Polyacrylonitrile (PAN)-based carbon fibers possess outstanding mechanical strength, and have found numerous applications in ultrahigh performance structural composites for aerospace applications. 1 These fibers have a low density of about 1.8 g cm À3 and can provide energy efficiency for various applications, including automotive, civilian aeronautical, energy generation, and sporting goods. 2 However, the higher cost of carbon fibers compared with other reinforcing materials (namely, glass fibers) limits their use for the high-end applications where strength-to-density ratio is critical. The demand for carbon fibers is expected to grow to about 150 000 metric tons over the next decade from the current demand of 40 000 metric tons. However, a large fraction of the increase is anticipated in the industrial sector that is