As per MRFR Analysis, the Global Oxidized PAN fibers Market was valued at USD 4,977.72 million in 2023 and is projected to reach USD 5,105.15 million by 2024. The market is expected to grow to USD 6,395.71 million by 2032, with a CAGR of 2.86% from 2024 to 2032. The demand for oxidized PAN fibers is driven by their applications in aerospace, automotive, and energy storage sectors, where lightweight and high-performance materials are essential. The fibers' unique properties, including high strength-to-weight ratio and flame resistance, make them ideal for critical applications in these industries.
The oxidized PAN fibers market is witnessing significant trends driven by various industries.
Key players include Engineered Fiber Solutions GmbH, SGL Carbon, TEIJIN LIMITED, YF International, TORAY INDUSTRIES, INC., and others.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The automotive industry is experiencing a significant shift towards lightweight and high-performance materials, driven by the need for fuel efficiency, reduced emissions, and improved overall vehicle performance. This industry-wide trend has led to a growing demand for advanced materials that can provide strength, durability, and weight reduction. Thus, Oxidized PAN fibers, known for their lightweight, high thermal stability, and flame-resistant properties, are becoming an essential component in modern automotive manufacturing. Oxidized PAN fiber, also known as PANOX, is a flame-resistant textile fiber that offers exceptional thermal and mechanical properties. It is derived from polyacrylonitrile (PAN) and undergoes a specialized oxidation process to enhance its fire resistance and heat resistance capabilities. This unique combination of properties makes oxidized PAN fiber an ideal material for various automotive applications.
In addition to weight reduction, oxidized PAN fiber offers exceptional high-performance characteristics that are highly sought after in the automotive industry. This fiber exhibits high tensile strength, excellent flame resistance, and superior thermal stability, making it suitable for various applications. It can be used in the production of interior components such as seat covers, headliners, and carpets, providing enhanced fire protection and improved passenger safety. Furthermore, oxidized PAN fiber can also be utilized in the manufacturing of exterior components like body panels and underbody shields, where its high strength and impact resistance properties ensure durability and crashworthiness.
Moreover, the demand for oxidized PAN fiber in the automotive industry is further fueled by the increasing consumer preference for advanced safety features and luxury amenities in vehicles. As consumers become more aware of the importance of fire safety and seek vehicles that offer a comfortable and secure driving experience, automakers are under pressure to incorporate innovative materials like oxidized PAN fiber into their designs. This growing consumer demand, coupled with stringent safety regulations, is driving the adoption of oxidized PAN fiber in the automotive industry.
As the world shifts towards renewable energy sources and the adoption of electric vehicles continues to grow, the need for efficient and reliable energy storage solutions is on the rise. This surge in demand is fueling the need for advanced materials with exceptional thermal management capabilities that can enhance the performance and longevity of energy storage systems, and oxidized PAN fiber is emerging as a key player in this space.
Battery packs, which are at the core of energy storage systems, generate significant amounts of heat during charging and discharging cycles. Efficient heat dissipation is crucial to maintain optimal battery performance, extend battery life, and ensure safety. Oxidized PAN fiber, with its excellent thermal conductivity, enables effective heat dissipation in critical areas of battery packs, preventing overheating and enhancing overall system efficiency. In addition to thermal management, oxidized PAN fiber's conductive properties make it an ideal choice for electromagnetic interference (EMI) shielding in energy storage applications. EMI can disrupt the proper functioning of electronic components in battery systems, leading to potential safety hazards or reduced performance. By incorporating oxidized PAN fiber as an EMI shielding material, energy storage systems can effectively safeguard their sensitive electronic systems from these disturbances, ensuring reliable and uninterrupted operation.
