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STUDY BACKGROUND
While it appears inevitable that nanotechnology will have a broad and fundamental impact on many sectors of the U.S. economy, various technical, marketing and other hurdles need to be overcome before nanotechnology fulfils this promise. These challenges and differences of opinion regarding commercial applications are reflected in the widely diverging estimates of the U.S. and global nanotechnology markets.
Estimates of the global nanotechnology market in 2010 range from about $15.7 billion (the figure used in this report) to $1 trillion. By 2016, the market may be worth more than $2.4 trillion, according to different analysts. These differences reflect not only different analytical methods and assumptions, but also different definitions of the nanotechnology market (e.g., whether to include decades-old technologies such as carbon black rubber reinforces and photographic silver, or whether to base the market value on nanotechnology inputs alone, as opposed to the total value of products that incorporate nanotechnology).
Perhaps as a reflection of the difficulty of quantifying the market for nanotechnologies, some analysts downplay the commercial dimensions of the nanotechnology market and focus instead on the supply side, i.e., the development of new Nanoscale technologies and applications. These analysts have made valuable contributions, raising investors’ awareness of and interest in nanotechnologies.
However, by itself, the work of these analysts does not provide sufficient information in order to guide corporate or individual investment decisions. Investors require additional data, such as the size of specific nanotechnology markets, prices, and competition, as well as potential regulation.
