PAN-Based Carbon Fibers Market Research Report - Global Forecast till 2030

PAN-Based Carbon Fibers Market: Information by Product Type (Composite and Non-Composite), Application (Aerospace & Defense, Wind Energy, Sports & Leisure, Automotive, Construction and others) and Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa) - Forecast till 2030

ID: MRFR/CnM/6581-HCR | August 2022 | Region: Global | 140 Pages         

Table of Contents

1 Executive Summary

2 Market Introduction

2.1 Market Definition

2.2 Scope of the Study

2.3 List of Assumptions

2.4 Markets Structure

3 Market Research Methodology

3.1 Research Process

3.2 Primary Research

3.3 Secondary Research

3.4 Market Size Estimation

3.5 Forecast Model

4 Market Dynamics of Global PAN-Based Carbon Fibers Market

4.1 Introduction

4.2 Drivers

4.3 Restraints

4.4 Opportunities

4.5 Challenges

4.6 Trends/Technology

5 Market Factor Analysis of Global PAN-Based Carbon Fibers Market

5.1 Supply Chain Analysis

5.1.1 Raw Material Suppliers

5.1.2 Manufacturers/Producers

5.1.3 Distributors/Retailers/Wholesalers/E-Commerce

5.1.4 End User

5.2 Porter’s Five Forces Analysis

5.2.1 Threat of New Entrants

5.2.2 Bargaining Power of Buyers

5.2.3 Bargaining Power of Suppliers

5.2.4 Threat of Substitutes

5.2.5 Intensity of Competitive Rivalry

6. Global PAN-Based Carbon Fibers Market, by Type

6.1 Introduction

6.2 Composites

6.2.1 Market Estimates & Forecast, 2020βˆ’2027

6.2.2 Market Estimates & Forecast, by Region, 2020βˆ’2027

6.3 Non-Composites

6.3.1 Market Estimates & Forecast, 2020βˆ’2027

6.3.2 Market Estimates & Forecast, by Region, 2020βˆ’2027

7. Global PAN-Based Carbon Fibers Market, by Application

7.1 Introduction

7.2 Aerospace & Defense

7.2.1 Market Estimates & Forecast, 2020βˆ’2027

7.2.2 Market Estimates & Forecast, By Region, 2020βˆ’2027

7.3 Automotive

7.3.1 Market Estimates & Forecast, 2020βˆ’2027

7.3.2 Market Estimates & Forecast, by Region, 2020βˆ’2027

7.4 Construction

7.4.1 Market Estimates & Forecast, 2020βˆ’2027

7.4.2 Market Estimates & Forecast, by Region, 2020βˆ’2027

7.5 Wind Energy

7.5.1 Market Estimates & Forecast, 2020βˆ’2027

7.5.2 Market Estimates & Forecast, by Region, 2020βˆ’2027

7.6 Sports & Leisure

7.6.1 Market Estimates & Forecast, 2020βˆ’2027

7.6.2 Market Estimates & Forecast, by Region, 2020βˆ’2027

7.7 Others

7.7.1 Market Estimates & Forecast, 2020βˆ’2027

7.7.2 Market Estimates & Forecast, by Region, 2020βˆ’2027

8. Global PAN-Based Carbon Fibers Market, by Region

8.1 Introduction

8.2 North America

8.2.1 Market Estimates & Forecast, 2020βˆ’2027

8.2.2 Market Estimates & Forecast, by Type, 2020βˆ’2027

8.2.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.2.4 US

8.2.4.1 Market Estimates & Forecast, 2020βˆ’2027

8.2.4.2 Market Estimates & Forecast, by Type, 2020βˆ’2027

8.2.4.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.2.5 Canada

8.2.5.1 Market Estimates & Forecast, 2020βˆ’2027

8.2.5.2 Market Estimates & Forecast, by Type, 2020βˆ’2027

8.2.5.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.3 Europe

8.3.1 Market Estimates & Forecast, 2020βˆ’2027

8.3.2 Market Estimates & Forecast, by Type, 2020βˆ’2027

8.3.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.3.4 Germany

8.3.4.1 Market Estimates & Forecast, 2020βˆ’2027

8.3.4.2 Market Estimates & Forecast, by Type, 2020βˆ’2027

8.3.4.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.3.5 France

8.3.5.1 Market Estimates & Forecast, 2020βˆ’2027

8.3.5.2 Market Estimates & Forecast, by Type, 2020βˆ’2027

8.3.5.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.3.6 Italy

8.3.6.1 Market Estimates & Forecast, 2020βˆ’2027

8.3.6.2 Market Estimates & Forecast, by Type, 2020βˆ’2027

8.3.6.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.3.7 Spain

8.3.7.1 Market Estimates & Forecast, 2020βˆ’2027

