Global Nanotechnology Industry
The world nanotechnology market is expected to exceed $30 billion by 2015, according to research from Global Industry Analysts. The nanotechnology industry develops technology used to manufacture products in new ways, and is more effective than previously existing technologies.
The global nanotechnology industry was hit by the economic recession, slowing growth. However, demand for nanotechnology-enabled products – particularly from the defense, pharmaceutical and healthcare sectors – has enabled the market to weather the storm. These sectors were less affected by the harsh economic climate than other end-use industries, cushioning the nanotechnology market from the blow of the recession.
Increased investment from government and private sectors has enabled players in the nanotechnology industry to carry out beneficial research and development initiatives. Growth in other markets like automotives, electronics, semiconductors and chemicals has also helped spur recovery, with the industry expected to see strong growth over the coming years.