Global Industry Analysts has released a new market report titled ‘Nanotechnology: A Global Outlook.’ According to the report, the market value of the global nanotechnology industry will be $30.4 billion by the fiscal year 2015.
Nanotechnology is a versatile technology that helps develop innovative production methods. The market for nanotechnology-enabled products has retained its value even during the economic downturn thanks to the demand in the pharma, healthcare and defense markets. The worldwide nanotechnology market will see strong rise in demand in the near future due to revival in major markets, including automotives, chemicals, electronics and semiconductors, and increase in private and government sector investment in research and development.
At present, the chemical industry leads the nanotechnology field in terms of actual product commercialization and maturity of research and development activities and nanomaterials are the most profitable product segment. Nanofilms market is growing rapidly, thanks to the use of materials in a variety of applications such as semiconductor technology, wireless communications, photonics, light-emitting diodes and high-efficient solar cells.
Corporate R&D investment and government funding represent the majority of funds offered to the nanotechnology industry. However, venture capital investments are minimal in the industry. One of the major bottlenecks in commercializing nanotechnology is the time delay in developing necessary research and development laboratories. The United States and Europe will dominate the nanotechnology industry until the fiscal year 2015 but their market values are anticipated to diminish in the coming few years. On the other hand, Asia Pacific’s share in the nanotechnology industry is anticipated to grow significantly due to constant investments.