Market Insights
Oxidized polyacrylonitrile (PAN) fiber is generated by oxidizing polyacrylonitrile precursor fiber (PAN). The PAN precursor fiber is first created through solution spinning and subsequently treated in a high-temperature air oven to stabilize its molecular structure, enhancing its properties. Additionally, the oxidized PAN tow can undergo further processing, including crimping and cutting, to produce staple fiber and milled fiber, offering versatility for various specific applications. A well-articulated and comprehensive manufacturing process converts the PAN precursor fiber into oxidized PAN, a specialized material prized for its stability and suitability across diverse end uses.
Oxidized PAN fiber products offer exceptional versatility, catering to a wide array of textile processing methods such as needle punching, stitch-bonding, hydroentangling, thermal bonding, chemical bonding, air-laying, wet-laying, ring spinning, stretch-breaking, weaving, knitting, and braiding. This adaptability extends to their diverse range of end uses, including serving as essential components in aircraft brake preforms, providing heat and flame-blocking layers in transportation applications, contributing to thermal, acoustical, and vibration insulation liners, manufacturing flame-resistant apparel, and acting as intumescent mesh materials. Furthermore, these fibers serve as valuable raw materials to produce carbonized and graphitized yarns, fabrics, and felts, making them indispensable across various industries for their multifaceted utility.
Oxidized PAN fiber, a unique market, could not escape the significant challenges posed by global trends, experiencing a decline of 40% in 2020, largely attributed to the impact of the pandemic. This decline closely mirrored the downturn in the aircraft brake market. However, as we transitioned into 2021, the market began to show signs of recovery. New opportunities emerged in areas such as energy storage, heat insulation, and protective apparel applications. Overall, the oxidized PAN fiber market is poised for a promising future, with a projected compound annual growth rate (CAGR) of 9.3% in the long term, ultimately reaching a demand of US$ 323 million in 2028.
Recent Expansion: The market for oxidized PAN fiber is on a consistent growth trajectory, propelled by its pivotal role in advanced composite materials and evolving applications. Manufacturers are seizing this opportunity to position themselves as key suppliers in these burgeoning markets. By ramping up their capacities, these industry leaders can achieve economies of scale, reduce production costs, and maintain competitive pricing, reinforcing their market presence. For instance,
- In 2018, Teijin Limited strategically aimed to broaden the sales of Pyromex oxidized PAN fiber for aircraft brake pads. This endeavor involved the conversion of a carbon fiber production line into a Pyromex production line at Toho Tenax America, Inc., with the successful completion of this conversion, the production line is now fully operational and prepared for the commencement of Pyromex fiber production.
- In 2021, Zoltek Corporation made significant strides in solidifying its dominance in the oxidized PAN (Polyacrylonitrile) fiber market by implementing a strategic expansion plan. One pivotal achievement was the substantial increase in production capacity. This expansion not only bolstered Zoltek's market presence but also allowed the company to meet the escalating global demand for oxidized PAN fiber from diversified end-use industries.
Segments Analysis
Segmentations
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List of Sub-Segments
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Dominant and Fastest-Growing Segments
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Application-Type Analysis
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Aircraft Brakes, Carbon and graphite Felts, Friction Linings and brake Pads, Protective Clothing, Seat Fireblockers, and Others.
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Carbon and graphite Felt is likely to register the highest CAGR during the forecast period.
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End-Use Industry Analysis
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Aerospace, Clothing, Energy Storage, Thermal Management, Transportation, and Others.
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Aerospace is likely to account for the majority of the market share in the coming years.
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LOI-Type Analysis
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<45% and ≥45%.
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≥45% segment is expected to dominate the market and is likely to maintain its position as the fastest-growing segment in the foreseeable future.
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Form-Type Analysis
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Continuous Tow, Staple Fiber, and Milled Fiber
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Staple Fiber is anticipated to exhibit the highest growth in the upcoming years.
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Regional Analysis
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North America, Europe, Asia-Pacific, and The Rest of the World
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Asia-Pacific is likely to grow at the fastest rate.
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Based on the application type, the oxidized PAN fiber market is segmented into aircraft brakes, carbon & graphite felts, friction linings & brake pads, protective clothing, seat fireblockers for aircraft/marine/rail, and others. Carbon & graphite felts accounted for the highest growth during the forecast period. They find applications in emerging fields such as energy storage, particularly in redox flow batteries and fuel cells, where their unique characteristics are highly valued. Additionally, the adoption of carbon and graphite felts in thermal management solutions and advanced manufacturing processes has contributed to their substantial market growth, making them a key driver for oxidized PAN fibers.
Based on the end-use industry, the market is segmented into aerospace, clothing, energy storage, thermal management, transportation, and others. Aerospace is likely to account for the majority of the share in the coming years, driven by growing demand for lightweight yet high-strength materials in aerospace applications to improve the efficiency and overall performance of aircraft. Oxidized PAN fibers play a crucial role in the production of advanced materials used in aerospace, making them indispensable for this industry.
Based on the LOI type, the market is segmented into <45% and ≥45%. The segment with a limiting oxygen index (LOI) of ≥45% is projected to lead the market and sustain its status as the fastest-growing segment in the foreseeable future due to its inherent fire-resistant properties. LOI measures a material's flammability, with a higher value indicating greater flame resistance, and, in many industries, particularly those focused on safety and fire prevention, materials with an LOI of ≥45% are highly sought after.
Based on the form type, the market is segmented into continuous tow, staple fiber, and milled fiber. Staple fiber is anticipated to exhibit the highest growth in the coming years. Staple fibers are used to create flame-resistant and heat-protective clothing for industries like firefighting, welding, and chemical processing, where worker safety is a top priority. Staple fibers can be employed either as 100% standalone materials or as part of fiber blends to manufacture top-tier nonwoven felts and the most exquisite spun yarns.
By region, Asia-Pacific is expected to remain the largest market for oxidized PAN fibers during the forecast period. The expansion of the aerospace and automotive industries, coupled with investments in renewable energy, consumer electronics, research & development, and cost-effective production facilities, contribute to the region's dominant position in the market.
Segmentations
The oxidized PAN fiber market is segmented into the following categories:
Oxidized PAN Fiber Market, by Application Type
• Aircraft Brakes (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Carbon & Graphite Felts (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Friction Lining & Brake Pads (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Protective Clothing (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Seat Fireblockers (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Oxidized PAN Fiber Market, by End-Use Industry
• Aerospace (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Clothing (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Energy Storage (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Thermal Management (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Transportation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Oxidized PAN Fiber Market, by LOI Type
• <45% (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• ≥45% (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Oxidized PAN Fiber Market, by Form Type
• Continuous Tow (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Staple Fiber (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Milled Fiber (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Oxidized PAN Fiber Market, by Region
• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and The Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, and The Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)