Moreover, the versatility of oxidized PAN fiber extends beyond thermal management and EMI shielding. It is also employed in high-temperature gaskets and seals within energy storage systems. These gaskets and seals play a critical role in maintaining the integrity of battery enclosures, protecting the internal components from external contaminants, and preventing leaks. Oxidized PAN fiber's ability to withstand high temperatures and provide a durable seal ensures the reliability and longevity of energy storage systems, meeting the demanding requirements of this rapidly expanding market.
Based on type, the Global oxidized pan fiber market is segmented into LOI 45%-50%, LOI 51%-55%, and LOI 56%-60%. The LOI 45%-50% segment accounted for the largest market share with a market value of USD 2,673.30 million in 2023 and is anticipated to reach USD 3,359.55 million by 2032 witnessing growth at a CAGR of 2.60% from 2024 to 2032. These fibers require a relatively higher concentration of oxygen to sustain a flame, making them suitable for applications where flame retardancy is a crucial requirement. This specific grade of oxidized PAN fiber is extensively used in protective clothing, including uniforms for industrial workers and firefighters, where moderate flame resistance is essential. Additionally, these fibers are incorporated into home furnishings such as curtains and upholstery, enhancing fire safety in both residential and commercial environments.
Based on application, the global oxidized pan fiber market is segmented into Carbon Fiber, Gaskets & Seals, Brakes, Composites, and others. The carbon fiber segment accounted for the largest market share with market value of USD 2,676.78 million in 2023 and is anticipated to reach USD 6,104.82 million by 2032 witnessing growth at a CAGR of 10.48% from 2024 to 2032. Oxidized PAN (polyacrylonitrile) fiber plays a crucial role in the production of carbon fiber, offering a wide range of applications across various industries. With its exceptional strength, lightweight nature, and high-performance characteristics, carbon fiber has become an invaluable material in sectors such as aerospace, automotive, sports equipment, and renewable energy. Thus, the application of oxidized PAN fiber in carbon fiber manufacturing has revolutionized these industries by providing unparalleled strength-to-weight ratio and exceptional mechanical properties.
Based on end-use industry, the global oxidized pan fiber market is segmented into textile, Automotive & Transportation, Aerospace & Defense, Energy Storage, and others. The textile segment accounted for the largest market share with market value of USD 1,579.40 million in 2023 and is anticipated to reach USD 2,066.27 million by 2032 witnessing growth at a CAGR of 3.06% from 2024 to 2032. In the textile industry, oxidized PAN fiber finds extensive use in the production of flame-retardant fabrics and protective clothing. The high flame resistance properties of these fibers make them ideal for applications where safety is paramount, such as firefighting suits, welding garments, and thermal insulation materials. The fibers offer excellent heat insulation, high strength, and durability, making them suitable for creating protective gear for workers in high-temperature environments. Additionally, oxidized PAN fibers are used in the manufacture of fire blankets, curtains, and upholstery for public spaces and buildings, providing an added level of safety against fire hazards.
The global oxidized pan fiber market is characterized by strong competition from established players in the market. The players in the market are constantly involved in acquisition and expansion activities to retain their position in the market. Despite the challenges, there are several factors that are driving growth in the oxidized pan fiber market such as growing demand for lightweight and high-performance materials in automotive industry, rapidly expanding textile industry, and increasing demand from energy storage application. Thus, the advancement of end-use industries is driving the market growth.
Companies that prioritize technological innovation and advanced fiber properties gain a competitive edge in the market. This includes developing new manufacturing processes, improving fiber performance, and exploring sustainable production practices. The growth of market players in the oxidized PAN fiber market is influenced by various factors, including market and economic conditions, government regulations, and industrial development. To thrive in this competitive landscape, companies should prioritize expanding their production capacity to meet the increasing demand and enhance their product portfolio. Some of the prominent players in the market include Engineered Fiber Solutions GmbH, SGL Carbon, TEIJIN LIMITED, YF International, TORAY INDUSTRIES, INC., Shanghai Shenghe Textile Technology Co., Ltd., Procotex, Shanghai Tanchain New Material Technology Co., Ltd., Shenzhen Xiangu High-Tech. Co., Ltd., another. These players compete based on price, quality, and availability of the product to customers to capture a strong market share and strengthen their position in the market.
