Global Polyacrylonitrile (PAN) Market Overview
Product Overview and Scope of Polyacrylonitrile (PAN)
Polyacrylonitrile (PAN) is a synthetic polymer that belongs to the family of acrylic resins. It is a versatile and widely used polymer due to its excellent properties and various applications in different industries. PAN is made up of repeating units of acrylonitrile monomers. The chemical formula for PAN is (C3H3N)n, where "n" represents the number of repeating units, or monomers, in the polymer chain.
Polyacrylonitrile is a linear polymer composed of acrylonitrile monomers. Acrylonitrile is a colorless, volatile liquid with a faint, sweet odor. In the production of PAN, acrylonitrile undergoes polymerization, where the monomers join together to form a long chain polymer. This polymerization process is often carried out using various methods, such as solution polymerization, emulsion polymerization, or suspension polymerization. The choice of method can influence the properties of the final PAN product.
Carbon fiber production is one of the most significant applications of PAN is in the production of carbon fibers. PAN fibers are heated in an oxygen-deprived environment, resulting in the carbonization of the polymer, forming carbon fibers. Carbon fibers are widely used in aerospace, automotive, sporting goods, and other industries due to their exceptional strength-to-weight ratio and high stiffness.
PAN fibers are used in the textile industry to produce acrylic fibers, which are known for their softness, warmth, and dye retention properties. Acrylic fabrics are often used as alternatives to natural fibers like wool or cashmere. PAN membranes find use in water treatment processes like reverse osmosis and ultrafiltration due to their good chemical resistance and selective permeability.
Properties of Polyacrylonitrile (PAN):
• High Tensile Strength
• High Modulus of Elasticity
• Chemical Resistance
• Flame Retardance
• Thermal Stability
• Low Density
• Electrical Insulation
• Low Moisture Absorption
Global Polyacrylonitrile (PAN) Market –Industry Analysis
Market Drivers
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Increasing demand for Polyacrylonitrile (PAN) fibers in the textile industry significantly boost the market growth
The increasing demand for Polyacrylonitrile (PAN) fibers in the textile industry is driven by several factors, including population growth, rising disposable incomes in emerging economies, and the unique properties of PAN fibers.
The world's population has been steadily increasing, particularly in emerging economies and developing countries. A larger population naturally leads to a higher demand for clothing and other textile products, such as carpets and home furnishings. As people's basic needs for clothing are met, they tend to seek better quality and more varied textile products, driving the demand for innovative materials like PAN fibers.
In many emerging economies, there has been a notable increase in disposable incomes due to economic growth and improvements in living standards. With higher disposable incomes, consumers have more purchasing power and are willing to spend on higher-quality and fashionable clothing and textiles. PAN fibers offer several advantages, including softness, color fastness, and durability, making them a preferred choice for consumers seeking better-quality products.
PAN fibers possess desirable characteristics that make them attractive to the textile industry. They have excellent strength and abrasion resistance, making them suitable for durable and long-lasting textiles. Additionally, PAN fibers can be easily blended with other fibers, such as polyester or cotton, to create fabrics with enhanced properties like improved wrinkle resistance, moisture management, and thermal insulation.
The textile industry is increasingly focusing on sustainability and eco-friendly materials. PAN fibers are known for their chemical resistance, which enables them to be recycled and reused in various applications, contributing to a more sustainable textile industry.
In addition to consumer textiles, PAN fibers find applications in industrial and protective clothing, such as workwear and military uniforms. These specialized applications require high-performance materials that offer resistance to chemicals, flames, and abrasion, all of which are attributes of PAN fibers.
