the environmental impact and waste disposal costs of carbon fiber, as well as to recover valuable materials and resources for reuse or resale. Recycling can be done by various methods, such as pyrolysis, solvolysis, mechanical milling, or chemical treatment .
Innovation: Innovation is the key driver and differentiator for the PAN-based carbon fiber industry, as it enables to create new and improved products and applications that meet the changing needs and expectations of the customers. Innovation can be achieved by developing new and advanced grades of PAN-based carbon fiber with enhanced properties such as strength, stiffness, toughness, durability, conductivity, etc., as well as by creating new and novel composite structures and designs that offer better functionality and performance .
This report aims to provide a comprehensive presentation of the global market for PAN-based Carbon Fiber, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding PAN-based Carbon Fiber.
Report Scope
The PAN-based Carbon Fiber market size, estimations, and forecasts are provided in terms of output/shipments (K MT) and revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global PAN-based Carbon Fiber market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the PAN-based Carbon Fiber manufacturers, new entrants, and industry chain related companies in this market with information on the revenues, production, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.
Market Segmentation
By Company
Toray
Teijin Carbon (Toho Tenax)
Mitsubishi Chemical
Hexcel Corporation
Formosa Plastics Corporation
Cytec
DowAksa
Sabic
Zoltek
SGL
Hyosung
Taekwang
Segment by Type
Small Tow
Big Tow
Segment by Application
Automobile
Aviation
Wind Power
Other
Production by Region
North America
Europe
China
Japan
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
China Taiwan
Southeast Asia
India
Latin America, Middle East & Africa
Mexico
Brazil
Turkey
GCC Countries
Chapter Outline
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by region, by Type, by Application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: Detailed analysis of PAN-based Carbon Fiber manufacturers competitive landscape, price, production and value market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Production/output, value of PAN-based Carbon Fiber by region/country. It provides a quantitative analysis of the market size and development potential of each region in the next six years.
Chapter 4: Consumption of PAN-based Carbon Fiber in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and production of each country in the world.
Chapter 5: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 6: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product production/output, value, price, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 10: The main points and conclusions of the report.
