Nanotechnology is an evolving technology that has influenced a large number of industrial segments and is set to play a pivotal role in various industry segments in the 21st century. The technology has proven its significance in today’s cut throat competitive world. The economic activity generated from nanotech has been high in magnitude and wide in scope. In coming years, nanotechnology based products will have a huge impact on nearly all-industrial sectors and will enter the consumer market in large quantities. Considering enormous potential of the market, the governments across the world are investing huge money in the industry.
According to leading research reports the global nanotechnology market is projected to grow at a CAGR of around 19% during 2011-2013. Expectations abound that the global market for nanotechnology based manufactured goods will be of worth US$ 1.6 Trillion, representing a CAGR of around 50% during 2009-2013. This prospective growth will be largely driven by massive investment in nanotechnology R&D and commercialization by both governments and corporates worldwide.
Research also reveals that, at the regional level, the US is the most prominent market and accounts for an estimated share of around 35% of the global nanotechnology market. Although several developing economies such as, China, Korea, India, and Brazil have started to invest in nanotechnology R&D, the US will continue to account for the largest share in the industry in future. The report also includes comprehensive information regarding the development of nanotechnology market in the US, with focus on budget allocation for R&D, agencies working in this field, and federal funding.
Although developed markets such as, the US, France, Germany etc. have drafted regulations for the nanotechnology industry long time back, the nanotechnology market is still at its nascent stage. Even, developing markets such as, Brazil, China, India, and Taiwan have proposed plans to draft regulations for the industry.