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Rising demand for lightweight and high-strength materials from multiple end-use industries significantly boost the market growth
Global Polyacrylonitrile (PAN) Revenue by Region (2018-2023)
Global Polyacrylonitrile (PAN) Revenue and Market Share (%) by Region (2018-2023)
|
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
CAGR |
|
|
North America |
XX |
XX |
XX |
XX |
XX |
XX |
XX |
|
Europe |
XX |
XX |
XX |
XX |
XX |
XX |
XX |
|
Asia-Pacific |
XX |
XX |
XX |
XX |
XX |
XX |
XX |
|
Latin America |
XX |
XX |
XX |
XX |
XX |
XX |
XX |
|
Middle East & Africa |
XX |
XX |
XX |
XX |
XX |
XX |
XX |
|
Total |
XX |
XX |
XX |
XX |
4.86 |
XX |
5.6% |
Global Polyacrylonitrile (PAN) market was valued at USD 4.86 billion, in 2022 and is expected to grow at a CAGR of 5.6% over the forecast period, from 2023 to 2030
Global Polyacrylonitrile (PAN) Market Regional Analysis
Global Polyacrylonitrile (PAN) Market Regional Analysis
The Asia Pacific polyacrylonitrile market is expected to hold the largest market share during the forecast period. This is due to high polyacrylonitrile demand from the automotive, construction, and textile industries. Presence of several key manufacturers of polyacrylonitrile in the region. Rising demand for polyacrylonitrile in various applications like textiles, plastics, and carbon fiber production. Large consumer base and urbanization & industrialization in the region. Moreover, China is the largest producer and consumer across this region owing to its large textile industry base. These all factors affect the growth of the global polyacrylonitrile market in this region.
Global Polyacrylonitrile (PAN) Market Segmentation Analysis
Global Polyacrylonitrile (PAN) Market Segmentation Analysis by Type
• Acrylic Filament
• Carbon PAN Fiber
• Acrylic Staple Fiber
• Acrylic Tow
• Others
|
Global Polyacrylonitrile (PAN) Market, by Type |
|
|
|
Source: Cognitive Market Research |
Based on type, acrylic staple fiber segments are a significant market revenue share in the polyacrylonitrile market. This is attributed to the increasing use of acrylic staple fiber type of polyacrylonitrile in the production of textiles. It is made from acrylonitrile and other chemicals. Acrylic staple fiber has a soft and warm texture similar to cashmere and wool. In addition, it is used in the production of non-woven fabrics, so it can be found in a wide range of products such as diapers, filters, and insulation. The fibers are spun into yarns and used to make fabrics such as Sweaters, socks, and carpets. Acrylic staple fiber is a type of synthetic fiber made from the polymerization of acrylonitrile, which is a highly reactive and flammable organic chemical. Thus, this segment is driving the demand in the global polyacrylonitrile market.
Global Polyacrylonitrile (PAN) Market by Application:
• Filtration
• Textiles
• Precursors to Carbon Fiber
• Fiber-Reinforced Concrete
• Composites
• Adhesives
• Others
Global Polyacrylonitrile (PAN) Market by End-Use Industry:
• Construction
• Automotive
• Sportswear
• Aerospace
• Electronics
• Water Treatment
• Others
Global Polyacrylonitrile (PAN) Market Players
• DOLAN GmbH
• Teijin Carbon Europe GmbH
• DowAksa
• TORAY INDUSTRIES, INC.
• SGL Carbon
• INEOS
• Mitsubishi Chemical Corporation
• Formosa M Co., Ltd.