8.3.7.2 Market Estimates & Forecast, by Type,2020βˆ’2027

8.3.7.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.3.8 UK

8.3.8.1 Market Estimates & Forecast, 2020βˆ’2027

8.3.8.2 Market Estimates & Forecast, by Type,2020βˆ’2027

8.3.8.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.3.9 Russia

8.3.9.1 Market Estimates & Forecast, 2020βˆ’2027

8.3.9.2 Market Estimates & Forecast, by Type,2020βˆ’2027

8.3.9.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.3.10 Poland

8.3.10.1 Market Estimates & Forecast, 2020βˆ’2027

8.3.10.2 Market Estimates & Forecast, by Type, 2020βˆ’2027

8.3.10.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.3.11 Rest of Europe

8.3.11.1 Market Estimates & Forecast, 2020βˆ’2027

8.3.11.2 Market Estimates & Forecast, by Type, 2020βˆ’2027

8.3.11.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.4 Asia-Pacific

8.4.1 Market Estimates & Forecast, 2020βˆ’2027

8.4.2 Market Estimates & Forecast, by Type, 2020βˆ’2027

8.4.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.4.4 China

8.4.4.1 Market Estimates & Forecast, 2020βˆ’2027

8.4.4.2 Market Estimates & Forecast, by Type, 2020βˆ’2027

8.4.4.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.4.5 India

8.4.5.1 Market Estimates & Forecast, 2020βˆ’2027

8.4.5.2 Market Estimates & Forecast, by Type, 2020βˆ’2027

8.4.5.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.4.6 Japan

8.4.6.1 Market Estimates & Forecast, 2020βˆ’2027

8.4.6.2 Market Estimates & Forecast, by Type, 2020βˆ’2027

8.4.6.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.4.7 Australia & New Zealand

8.4.7.1 Market Estimates & Forecast, 2020βˆ’2027

8.4.7.2 Market Estimates & Forecast, by Type, 2020βˆ’2027

8.4.7.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.4.8 Rest of Asia-Pacific

8.4.8.1 Market Estimates & Forecast, 2020βˆ’2027

8.4.8.2 Market Estimates & Forecast, by Type, 2020βˆ’2027

8.4.8.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.5 Middle East & Africa

8.5.1 Market Estimates & Forecast, 2020βˆ’2027

8.5.2 Market Estimates & Forecast, by Type, 2020βˆ’2027

8.5.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.5.4 GCC

8.5.4.1 Market Estimates & Forecast, 2020βˆ’2027

8.5.4.2 Market Estimates & Forecast, by Type, 2020βˆ’2027

8.5.4.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.5.5 Israel

8.5.5.1 Market Estimates & Forecast, 2020βˆ’2027

8.5.5.2 Market Estimates & Forecast, by Type, 2020βˆ’2027

8.5.5.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.5.6 North Africa

8.5.6.1 Market Estimates & Forecast, 2020βˆ’2027

8.5.6.2 Market Estimates & Forecast, by Type, 2020βˆ’2027

8.5.6.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.5.7 Turkey

8.5.7.1 Market Estimates & Forecast, 2020βˆ’2027

8.5.7.2 Market Estimates & Forecast, by Type, 2020βˆ’2027

8.5.7.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.5.8 Rest of Middle East & Africa

8.5.8.1 Market Estimates & Forecast, 2020βˆ’2027

8.5.8.2 Market Estimates & Forecast, by Type, 2020βˆ’2027

8.5.8.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.6 Latin America

8.6.1 Market Estimates & Forecast, 2020βˆ’2027

8.6.2 Market Estimates & Forecast, by Type, 2020βˆ’2027

8.6.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.6.4 Brazil

8.6.4.1 Market Estimates & Forecast, 2020βˆ’2027

8.6.4.2 Market Estimates & Forecast, by Type, 2020βˆ’2027

8.6.4.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.6.5 Argentina

8.6.5.1 Market Estimates & Forecast, 2020βˆ’2027

8.6.5.2 Market Estimates & Forecast, by Type, 2020βˆ’2027

8.6.5.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.6.6 Mexico

8.6.6.1 Market Estimates & Forecast, 2020βˆ’2027

8.6.6.2 Market Estimates & Forecast, by Type, 2020βˆ’2027

8.6.6.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.6.7 Rest of Latin America

