Abstract
This paper reviews the research and development activities conducted over the past few decades on carbon fibers. The two most important precursors in the carbon fiber industry are polyacrylonitrile (PAN) and mesophase pitch (MP). The structure and composition of the precursor affect the properties of the resultant carbon fibers significantly. Although the essential processes for carbon fiber production are similar, different precursors require different processing conditions in order to achieve improved performance. The research efforts on process optimization are discussed in this review. The review also attempts to cover the research on other precursor materials developed mainly for the purpose of cost reduction.