Nanotechnology poised for success

The field of nanotechnology, which has found some early players in Northwest Arkansas, will result in remarkable manufacturing and consumer-product developments in the near future.

London-based Companies and Markets issued a recent report suggesting that nanotechnology (the manipulation of very small elements into products, structures, etc.) will pave the way for a revolution in materials, information and communication technology, medicine, genetics as research and development work and prototypes leave the laboratories and are applied to new market environments. Products based on nanotechnology are expected to impact nearly all-industrial sectors in the near future, according to the report.

Key Findings of the Companies and Markets report are:
• The market for nanotechnology in manufacturing goods is forecasted to grow at an annual growth rate of 33% during the period from 2007 to 2015.

• The market for nanotechnology into consumer products is projected to grow at an annual growth rate of 9.4% from 2005 to 2010.

• The global spending on nanotechnology grew by 29% in 2006 with government share standing at 52% followed by corporate and venture capitalist spending.

• Nanotechnology investments by governments were initially led by Europe, North America and Japan. However, countries such as Russia, China, Brazil, Turkey and India have joined the trend and are making significant investments into the sector.