Polyacrylonitrile Market Size, Share, Opportunities, And Trends By Type (Acrylic Staple Fiber, Acrylic Tow, Acrylic Top), By Application (Filtration, Textiles, Precursors To Carbon Fiber, Outdoor Products, Fiber-reinforced Concrete), And By Geography - Forecasts From 2025 To 2030

The polyacrylonitrile market is valued at US$9.862 billion in 2025 and is projected to grow at a CAGR of 4.23% over the forecast period.

Polyacrylonitrile (PAN) is the polymer of acrylonitrile. PAN-based carbon fibers possess very high strength. Thus, it can be utilized in automotive and aerospace applications as well as wind turbine blades. When subjected to heat treatment, it can produce a high carbon yield, producing a thermally stable and graphite-like molecular structure. These are used as fibers in outdoor awnings, sails for yachts, and fiber-reinforced concrete. The key market driver is the significant utilization of the material in the end-user industries such as automotive. According to the International Organization of Motor Vehicle Manufacturers, the global production of cars was 67,133,570, and the commercial vehicle was 26,413,029; the total production exceeded 10% from the previous year. This increased demand for the automotive will drive the need for the polyacrylonitrile.

• In 2023, the top importer of acrylonitrile was India, with an import worth of $263,978.21K. It was followed by China with $236,775.38K, then France with $155,568.53K, followed by the European Union with $149,702.79K, and Malaysia with $143,338.85K.
• According to the World Integrated Trade Solution (WITS), the top exporters of acrylonitrile were the United States, with an export worth $412,353.30K, followed by Germany at $212,064.10K, then China with $204,325.05K, and followed by the Netherlands with $140,099.23K in 2023.
• In the United States, the import of automotive vehicles, parts, and engines has increased 9.48% in the financial year 2023-24 from 2022-23. The imports were US$161,798 million in 2023-24. This number indicates the growing consumption of automotive equipment parts in the country. This suggests the demand for carbon fiber products.
• Polyacrylonitrile has the properties and the application of the membranes, where polyacrylonitrile membranes can be used with nanotubes for heavy metal removal such as lead, zinc, cobalt, and nickel. Thus, PAN is a well-known engineering polymer that is widely used in membrane techniques such as ultrafiltration (UF), nanofiltration (NF), reverse osmosis, and pervaporation (PV).

What are the drivers of the polyacrylonitrile market?

•  Increasing demand for carbon fiber

The demand for carbon fiber has been increasing every year. Carbon fiber is used to manufacture aircraft components like wing spars, fuselage panels, and bulkheads. Further, it is used to make parts for the automotive industry, as it is lightweight and strong. This fiber is also used in the production of many medical equipment such as prostheses, x-ray equipment, surgery equipment, etc. According to the Composite United e.V, the global average demand for carbon fibers was around 117,500 tons in 2023 and is expected to grow by 10.26% in 2024.

In Europe, the carbon fiber-reinforced segment had 57 kilotons of production in 2022. The European Composites Market in Kilotons has been significant, with carbon fiber-reinforced plastics produced at 1,444  Kilotons in 2022. Polyacrylonitrile is used as the precursor for carbon fiber production, and this has been one of its major applications.

• Expanding textile sector

The increasing textile industry worldwide has significantly boosted the demand for polyacrylonitrile, which is used in making textiles. According to the Textile Exchange, acrylic fibers had a production volume of around 1.6 million tonnes and a market share of 1.4% of the global fiber market in 2022. The market share of recycled acrylic is estimated at around 0.5% of total acrylic fiber production in 2022. It is used as a substitute for wool in making commercial fibers.

The polyacrylonitrile market is segmented into five regions worldwide:

By geography, the polyacrylonitrile market is segmented into North America, South America, Europe, the Middle East and Africa, and Asia Pacific. The major economies like China, Japan, India, and South Korea dominate the Asia-Pacific region. Some of the fastest-growing emerging economies are from this region, such as ASEAN countries.

The Asia Pacific region is expected to see notable growth in the polyacrylonitrile market due to increasing applications in textiles, production of carbon fiber, and outdoor products. India is the second-largest producer of textiles and garments. Indian textiles and apparel industry held 4% of the global trade in textiles and apparel in 2023. Thus, the consumption of the raw materials required for textiles and apparel is rising in these economies.

North America is expected to have a significant market share for polyacrylonitrile, as the demand for graphene products (carbon fiber across industries) has been noticeable. Moreover, according to the data from the International Energy Agency, electric vehicle sales in the USA have seen an increase of 40.00% from 2022 to 2023 and a 21.43% increase from 2023 to 2024. These figures indicate the importance of EV automotive vehicles and their related parts and equipment. Manufacturers of automobiles are increasingly becoming concerned about the body weight and toughness of the vehicle, as it will save energy for the users. Thus, the demand for carbon fibers is increasing in the automotive segment.