8.6.7.1 Market Estimates & Forecast, 2020βˆ’2027

8.6.7.2 Market Estimates & Forecast, by Type, 2020βˆ’2027

8.6.7.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

9. Company Landscape

9.1 Introduction

9.2 Market Strategy

9.3 Key Development Analysis (Expansion/Merger & Acquisitions/Joint Venture/New Product Development/Agreement/Investment)

10. Company Profiles

10.1 Hexcel corporation

10.1.1 Company Overview

10.1.2 Financial Updates

10.1.3 Product/Business Segment Overview

10.1.4 Strategy

10.1.5 Key Developments

10.1.6 SWOT Analysis

10.2 Hyosung Corporation

10.2.1 Company Overview

10.2.2 Financial Updates

10.2.3 Product/Business Segment Overview

10.2.4 Strategy

10.2.5 Key Developments

10.2.6 SWOT Analysis

10.3 Mitsubishi Chemical Corporation

10.3.1 Company Overview

10.3.2 Financial Updates

10.3.3 Product/Business Segment Overview

10.3.4 Strategy

10.3.5 Key Developments

10.3.6 SWOT Analysis

10.4 Teijin Limited

10.4.1 Company Overview

10.4.2 Financial Updates

10.4.3 Product/Business Segment Overview

10.4.4 Strategy

10.4.5 Key Developments

10.4.6 SWOT Analysis

10.5 Cytec Industries, Inc

10.5.1 Company Overview

10.5.2 Financial Updates

10.5.3 Product/Business Segment Overview

10.5.4 Strategy

10.5.5 Key Developments

10.5.6 SWOT Analysis

10.6 SGL Carbon

10.6.1 Company Overview

10.6.2 Financial Updates

10.6.3 Product/Business Segment Overview

10.6.4 Strategy

10.6.5 Key Developments

10.6.6 SWOT Analysis

10.7 Toray Industries Inc.

10.7.1 Company Overview

10.7.2 Financial Updates

10.7.3 Product/Business Segment Overview

10.7.4 Strategy

10.7.5 Key Developments

10.7.6 SWOT Analysis

10.8 Formosa Plastics Corporation

10.8.1 Company Overview

10.8.2 Financial Updates

10.8.3 Product/Business Segment Overview

10.8.4 Strategy

10.8.5 Key Developments

10.8.6 SWOT Analysis

11. Conclusion

LIST OF TABLES

Table 1 Global PAN-Based Carbon Fibers Market: by Region, 2020βˆ’2027

Table 2 North America: PAN-Based Carbon Fibers Market, by Country, 2020βˆ’2027

Table 3 Europe: PAN-Based Carbon Fibers Market, by Country, 2020βˆ’2027

Table 4 Asia-Pacific: PAN-Based Carbon Fibers Market. by Country, 2020βˆ’2027

Table 5 Middle East & Africa: PAN-Based Carbon Fibers Market, by Country, 2020βˆ’2027

Table 6 Latin America: PAN-Based Carbon Fibers Market, by Country, 2020βˆ’2027

Table 7 Global PAN-Based Carbon Fibers Type Market, by Regions, 2020βˆ’2027

Table 8 North America: PAN-Based Carbon Fibers Type Market, by Country, 2020βˆ’2027

Table 9 Europe: PAN-Based Carbon Fibers Type Market, by Country, 2020βˆ’2027

Table10 Asia-Pacific: PAN-Based Carbon Fibers Type Market, by Country, 2020βˆ’2027

Table11 Middle East & Africa: PAN-Based Carbon Fibers Type Market, by Country, 2020βˆ’2027

Table12 Latin America: PAN-Based Carbon Fibers Type Market, by Country, 2020βˆ’2027

Table 13 Global PAN-Based Carbon Fibers Application Market, by Regions, 2020βˆ’2027

Table14 North America: PAN-Based Carbon Fibers Application Market, by Country, 2020βˆ’2027

Table15 Europe: PAN-Based Carbon Fibers Application Market, by Country, 2020βˆ’2027

Table16 Asia-Pacific: PAN-Based Carbon Fibers Application Market, by Country, 2020βˆ’2027