• Solvay
• ZOLTEK Corporation
Global Polyacrylonitrile (PAN) Market Related Reports
• Global Polyacrylonitrile (PAN) and Parts Market
• Global Polyacrylonitrile Fiber Market
• Global Polyacrylonitrile (PAN) Powder Market
• Global Polymer Nanomembrane Market
• Global Partially Oxidized Polyacrylonitrile Fiber Market
Global Polyacrylonitrile (PAN) Manufacturers Profiles/Analysis
SGL Carbon
SGL Carbon Basic Information, Manufacturing Base, Sales Area, and Competitors
|
Sr. No. |
Item |
Description |
|
1 |
Company Name |
SGL Carbon |
|
2 |
Website |
www.sglcarbon.com |
|
3 |
Established Date |
1992 |
|
4 |
Headquartered |
Germany |
|
5 |
Market Position/ History |
SGL Carbon was founded in 1992 and is headquartered in Germany. The company is involved in developing and manufacturing carbon-based materials and products. In 2009, the company comes in a joint venture with BMW. |
|
6 |
Sales Area |
Worldwide |
|
7 |
Manufacturing Location |
Europe and North America |
|
8 |
No. of Employees |
~4,760 (As of 2022) |
|
9 |
Competitors |
DOLAN GmbH Teijin Carbon Europe GmbH DowAksa TORAY INDUSTRIES, INC. INEOS Mitsubishi Chemical Corporation Formosa M Co., Ltd. |
|
10 |
CEO |
Torsten Derr |
|
11 |
Ownership Type |
Public |
|
12 |
Contact Information |
Soehnleinstraße 8 65201 Wiesbaden, Germany Tel: +49 611 6029-0 |
Business Segment/ Overview:
SGL Carbon. employs a total of 4,760 people in 31 locations in Europe, Asia, and North America (as of December 31, 2022). The company's core business comprises four business units: Carbon Fibers (CF), Composite Solutions (CS), Graphite Solutions (GS), and Process Technology (PT). Carbon fiber is produced in Europe and North America.
The graphite solution segment includes Carbonized Rayon Fabric, ECOPHIT Graphite Lightweight Construction Panels, SIGRACELL Bipolar Plates, SIGRACELL Expanded Graphite Battery Additives, SIGRAFLEX Carbon and Graphite Textile Yarns, SIGRAFLEX Flexible Graphite Foil and Sheets for Motor Vehicle Gaskets, SIGRAFLEX Flexible Graphite Foil and Tapes, SIGRAFLEX Graphite Foil Yarns, and other. Further, fiber materials include, SIGRABOND Carbon Fiber-Reinforced Carbon, SIGRACELL Battery Felts, SIGRACET Fuel Cell Components, SIGRATHERM Rigid Felt, and SIGRATHERM Soft Felt. Similarly, other product segments include different types types of products.
Markets & Solutions
• Automotive
• Aerospace
• Energy Storage
• Wind Energy
• Compound Semiconductors and LED
• Semiconductor
• Process Technology
• Other Markets
Polyacrylonitrile Product Types Specification
|
Product |
Description |
|
PANOX Oxidized PAN Fibers |
PANOX is an oxidized polyacrylonitrile (PAN) fiber that does not burn, melt, soften, or drip. PANOX can be used in many different fields as an effective protection against fire and heat. The LOI value of PANOX, at >45 %, is considerably higher than that of other fibers and corresponds to combustion class S-a according to DIN 66083. These fibers are used to produce high-performing, economical, flame-proof of, and insulating fabrics. Properties of PANOX
Material data (T320-1.7/1.37-A110)
|
Business Strategy
SGL Carbon is investing in research and development to offer innovative products according to demand and requirements. For instance, the company invested USD 32.14 million in 2022. Further, the company strives to attract the best talent and to develop and retain employees in a targeted manner. Further, the company is engaged in expanding its geographical presence in various continents to strengthen its footprint in the global market. Currently, the company is active in Europe, Asia Pacific, and North America region. Furthermore, the company is expanding its production capacity to meet the increasing demand from the customer market. It is also investing in inorganic development through mergers, acquisitions, and joint ventures to increase its portfolio.
SGL Carbon S.W.O.T Analysis
Strength
- Robust product portfolio
- Focus on research and development
- Significant production capacity
- Wide range of distribution area
Weakness
- Raw material procurement cost
Opportunity
- Growing textile industry
- Technological advancements in manufacturing processes
Threats
- Tariff and trade barriers
- Fluctuations currency rates
