PUBLISHER: Polaris Market Research | PRODUCT CODE: 1903858
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1903858
The PAN-based carbon fiber market size was valued at USD 4.04 billion in 2025 and is expected to reach USD 10.65 billion by 2034, growing at a CAGR of 11.4%. PAN-based carbon fibers are high-performance materials made from PAN precursor fibers. They help in reducing weight, improving durability, and increasing energy efficiency in the aerospace industry, the wind energy industry, the automotive industry, and other sectors.
What's Included in PAN-based Carbon Fiber Report?
This report examines the market for carbon fibers from PAN with respect to types of modulus, namely normal modulus, intermediate modulus, and high modulus fibers. Carbon fiber types can be segregated into normal modulus carbon fibers, intermediate modulus carbon fibers, and pitches or high modulus carbon fibers, depending on the application area or the industry in question.
What are Driving Factors and Emerging Trends of PAN-based Carbon Fiber Market?
According to the study, the PAN-based carbon fiber industry is growing consistently in the aerospace sector, wind energy industry, automotive sector, and industrial sector. The major factors that contribute to the growth of this industry are:
Lightweighting Demand in Aerospace and EVs: The aircraft and electric vehicle manufacturers are increasing their utilization of carbon fiber composites to reduce weight and improve efficiency.
Expansion of Wind Energy Installations: The growing size of modern wind turbine blades has also led to an increase in the use of high-strength/fatigue-resistant PAN-based carbon fibers in onshore and offshore installations.
Focus on Sustainable Carbon Fiber and Recycling: Companies are investing in the domain of recycled carbon fibre materials and the optimizations of the PAN precursor materials to address the needs of cost as well as sustainability.
Analysts assessed these different factors, besides carbon fibre production and plans to expand production capacities, to form a real-world market forecasting tool or information system.
Which Key Segments are Driving PAN-based Carbon Fiber Market?
By Modulus Type Analysis
Standard modulus carbon fiber segment dominated due to wide acceptance in automotive, industrial, and sporting applications.
By Application Analysis
Carbon fiber composites dominated the market share in 2025 on account of structural use across aerospace, automotive, wind energy, and industrial applications.
By End-Use Industry Analysis
The aerospace and defense segment had the leading position in the market due to continuous demand for lightweight, high-strength structural materials.
Which is Dominating Region in PAN-based Carbon Fiber Market?
North America: North America dominated in 2025 due to strong aerospace carbon fiber market demand and established manufacturing capacity.
Asia Pacific: Asia Pacific is expected to grow fastest due to expanding wind energy installations and rising EV production.
Where is PAN-based Carbon Fiber Market Headed?
According to analysts, the PAN-based carbon fiber market is moving toward steady growth supported by aerospace production, renewable energy expansion, and increasing adoption of carbon fiber composites in mobility and energy storage applications.
What PAN-based Carbon Fiber Market Report Reveals?
What is the global market size, growth trend, and CAGR for PAN-based carbon fiber through 2034?
What are the factors driving the market growth?
Who are the top companies, and what is their relative position in terms of competitive positioning?
How do different modulus types, including standard, intermediate, and high modulus, shape the PAN-based carbon fiber market landscape?
How does the market vary by application, end-use industry, and geography, and which are the leading sectors?
What are the trends in the regions of North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa?
Where do new opportunities arise in the PAN-based carbon fiber market?
Who are Major PAN-based Carbon Fiber Market Contributors?
According to our study, a few firms are leading in the global market. The following are some of the major market contributors:
Aksa Carbon
Formosa Plastics
Hexcel Corporation
Hyosung Advanced Materials
Jiangsu Hengshen Co., Ltd.
Jilin Chemical Fiber Group Co., LTD.
Mitsubishi Chemical Carbon Fiber & Composites (MCC)
SGL Carbon SE
Shanxi Coal Group Carbon Fiber Division
Taekwang Industrial
Teijin Limited
Toray Industries, Inc.
UMATEX ROSATOM
Zhongfu Shenying Carbon Fiber Co., Ltd.
Market Segments Covered
By Modulus Type Outlook (Revenue, USD Billion, 2021-2034)
Standard Modulus
Intermediate Modulus
High Modulus
By Application Outlook (Revenue, USD Billion, 2021-2034)
Composites
Non-composites
By End-Use Industry Outlook (Revenue, USD Billion, 2021-2034)
Aerospace & Defense
Wind Energy
Automotive & EVs
Pressure Vessels & Hydrogen Storage
Sports & Leisure
By Regional Outlook (Revenue, USD Billion, 2021-2034)
North America
U.S.
Canada
Europe
Germany
France
UK
Italy
Spain
Netherland
Russia
Rest of Europe
Asia Pacific
China
India
Japan
Malaysia
South Korea
Indonesia
Australia
Rest of Asia Pacific
Latin America
Mexico
Brazil
Argentina
Rest of Latin America
Middle East & Africa
Saudi Arabia
UAE
South Africa
Israel
Rest of Middle East & Africa