Table17 Middle East & Africa: PAN-Based Carbon Fibers Application Market, by Country, 2020βˆ’2027

Table18 Latin America: PAN-Based Carbon Fibers by Application Market, by Country, 2020-2027

Table19 Global Type Market, by Region, 2020βˆ’2027

Table20 Global Application Market, by Region, 2020βˆ’2027

Table21 North America: PAN-Based Carbon Fibers Market, by Country, 2020βˆ’2027

Table22 North America: PAN-Based Carbon Fibers Market, by Type, 2020βˆ’2027

Table23 North America: PAN-Based Carbon Fibers Market, by Application, 2020βˆ’2027

Table24 Europe: PAN-Based Carbon Fibers Market, by Country, 2020βˆ’2027

Table25 Europe: PAN-Based Carbon Fibers Market, by Type, 2020βˆ’2027

Table26 Europe: PAN-Based Carbon Fibers Market, by Application, 2020βˆ’2027

Table27 Asia-Pacific: PAN-Based Carbon Fibers Market, by Country, 2020βˆ’2027

Table28 Asia-Pacific: PAN-Based Carbon Fibers Market, by Type, 2020βˆ’2027

Table29 Asia-Pacific: PAN-Based Carbon Fibers Market, by Application, 2020βˆ’2027

Table30 Middle East & Africa: PAN-Based Carbon Fibers Market, by Country, 2020βˆ’2027

Table31 Middle East & Africa: PAN-Based Carbon Fibers Market, by Type, 2020βˆ’2027

Table32 Middle East & Africa: PAN-Based Carbon Fibers Market, by Application, 2020βˆ’2027

Table33 Latin America: PAN-Based Carbon Fibers Market, by Country, 2020βˆ’2027

Table34 Latin America: PAN-Based Carbon Fibers Market, by Type, 2020βˆ’2027

Table35 Latin America: PAN-Based Carbon Fibers Market, by Application, 2020βˆ’2027

LIST OF FIGURES

FIGURE 1 Global PAN-Based Carbon Fibers Market Segmentation

FIGURE 2 Forecast Research Methodology

FIGURE 3 Five Forces Analysis of Global PAN-Based Carbon Fibers Market

FIGURE 4 Value Chain of Global PAN-Based Carbon Fibers Market

FIGURE 5 Share of Global PAN-Based Carbon Fibers Market in 2020, by Country

FIGURE 6 Global PAN-Based Carbon Fibers Market, 2020βˆ’2027,

FIGURE 7 Global PAN-Based Carbon Fibers Market Size, by Type, 2020

FIGURE 8 Share of Global PAN-Based Carbon Fibers Market, by Type, 2020βˆ’2027

FIGURE 9 Global PAN-Based Carbon Fibers Market Size, by Application, 2020

FIGURE10 Share of Global PAN-Based Carbon Fibers Market, by Application, 2020βˆ’2027


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Market Synopsis


PAN Based Carbon Fibers Market was valued at USD 3.24 billion in 2018 and is expected to exhibit a CAGR of 11.6% during the forecast period. Carbon fiber is a strong, stiff, and lightweight material, containing at least 95% carbon atoms bonded together. The strands of the carbon fibers are thinner than a human hair and can be twisted together like yarn or woven together to form a cloth. When woven carbon fiber is bonded with polymer, a composite is formed. Carbon fiber is a preferred material across various end-use industries owing to its excellent strength-to-weight ratio, chemical resistance, and low thermal expansion. Some of the major applications of carbon fibers are in end-use industries such as aerospace & defense, automotive, wind energy, construction, and sports & leisure. Carbon fibers are of three types—polyacrylonitrile (PAN)-based carbon fibers, pitch-based carbon fibers, and rayon-based carbon fibers. PAN-based carbon fiber is the most commonly available type of carbon fiber in the market.


The surging demand for carbon fibers in the aerospace & defense industry is primarily driving the global PAN-based carbon fiber market. Additionally, the growth in the wind energy sector is also contributing to the growth of the product market. Furthermore, the increasing demand for lightweight automobiles is projected to offer growth impetus to the market players during the forecast period.


The market players in the PAN-based carbon fibers market are adopting various strategies such as expansion, mergers & acquisitions, supply/distribution agreements, and new product launches to maintain their market dominance and increase their global presence. For instance, in November 2017, Solvay, the parent company of Cytec, acquired European Carbon Fiber GmbH (“ECF”), which is a major manufacturer of high-quality precursor for large tow (50K) polyacrylonitrile carbon fibers.


