PAN-based Carbon Fiber Market

The increasing demand for PAN-based carbon fiber in the wind energy industry is the major factor driving market growth. Wind turbine blades are key components in wind power generation systems. PAN-based carbon fibers are widely used in the structural spar caps of long wind turbine blades. PAN-based carbon fiber and PAN-based carbon fiber composites are used to manufacture wind blades as they reduce the weight of the turbine blade, resulting in increased length, which enables higher electricity generation. PAN-based carbon fibers provide the best combination of stiffness, strength, and weight, helping manufacturers to produce larger blades and thus provide higher energy output. Due to its corrosion resistance properties, PAN-based carbon fiber has helped the wind energy industry grow by enabling wind turbines to work in the toughest environments.

The high cost of PAN-based carbon fiber is mostly associated with the cost of raw materials or precursors used in the production. The most commonly used precursor for PAN-based carbon fiber manufacturing is the exceptionally costly precursor polyacrylonitrile (PAN), which necessitates a highly complex and detailed manufacturing process. PAN-based carbon fiber production is still relatively limited in scale compared to metals such as steel and aluminum, which leads to inefficiencies and a significant amount of waste. It requires specialized equipment and skilled personnel to ensure the material’s quality and consistency.

The demand for PAN-based carbon fiber composites is increasing in wind energy, offshore, automotive, sporting goods, pipes & tanks, and construction industries. In the wind energy industry, PAN-based carbon fiber is recognized as the only material suitable for developing larger and more powerful generators. Apart from composite applications, PAN-based carbon fibers can also be used in commercial supercapacitors due to their environmentally friendly nature, low specific gravity, biodegradability, sustainability, low cost, and easy processing. PAN-based carbon fibers function as both the electrode-active material and current collector during the fabrication of supercapacitors. PAN-based carbon fibers can easily be integrated with wearable electronic textiles by simple weaving procedures, which has boosted their demand in the development of wearable supercapacitors.

PAN-based carbon fiber manufacturing is highly capital-intensive and requires heavy investments. New technologies need to be developed to produce low-cost PAN-based carbon fiber and PAN-based carbon fiber-reinforced plastic to commercialize end products. Production and development projects are undertaken to reduce the manufacturing costs of PAN-based carbon fiber products through advanced technologies and process solutions. According to some industry experts, the production process of PAN-based carbon fiber is complex and lengthy compared to other alternative products. The development of low-cost and simpler technologies for the commercial production of low-cost fiber composites is a major challenge for governments, research laboratories, and PAN-based carbon fiber producers globally.