International Graphene Alliance was established in the eastern city of Ningbo on Wednesday to promote the industrialization of the world's thinnest manmade material.

The alliance, headquartered in China, is the first non-governmental graphene alliance. It has 23 members, including China, the United States, Japan and Britain.

Graphene, first isolated by scientists in 2004, is a carbon isomer that can conduct heat and electricity with great efficiency. Its potential market is worth hundreds of billions of US dollars as the material is being used in producing semicondutors and electronics.

"If any enterprise or institution needs graphene programs, we can provide information, talent, consulting and financing," said Li Yichun, secretary general of China Graphene Industry Technology Innovation Strategic Alliance.

The alliance was launched at the ongoing 2014 China International Graphene Innovation Conference.