Potential for South Korea to dominate graphene market
Proactive Investors
Published Jan 05, 2024 10:46
Updated Jan 05, 2024 11:30
Potential for South Korea to dominate graphene market
Graphene is often hailed as a revolutionary material for its application in next-generation technologies. With the graphene market maturing across energy storage to thermal management and composites, there are high-value opportunities for manufacturers of consumer electronics.
According to Dr Conor O’Brien, Technology Anaylst at IDTechEx, the growth of the graphene market plays in favour of South Korean companies.
South Korea is a global technology leader and home to tech giants like Samsung (KS:005930) and LG, known for producing a range of electronic products. These companies are at the forefront of incorporating innovative materials like graphene into their manufacturing processes.
“South Korea has traditionally been seen as a leading global technology hub, home to multinational giants such as Samsung and LG. These companies produce a variety of electronic goods, such as smartphones, screens, cameras, and batteries.
"Naturally, this is a fast-paced industry with a focus on innovation in terms of materials, applications, and manufacturing techniques. As such, emerging materials, such as graphene, are the subject of extensive research by these leading multinationals,” Dr O’Brien writes.
Graphic showing some of the leading South Korean players in the graphene and carbon nanotube (CNT) market.
Shifting strategies
Samsung, historically known for its robust research and development in nanocarbons, has shifted its strategy towards collaborating with external suppliers. Many of these suppliers have roots in Samsung, having been established by former employees of the company.
The map provided above illustrates some of these emerging companies. Among them, BestGraphene specialises in producing functionalised few-layer graphene (FLG), which finds applications in a variety of areas such as battery composite materials, chip component additives, materials for heat dissipation and other composite materials.
Another notable company, KB Element, creates FLG using a plasma exfoliation process and has formed partnerships with industry giants Samsung and LG, providing materials for anti-static displays.
South Korea has firmly established itself in various application areas ideal for nanocarbons like graphene. This aligns closely with the country's prominence in the carbon nanotube (CNT) market, where three of the top suppliers by capacity are South Korean based. LG Chem, in particular, stands out in the CNT market, having developed a comprehensive, vertically integrated supply chain specifically for battery applications.
In a similar vein, both JEIO and Kumho Petrochemical are on a path to augment their production capabilities, with a primary focus on energy storage and battery applications, indicating a strong market orientation towards these technologies.
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South Korea well positioned
In the Chinese market, a parallel can be seen with graphene oxide (GO), where Sixth Element has emerged as the global frontrunner in supplying GO. The company has achieved considerable success, particularly in providing GO to major Chinese companies like Huawei. This material is primarily used for thermal management in consumer electronics, demonstrating its critical role in enhancing the performance and durability of these devices.
“From research of the CNT market, IDTechEx note that LG Chem have already established a vertical supply chain for CNTs, and if an indigenous supply chain for graphene is seen as a priority for giants such as LG and Samsung, then the South Korean graphene market could be set for rapid expansion,” Dr O’Brien writes.
For more details on the graphene market, including segmentation by application area, see the IDTechEx market report “Graphene Market & 2D Materials Assessment 2024-2034: Technologies, Markets, Players".
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