However, the availability of close substitutes at low cost is a major restraining factor to the growth of the global PAN-based carbon fiber market during the forecast period.


Key Players


Some of the prominent players in the global PAN-based carbon fibers market are Hexcel Corporation (US), Hyosung Corporation (South Korea), Mitsubishi Chemical Corporation (Japan), Teijin Limited (Japan), Cytec Industries, Inc (US), SGL Carbon (Germany), Toray Industries Inc. (Japan), and Formosa Plastics Corporation (Taiwan).


Global PAN-based Carbon Fibers Market Share, by Application (2018)  PAN-based Carbon Fibers Market_Image


Source: MRFR Analysis


Market Segmentation


The global PAN-based carbon fiber market has been segmented based on type, applications, and region.


Based on type, the global PAN carbon fibers market has been divided into composites and non-composites.


On the basis of application, the global market has been classified into aerospace & defense, automotive, construction, wind energy, sports & leisure, and others.


Regional Analysis


The global PAN-based carbon fiber market has been analyzed with respect to five regions, namely Asia-Pacific, North America, the Middle East & Africa, Europe, and Latin America. 


Asia-Pacific was the largest and fastest growing market for PAN-based carbon fibers in 2018 and is expected to be the leading market during the forecast period. The region accounted for a share of around 37% by value in 2018. Rapid industrialization in the region due to growing economy is the factor attributing to the growth of end-use industries such as aerospace and defense, automotive, and renewable energy, which in turn is fueling the growth of the regional market.


North America was the second-largest market for PAN-based carbon fibers in 2018. The expanding aerospace & defense industry and high automobile production in the US are ensuring a stable revenue source for the PAN-based carbon fibers market in the region.


Europe was following North America in terms of the market size in 2018. Developed automotive industry in Germany is contributing to the growth of the product market in the region. The region is likely to showcase remarkable growth during the coming years.


The markets in Latin America and the Middle East & Africa held the least market share of the global PAN-based carbon fibers market in 2018. Slow economic progress in Latin America affected the growth of the PAN-based carbon fibers market in 2018. Moreover, the region is expected to witness healthy growth during the forecast period due to the increasing automotive production in countries such as Brazil and Mexico. The Middle East & Africa countries such as Turkey, Morocco, Egypt, and Iran are the region’s leading motor vehicle producers, while the major sales markets include Iran, Saudi Arabia, Egypt, Turkey, and the UAE with African countries viz. Algeria and Morocco not far behind. The region is projected to register increasing demand for polyacrylonitrile-based carbon fibers during the review period.


Intended Audience



  • PAN-based carbon fibers manufacturers

  • Traders and distributors of PAN-based carbon fibers

  • Research and development institutes

  • Potential investors

  • Raw material suppliers

  • Nationalized laboratories



Report Scope:
Report Attribute/Metric Details
  Market Size

  • 2022: USD 3.24 Billion
  • 2030 : Significant value
  •   CAGR   11.6% (2022–2030)
      Base Year   2021
      Forecast Period   2022Β toΒ 2030
      Historical Data   2019Β &Β 2020
      Forecast Units   Value (USD Billion)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   Type, Application and End-Use
      Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   Hexcel Corporation (US), Hyosung Corporation (South Korea), Mitsubishi Chemical Corporation (Japan), Teijin Limited (Japan), Cytec Industries, Inc (US), SGL Carbon (Germany), Toray Industries Inc. (Japan), and Formosa Plastics Corporation (Taiwan)
      Key Market Opportunities   The growth in the wind energy sector is also contributing to the growth of the product market
      Key Market Drivers   The surging demand for carbon fibers in the aerospace & defense industry is primarily driving the market


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    Frequently Asked Questions (FAQ) :

    PAN Based Carbon Fibers Market is predicted to grow at 11.6% through forecast period of 2020-2027.

    The forecast period for PAN Based Carbon Fibers Market research report is 2020-2027.

    PAN Based Carbon Fibers Market is dominated by APAC region.

    The major players are Hexcel Corporation (US), Hyosung Corporation (South Korea), Mitsubishi Chemical Corporation (Japan), Teijin Limited (Japan), Cytec Industries, Inc (US), SGL Carbon (Germany), Toray Industries Inc. (Japan), and Formosa Plastics Corporation (Taiwan)