Index1 PAN-based Carbon Fiber Market Overview
1.1 Product Definition
1.2 PAN-based Carbon Fiber Segment by Type
1.2.1 Global PAN-based Carbon Fiber Market Value Growth Rate Analysis by Type 2023 VS 2030
1.2.2 Small Tow
1.2.3 Big Tow
1.3 PAN-based Carbon Fiber Segment by Application
1.3.1 Global PAN-based Carbon Fiber Market Value Growth Rate Analysis by Application: 2023 VS 2030
1.3.2 Automobile
1.3.3 Aviation
1.3.4 Wind Power
1.3.5 Other
1.4 Global Market Growth Prospects
1.4.1 Global PAN-based Carbon Fiber Production Value Estimates and Forecasts (2019-2030)
1.4.2 Global PAN-based Carbon Fiber Production Capacity Estimates and Forecasts (2019-2030)
1.4.3 Global PAN-based Carbon Fiber Production Estimates and Forecasts (2019-2030)
1.4.4 Global PAN-based Carbon Fiber Market Average Price Estimates and Forecasts (2019-2030)
1.5 Assumptions and Limitations
2 Market Competition by Manufacturers
2.1 Global PAN-based Carbon Fiber Production Market Share by Manufacturers (2019-2024)
2.2 Global PAN-based Carbon Fiber Production Value Market Share by Manufacturers (2019-2024)
2.3 Global Key Players of PAN-based Carbon Fiber, Industry Ranking, 2022 VS 2023 VS 2024
2.4 Global PAN-based Carbon Fiber Market Share by Company Type (Tier 1, Tier 2 and Tier 3)
2.5 Global PAN-based Carbon Fiber Average Price by Manufacturers (2019-2024)
2.6 Global Key Manufacturers of PAN-based Carbon Fiber, Manufacturing Base Distribution and Headquarters
2.7 Global Key Manufacturers of PAN-based Carbon Fiber, Product Offered and Application
2.8 Global Key Manufacturers of PAN-based Carbon Fiber, Date of Enter into This Industry
2.9 PAN-based Carbon Fiber Market Competitive Situation and Trends
2.9.1 PAN-based Carbon Fiber Market Concentration Rate
2.9.2 Global 5 and 10 Largest PAN-based Carbon Fiber Players Market Share by Revenue
2.10 Mergers & Acquisitions, Expansion
3 PAN-based Carbon Fiber Production by Region
3.1 Global PAN-based Carbon Fiber Production Value Estimates and Forecasts by Region: 2019 VS 2023 VS 2030
3.2 Global PAN-based Carbon Fiber Production Value by Region (2019-2030)
3.2.1 Global PAN-based Carbon Fiber Production Value Market Share by Region (2019-2024)
3.2.2 Global Forecasted Production Value of PAN-based Carbon Fiber by Region (2025-2030)
3.3 Global PAN-based Carbon Fiber Production Estimates and Forecasts by Region: 2019 VS 2023 VS 2030
3.4 Global PAN-based Carbon Fiber Production by Region (2019-2030)
3.4.1 Global PAN-based Carbon Fiber Production Market Share by Region (2019-2024)
3.4.2 Global Forecasted Production of PAN-based Carbon Fiber by Region (2025-2030)
3.5 Global PAN-based Carbon Fiber Market Price Analysis by Region (2019-2024)
3.6 Global PAN-based Carbon Fiber Production and Value, Year-over-Year Growth
3.6.1 North America PAN-based Carbon Fiber Production Value Estimates and Forecasts (2019-2030)
3.6.2 Europe PAN-based Carbon Fiber Production Value Estimates and Forecasts (2019-2030)
3.6.3 China PAN-based Carbon Fiber Production Value Estimates and Forecasts (2019-2030)
3.6.4 Japan PAN-based Carbon Fiber Production Value Estimates and Forecasts (2019-2030)
4 PAN-based Carbon Fiber Consumption by Region
4.1 Global PAN-based Carbon Fiber Consumption Estimates and Forecasts by Region: 2019 VS 2023 VS 2030
4.2 Global PAN-based Carbon Fiber Consumption by Region (2019-2030)
4.2.1 Global PAN-based Carbon Fiber Consumption by Region (2019-2024)
4.2.2 Global PAN-based Carbon Fiber Forecasted Consumption by Region (2025-2030)
4.3 North America
4.3.1 North America PAN-based Carbon Fiber Consumption Growth Rate by Country: 2019 VS 2023 VS 2030
4.3.2 North America PAN-based Carbon Fiber Consumption by Country (2019-2030)
