Polyacrylonitrile or PAN fibre is a type of high-quality carbon fibre which is well known for intumescent properties. PAN-based carbon fiber is widely used in many industries such as automotive, aviation, aerospace, sporting goods, & construction applications, as these fibers have several advantages including high stiffness, high strength, low weight and high chemical resistance as well as high temperature tolerance. Additionally, due to numerous associated benefits, applicability is increasing in various new sectors and this will drive the growth of the marketThis growth is primarily driven by Increasing Demand for Fuel Efficient light weight Vehicles and Growing usability for Manufacturing of Structural Composite Parts Used in Aircraft.
Globally, a noticeable market trend is evident Adaptability of PAN fiber in new product launches
. Major Vendors, such as Dralon (Germany), Fisipe (Portugal), Montefibre (Italy), Aksa (Turkey), Kaneka (Japan), Toray (Japan), Mitsubishi Rayon (Japan), Taekwang (Korea), Formosa Plastics (China), Acrylic Fibre (Thailand), Kaltex (Mexico), Sinopec Anqing (China) and Sinopec SPC (China) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
- Increasing Demand for Fuel Efficient light weight Vehicles
- Growing usability for Manufacturing of Structural Composite Parts Used in Aircraft
- Adaptability of PAN fiber in new product launches
- Technological advancement in manufacturing facilities like recycling process
- High Cost
- Inadequate Production Capacity
Emerging market in some regions and Increasing Usage of Fiber in various industrial sector due light weight and good strength
Production of low cost fiber to gain competitive edge
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