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Haydale gets foothold in growing Asia market with supply agreement
Haydale Graphene Industries' Taiwan based division Haydale Technologies has signed a supply agreement with a Japanese inks firm.
It will supply Tokyo based company Graphene Platform Corp (GPC) with specific graphene-based and other specialty inks which will in turn be targeted at the printed electronics market primarily in Japan, but also to other Asian countries where there is a significant market.
Ray Gibbs, chief executive of Haydale, said: "We have been working for many months on ink formulations with GPC's Graphene-Like-Graphite materials in order to meet customers' specifications. Now is the right time to formalise the joint development work with a supply agreement. Japan is a big market and GPC's presence is highly regarded and we look forward to working with them."
According to market research reports, the printed electronics market is expected to reach $12.1bn by 2022, up from $3bn in 2015, with the Asia Pacific region forecast to account for the largest share of the global market.
The emergence of China, Japan, India and South Korea as major electronics manufacturers is boosting the demand for printed electronics systems.
Shoji Hasegawa, chief executive of Graphene Platform Corp, said: "Haydale's specialty formulated inks offer unique properties specifically according to the individual customers' needs and will help us when marketing to the printed electronics market, an area we know well and that has good sales potential."
Haydale Graphene Industries manufactures a number of products, such as carbon fibre and silicon carbide, with applications in printing, automobiles, cookware and more.
At 1010 GMT, Haydale shares were up 4.41% at 118.50p.