South Korea’s archery skill is expected to be further perfected through a collaboration of two businesses to explore development of a graphene-based archery arrow to aim at the global sporting arrow market which is dominated by U.S. Easton.
Arrow products account for one sixth of the $5.2 billion worldwide market of archery equipment and accessories used in sporting, leisure and hunting activities, according to Baek Jong-dae, CEO of archery gears maker Fivics, and Standard Graphene CEO Lee Jung-hoon, who has been dedicated to research of advanced carbon materials for over 20 years, on Monday.
The two CEOs believe their technology will be recognized by the world once their graphene-based arrows are adopted and used for better performance by players in Korea, the current champion country in Olympic archery.
“The gaming arrow made by the American company uses carbon fiber around an aluminum pipe, but there will be a huge difference in performance between this conventional arrow and our new graphene,” said Baek, who played archery during his school years. “Graphene arrows are lighter and have stronger physical properties. They fly faster and are less affected by wind due to improved durability and vibration damping.”
Fivics is a leading distributor of archery arrows for school training and accessories such as protective finger taps with a 70 percent market share in Korea. The company is also the developer of the world’s first water-proof paper target, which was used in Tokyo Olympics.
Lee, who majored in economics, started business for new materials with a belief in the potential of nanotechnology. Graphene discovered in 2004 is an allotrope of carbon consisting of a single layer of atoms arranged in a two-dimensional honeycomb lattice. It is known to have the highest electrical and thermal conductivity and strength. Standard Graphene is one of the few companies in the world capable of large-scale production while leading the international standards for graphene materials.
The company was also selected as one of the top 10 high-tech material companies by American magazine Manufacturing Technology Insights and one of the 50 Best Companies to Watch 2020 by Silicon Review.
Standard Graphene`s sales increased more than fivefold last year as demand for graphene expanded in broader areas that include water treatment and consumer goods like hiking boots.