Polyacrylonitrile, is a synthetic, semicrystalline organic polymer resin, It is a versatile polymer used to produce large variety of products including ultra-filtration membranes, hollow fibers for reverse osmosis, fibers for textiles, oxidized Polyacrylonitrile fibers. Polyacrylonitrile fibers are the chemical precursor of high-quality carbon fiber. Polyacrylonitrile (PAN) was synthesized for the first time in 1930 by Dr. Hans Fikentscher und Dr. Claus Heuck in the Ludwigshafen works of then IG Farben. However, as PAN is unfusible and not soluble in then common solvents the material was abandoned - similar as were the polymers of tetrafluoroethylene at Hoechst plant of IG Farben- and research was discontinued.
Global polyacrylonitrile market was valued at 6313 Million US$ in 2018 and is projected to reach 8277 Million US$ by 2024, at a CAGR of 4.62% during the forecast period. 
The polyacrylonitrile (PAN) is mainly manufactured by free radical polymerization reaction, a small amount of polyacrylonitrile.is manufactured by anionic polymerization reaction and group transfer polymerization reaction etc.
The polyacrylonitrile (PAN) is mainly used to manufacture polyacrylonitrile fiber, some used to manufacture carbon fibre. the global acrylic fiber market has seen a slow growth owing to increase in raw material prices of acrylonitrile and huge fluctuations in raw material prices. However, increasing apparel industry with changing demographics and climatic conditions are expected to drive the demand of acrylic fiber. However, acrylic fiber is making a household furnishing market a trending market with rapid urbanization and changing lifestyle of consumer. There are various opportunities which help the Acrylic Fiber market to grow but on the different side there are some factors which have hampered the growth and development of this market. The factor which may hamper the growth are fluctuating prices across the region and rising energy and power cost affect the price of acrylic fiber. Moreover, substitute is capturing the market share.
In terms of revenue, the global carbon fiber market was valued at USD 2.34 billion in 2016 and is projected to reach USD 3.73 billion by 2020, expanding at a CAGR of 7.6% from 2014 to 2020.The PAN-based carbon fibers segment accounted for over 85% share of the global carbon fiber market in 2015. The others segment is expected to be the fastest growing segment of the global carbon fiber market in the next few years. Due to exceptional structural properties, the demand for PAN-based carbon fibers is anticipated to increase in the next few years. Increasing demand for PAN-based carbon fibers from different end-users is likely to have a positive impact on the global carbon fiber market in the next few years.
Key players in global Polyacrylonitrile market include: DOLAN GmbH, AKSA, Dralon, Kaltex Fibers, Sarchem Laboratories, TOYOBO, Mitsubishi Chemical, Exlan, Formosa Plastics, Sinopec Corp, CNPC, Gimel Advanced Materials.