Teijin Limited is strongly focused towards developing innovative strategies by creating continuous and excellent business growth opportunities that will help the company to increase its sales. It also focuses on promoting sustainability and is making efforts to continuously develop products and services that will help in supporting society. Such efforts of the company will help it to gain strong brand recognition all over the world.
Toray is committed to technological innovation with a strong emphasis on research and development. The company is renowned for its expertise in creating advanced materials, particularly synthetic fibers, films, and oxidized pan fibers. Toray's oxidized pan fiber products, in particular, have gained prominence in industries such as aerospace, where their lightweight and high-strength properties are important for enhancing fuel efficiency and overall performance. With a global workforce and a strong dedication to corporate social responsibility, Toray continues to be at the forefront of technological advancements. The company's ability to integrate diverse materials and technologies, coupled with its commitment to sustainable practices, positions Toray Industries as a key influencer in shaping the future of materials science and innovation across a spectrum of industries worldwide.
Teijin Limited announced that it will begin production and sales of Tenax Carbon Fiber made with sustainable acrylonitrile using waste and residue from biomass-derived products or recycled raw materials that have received ISCC PLUS certification from International Sustainability and Carbon Certification system. The Tenax Carbon Fiber will be produced at Teijin’s Mishima plant in Japan.
Toray Industries, Inc., announced that it has decided to expand French subsidiary Toray Carbon Fibers Europe S.A.’s production facilities for regular, medium- and high-modulus carbon fibers. This move will increase annual capacity at the Abidos plant from 5,000 metric tons annually to 6,000 metric tons. Production is expected to start in 2025. This growth in production of carbon fiber will in turn result increased production of oxidized pan fiber required for production of carbon fiber.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 4,977.72 million |
| Market Size 2032 | USD 6,395.71 million |
| Compound Annual Growth Rate (CAGR) | 2.86% (2024-2032) |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2018 & 2022 |
| Forecast Units | Value (USD Million), Volume (Kilotons) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, End-Use Industry and Region |
| Geographies Covered | North America, Europe, Asia Pacific, South America, Middle East & Africa |
| Countries Covered | US, Canada, Mexico, Germany, Italy, France, Spain, UK, Denmark, Norway, Sweden, Finland, Iceland, China, India, Japan, South Korea, Bangladesh, Australia & New Zealand, Indonesia, Singapore, Saudi Arabia, Qatar, UAE, Oman, Bahrain, Kuwait, South Africa, Brazil, Argentina, Chile |
| Key Companies Profiled | · Engineered Fiber Solutions GmbH · SGL Carbon · TEIJIN LIMITED · YF International · TORAY INDUSTRIES, INC. · Shanghai Shenghe Textile Technology Co., Ltd · Procotex · Shanghai Tanchain New Material Technology Co., Ltd Shenzhen Xiangu High-Tech. Co., Ltd Others |
| Key Market Opportunities | Increasing adoption of oxidized pan fibers in construction and infrastructure due to their durability and sustainability Growing aerospace industry |
| Key Market Dynamics | Growing demand for lightweight and high-performance materials in automotive industry Increasing demand from energy storage application Rapidly expanding textile industry |
Frequently Asked Questions (FAQ) :
The Oxidized PAN fibers market is USD 4,977.72 Million in the year 2023.
The growth rate of the Oxidized PAN fibers Market 2.86%
Europe region held the largest market share in the Oxidized PAN fibers Market
Engineered Fiber Solutions GmbH, SGL Carbon, TEIJIN LIMITED, YF International, TORAY INDUSTRIES, INC., Shanghai Shenghe Textile Technology Co., Ltd., Procotex, Shanghai Tanchain New Material Technology Co., Ltd., Shenzhen Xiangu High-Tech. Co., Ltd., an others
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