4.3.3 U.S.
4.3.4 Canada
4.4 Europe
4.4.1 Europe PAN-based Carbon Fiber Consumption Growth Rate by Country: 2019 VS 2023 VS 2030
4.4.2 Europe PAN-based Carbon Fiber Consumption by Country (2019-2030)
4.4.3 Germany
4.4.4 France
4.4.5 U.K.
4.4.6 Italy
4.4.7 Russia
4.5 Asia Pacific
4.5.1 Asia Pacific PAN-based Carbon Fiber Consumption Growth Rate by Region: 2019 VS 2023 VS 2030
4.5.2 Asia Pacific PAN-based Carbon Fiber Consumption by Region (2019-2030)
4.5.3 China
4.5.4 Japan
4.5.5 South Korea
4.5.6 China Taiwan
4.5.7 Southeast Asia
4.5.8 India
4.6 Latin America, Middle East & Africa
4.6.1 Latin America, Middle East & Africa PAN-based Carbon Fiber Consumption Growth Rate by Country: 2019 VS 2023 VS 2030
4.6.2 Latin America, Middle East & Africa PAN-based Carbon Fiber Consumption by Country (2019-2030)
4.6.3 Mexico
4.6.4 Brazil
4.6.5 Turkey
5 Segment by Type
5.1 Global PAN-based Carbon Fiber Production by Type (2019-2030)
5.1.1 Global PAN-based Carbon Fiber Production by Type (2019-2024)
5.1.2 Global PAN-based Carbon Fiber Production by Type (2025-2030)
5.1.3 Global PAN-based Carbon Fiber Production Market Share by Type (2019-2030)
5.2 Global PAN-based Carbon Fiber Production Value by Type (2019-2030)
5.2.1 Global PAN-based Carbon Fiber Production Value by Type (2019-2024)
5.2.2 Global PAN-based Carbon Fiber Production Value by Type (2025-2030)
5.2.3 Global PAN-based Carbon Fiber Production Value Market Share by Type (2019-2030)
5.3 Global PAN-based Carbon Fiber Price by Type (2019-2030)
6 Segment by Application
6.1 Global PAN-based Carbon Fiber Production by Application (2019-2030)
6.1.1 Global PAN-based Carbon Fiber Production by Application (2019-2024)
6.1.2 Global PAN-based Carbon Fiber Production by Application (2025-2030)
6.1.3 Global PAN-based Carbon Fiber Production Market Share by Application (2019-2030)
6.2 Global PAN-based Carbon Fiber Production Value by Application (2019-2030)
6.2.1 Global PAN-based Carbon Fiber Production Value by Application (2019-2024)
6.2.2 Global PAN-based Carbon Fiber Production Value by Application (2025-2030)
6.2.3 Global PAN-based Carbon Fiber Production Value Market Share by Application (2019-2030)
6.3 Global PAN-based Carbon Fiber Price by Application (2019-2030)
7 Key Companies Profiled
7.1 Toray
7.1.1 Toray PAN-based Carbon Fiber Corporation Information
7.1.2 Toray PAN-based Carbon Fiber Product Portfolio
7.1.3 Toray PAN-based Carbon Fiber Production, Value, Price and Gross Margin (2019-2024)
7.1.4 Toray Main Business and Markets Served
7.1.5 Toray Recent Developments/Updates
7.2 Teijin Carbon (Toho Tenax)
7.2.1 Teijin Carbon (Toho Tenax) PAN-based Carbon Fiber Corporation Information
7.2.2 Teijin Carbon (Toho Tenax) PAN-based Carbon Fiber Product Portfolio
7.2.3 Teijin Carbon (Toho Tenax) PAN-based Carbon Fiber Production, Value, Price and Gross Margin (2019-2024)
7.2.4 Teijin Carbon (Toho Tenax) Main Business and Markets Served
7.2.5 Teijin Carbon (Toho Tenax) Recent Developments/Updates
7.3 Mitsubishi Chemical
7.3.1 Mitsubishi Chemical PAN-based Carbon Fiber Corporation Information
7.3.2 Mitsubishi Chemical PAN-based Carbon Fiber Product Portfolio
7.3.3 Mitsubishi Chemical PAN-based Carbon Fiber Production, Value, Price and Gross Margin (2019-2024)
7.3.4 Mitsubishi Chemical Main Business and Markets Served
7.3.5 Mitsubishi Chemical Recent Developments/Updates
7.4 Hexcel Corporation
7.4.1 Hexcel Corporation PAN-based Carbon Fiber Corporation Information
7.4.2 Hexcel Corporation PAN-based Carbon Fiber Product Portfolio
7.4.3 Hexcel Corporation PAN-based Carbon Fiber Production, Value, Price and Gross Margin (2019-2024)
