In the formation of carbonaceous mesophase by thermolysis (pyrolysis) of isotropic molten pitch, the development of a liquid-crystalline phase is accompanied by simultaneous aromatic polymerization reactions. The reactivity of pitch with increasing heat treatment temperature and its thermosetting nature are responsible for the lack of a true reversible thermotropic phase transition for the bulk mesophase in most pitches. Due to its glass-like nature most of the liquid-crystalline characteristics are retained in the super-cooled solid state.
Source:
PAC, 1995, 67, 473
(Recommended terminology for the description of carbon as a solid (IUPAC Recommendations 1995))
on page 483