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A team of Irish scientists reportedly have found a novel and cost effective method of producing graphene at mass level. The newly discovered technique can be used to produce large amounts of graphene without breaking the bank, scientists claimed. 

Graphene is a one-atom-thick material that is 200 times stronger than steel, more conductive than copper and as flexible as rubber. These properties make this material an excellent choice in wide variety of applications such as building batteries to manufacturing more advanced touchscreen. 

"This shows how industry and academic collaboration can lead to research of the highest calibre, with real commercial applications," said AMBER physicist Jonathan Coleman in a press release. "This paper combines basic and applied research and contains elements of physics, chemistry, materials science and chemical engineering."

Reports suggest that different organizations around the world are pushing their R&D to develop an industrial manufacturing process to create large amounts of high quality graphene. Experts have estimated that the market for this type of material is going to be worth around $100 million within the next 4 years alone.

"It brings together academic expertise with the wealth of experience provided by Dr Keith Paton, Thomas Swan's researcher who is working with us here on-site in AMBER. Graphene has been identified as a life changing material and to be involved at this stage of development is a wonderful achievement," added Coleman.

"Professor Coleman's discovery shows that Ireland has won the worldwide race on the production of this 'miracle material'. This is something that USA, China, Australia, UK, Germany and other leading nations have all been striving for and have not yet achieved," said Sean Sherlock, the Minister for Research and Innovation in Ireland, according to TechTimes.

The findings of the research have been published online in the journal Nature Materials.