Product Offerings in the Polyacrylonitrile Market:

• Polyacrylonitrile by Sigma-Aldrich – Polyacrylonitrile by Sigma-Aldrich is a synonym for Vinyl cyanide. Available in a pack size of 50 g, the availability price is about ?19,930.00, and 100 g is priced ?33,100.00.
• Polyacrylonitrile by Otto Chemie Pvt. Ltd- Polyacrylonitrile by Otto Chemie Pvt. Ltd. is having mol. weight (MW) of 150,000 and in packing of bottle/drum. It is available in 50 gm, 100 gm, and 5 x 1 kg.

Key developments in the Polyacrylonitrile market:

The major leaders in the Polyacrylonitrile Market are Merck KGaA, Otto Chemie Pvt. Ltd., Vizag Chemical, Goodfellow Corporation, Alfa Chemistry, and Formosa Plastics Materials, among others. These key players implement growth strategies such as product launches, mergers, acquisitions, etc., to gain a competitive advantage. For Instance,

• In October 2022, China Petroleum & Chemical Corporation (Sinopec) produced China's first batch of large tow carbon fiber at the company's production base in Shanghai. This made the company the first in the country and fourth in the world to possess large tow carbon fiber technology. Sinopec's production line has adopted its self-developed polyacrylonitrile base. The project was expected to be in full production in 2024. They projected an annual production capacity of 24,000 tons of protofilament and 12,000 tons of large tow carbon fiber.

The Polyacrylonitrile Market is segmented and analyzed as below:

• By Type
  • Acrylic Staple Fiber
  • Acrylic Tow
  • Acrylic Top
• By Application
  • Filtration
  • Textiles
  • Precursors To Carbon Fiber
  • Outdoor Products
  • Fiber-reinforced Concrete
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Rest of the Middle East and Africa
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Rest of Asia-Pacific

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base and Forecast Years Timeline

1.8. Key benefits for the stakeholders

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Process

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. Analyst View

4. MARKET DYNAMICS

4.1. Market Drivers

4.1.1. Increasing demand for carbon fiber

4.1.2. Expanding textile sector

4.1.3. Used for water purification

4.2. Market Restraints

4.2.1. The availability of substitutes

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. The Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. POLYACRYLONITRILE MARKET BY TYPE

5.1. Introduction

5.2. Acrylic Staple Fiber

5.3. Acrylic Tow

5.4. Acrylic Top

6. POLYACRYLONITRILE MARKET BY APPLICATION 

6.1. Introduction

6.2. Filtration

6.3. Textiles

6.4. Precursors To Carbon Fiber

6.5. Outdoor

6.6. Fiber-reinforced Concrete

7. POLYACRYLONITRILE MARKET BY GEOGRAPHY

7.1. Global Overview

7.2. North America

7.2.1. United States

7.2.2. Canada

7.2.3. Mexico

7.3. South America

7.3.1. Brazil

7.3.2. Argentina

7.3.3. Rest of South America

7.4. Europe

7.4.1. United Kingdom

7.4.2. Germany

7.4.3. France

7.4.4. Italy

7.4.5. Spain

7.4.6. Rest of Europe

7.5. Middle East and Africa

7.5.1. Saudi Arabia

7.5.2. United Arab Emirates

7.5.3. Rest of the Middle East and Africa

7.6. Asia-Pacific

7.6.1. China

7.6.2. India

7.6.3. Japan

7.6.4. South Korea

7.6.5. Taiwan

7.6.6. Thailand

7.6.7. Indonesia

7.6.8. Rest of Asia-Pacific

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

8.1. Major Players and Strategy Analysis

8.2. Market Share Analysis

8.3. Mergers, Acquisitions, Agreements, and Collaborations

8.4. Competitive Dashboard

9. COMPANY PROFILES

9.1. Merck KGaA

9.2. Otto Chemie Pvt. Ltd.

9.3. Vizag Chemical

9.4. Goodfellow Corporation

9.5. Alfa Chemistry

9.6. Formosa Plastics Materials

9.7. Toray

9.8. Pasupati Acrylon

9.9. SGL Carbon

9.10. Sinopec

9.11. Sarchem Laboratories Inc.

Merck KGaA

Otto Chemie Pvt. Ltd.

Vizag Chemical

Goodfellow Corporation

Alfa Chemistry

Formosa Plastics Materials

Toray

Pasupati Acrylon

SGL Carbon

Sinopec

Sarchem Laboratories Inc.