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"Nanomaterials’ use is only going to keep growing’

A new report from Lux Research revealed that $147 billion worth of nano-enabled products were produced in 2007; this figure is expected to grow to $3.1 trillion in 2015. ‘Past 2012, however, nanotech’s impact will primarily deepen as new nanotech innovations get incorporated into product categories that already make use of existing nanotech enhancements,’ noted Michael Holman, Research Director at Lux Research. ‘It’s during this later time frame that more disruptive innovations like new types of nano-enabled memory chips will begin to make their presence felt’.

The report, entitled Nanomaterials State of the Market Q3 2008: Stealth Success, Broad Impact draws on data from over 1,000 primary interviews Lux Research analysts conduct with technology developers annually, as well as a new survey of 31 leading corporations active in nanotechnology.

According to a press release, the report concludes that:
  • The materials and manufacturing sector saw the greatest impact in 2007 – incorporating it in $97 billion in products across the value chain – as nanotech made its way into intermediates like coatings and composites for products like automobiles and buildings. Electronics followed at $35 billion from emerging nanotech applications in fields like displays and batteries, while healthcare trailed with $15 billion in revenue, driven by pharmaceutical applications.
  • Electronics applications of emerging nanotechnology will gain ground through 2015, growing at a 51% compound annual growth rate (CAGR) to reach $940 billion, while healthcare and life sciences will grow at 46% annually to reach $31 billion. However, the materials and manufacturing sector will remain predominant, growing at 45% to reach $1.8 trillion worth of product revenue incorporating emerging nanotech.
  • Nanotech’s greatest economic impact is currently in the U.S., where companies incorporated nanotech into $59 billion in products in 2007; Europe followed at $47 billion, Asia/Pacific accounts for $31 billion and the rest of the world for $9.4 billion. However, Europe’s steeper CAGR of 48% will bring it to $1.09 trillion by 2015, meeting the U.S.’s $1.08 trillion; and Asia will remain in third place at $717 billion.
  • Nanotechnology R&D hit $13.5 billion in 2007, up 14% from 2006. Global corporate R&D spending grew 23% to reach $6.6 billion, passing government spending for the first time – and dwarfing VC investments.
'Nanotech isn’t a new market or industry – it’s an enabling technology that improves many types of products,’ said Jurron Bradley, Ph.D., Senior Analyst at Lux Research. ‘[…] These innovations aren’t always visible to consumers, but they improve products and boost margins. That’s why nanomaterials’ use is only going to keep growing’.
 
 
Follow these links to read the complete press release or to access the report via the Lux Research Client Portal (registered subscribers only).
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