7.4.4 Hexcel Corporation Main Business and Markets Served
7.4.5 Hexcel Corporation Recent Developments/Updates
7.5 Formosa Plastics Corporation
7.5.1 Formosa Plastics Corporation PAN-based Carbon Fiber Corporation Information
7.5.2 Formosa Plastics Corporation PAN-based Carbon Fiber Product Portfolio
7.5.3 Formosa Plastics Corporation PAN-based Carbon Fiber Production, Value, Price and Gross Margin (2019-2024)
7.5.4 Formosa Plastics Corporation Main Business and Markets Served
7.5.5 Formosa Plastics Corporation Recent Developments/Updates
7.6 Cytec
7.6.1 Cytec PAN-based Carbon Fiber Corporation Information
7.6.2 Cytec PAN-based Carbon Fiber Product Portfolio
7.6.3 Cytec PAN-based Carbon Fiber Production, Value, Price and Gross Margin (2019-2024)
7.6.4 Cytec Main Business and Markets Served
7.6.5 Cytec Recent Developments/Updates
7.7 DowAksa
7.7.1 DowAksa PAN-based Carbon Fiber Corporation Information
7.7.2 DowAksa PAN-based Carbon Fiber Product Portfolio
7.7.3 DowAksa PAN-based Carbon Fiber Production, Value, Price and Gross Margin (2019-2024)
7.7.4 DowAksa Main Business and Markets Served
7.7.5 DowAksa Recent Developments/Updates
7.8 Sabic
7.8.1 Sabic PAN-based Carbon Fiber Corporation Information
7.8.2 Sabic PAN-based Carbon Fiber Product Portfolio
7.8.3 Sabic PAN-based Carbon Fiber Production, Value, Price and Gross Margin (2019-2024)
7.8.4 Sabic Main Business and Markets Served
7.7.5 Sabic Recent Developments/Updates
7.9 Zoltek
7.9.1 Zoltek PAN-based Carbon Fiber Corporation Information
7.9.2 Zoltek PAN-based Carbon Fiber Product Portfolio
7.9.3 Zoltek PAN-based Carbon Fiber Production, Value, Price and Gross Margin (2019-2024)
7.9.4 Zoltek Main Business and Markets Served
7.9.5 Zoltek Recent Developments/Updates
7.10 SGL
7.10.1 SGL PAN-based Carbon Fiber Corporation Information
7.10.2 SGL PAN-based Carbon Fiber Product Portfolio
7.10.3 SGL PAN-based Carbon Fiber Production, Value, Price and Gross Margin (2019-2024)
7.10.4 SGL Main Business and Markets Served
7.10.5 SGL Recent Developments/Updates
7.11 Hyosung
7.11.1 Hyosung PAN-based Carbon Fiber Corporation Information
7.11.2 Hyosung PAN-based Carbon Fiber Product Portfolio
7.11.3 Hyosung PAN-based Carbon Fiber Production, Value, Price and Gross Margin (2019-2024)
7.11.4 Hyosung Main Business and Markets Served
7.11.5 Hyosung Recent Developments/Updates
7.12 Taekwang
7.12.1 Taekwang PAN-based Carbon Fiber Corporation Information
7.12.2 Taekwang PAN-based Carbon Fiber Product Portfolio
7.12.3 Taekwang PAN-based Carbon Fiber Production, Value, Price and Gross Margin (2019-2024)
7.12.4 Taekwang Main Business and Markets Served
7.12.5 Taekwang Recent Developments/Updates
8 Industry Chain and Sales Channels Analysis
8.1 PAN-based Carbon Fiber Industry Chain Analysis
8.2 PAN-based Carbon Fiber Key Raw Materials
8.2.1 Key Raw Materials
8.2.2 Raw Materials Key Suppliers
8.3 PAN-based Carbon Fiber Production Mode & Process
8.4 PAN-based Carbon Fiber Sales and Marketing
8.4.1 PAN-based Carbon Fiber Sales Channels
8.4.2 PAN-based Carbon Fiber Distributors
8.5 PAN-based Carbon Fiber Customers
9 PAN-based Carbon Fiber Market Dynamics
9.1 PAN-based Carbon Fiber Industry Trends
9.2 PAN-based Carbon Fiber Market Drivers
9.3 PAN-based Carbon Fiber Market Challenges
9.4 PAN-based Carbon Fiber Market Restraints
10 Research Finding and Conclusion
11 Methodology and Data Source
11.1 Methodology/Research Approach
11.1.1 Research Programs/Design
11.1.2 Market Size Estimation
11.1.3 Market Breakdown and Data Triangulation
11.2 Data Source
11.2.1 Secondary Sources
11.2.2 Primary Sources
11.3 Author List
11.4 Disclaimer
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