Nanotechnology Market Size
In 2007, the nanotechnology market size was divided into the following
areas: Chemicals 53%; semiconductors 34%; aerospace & defense 3%;
pharmaceuticals & healthcare 2%; Automotive 1%; Electronics 2% and
Conglomerate 1% and Unspecified 4%. The dollar amounts these
percentages represent were, however, of very-wide disparity depending
upon who was providing the figures. A review of many market estimates
through Internet research discloses an even wider range of dollar
estimates and commentaries as to how exaggerated many are.
One thing is clear. There is a reasonable current expenditure mainly
from government sources, most of which is directed to Universities and
Research Laboratories. There is also significant market potential in
the future, but many of the predictions being made appear to be
targeted to specific to market segments and even those vary widely.
The latest study that appears reasonable estimates that the worldwide demand for nanoscale materials, devices and tools was $7.6 billion in 2003 and was expected to reach more than $28-billion by the end of 2008. The market is estimated to be growing at a pace more than double that of the biotechnology and global informatics markets.
The nanomaterials segment of the nanotechnology market that includes well-established product area such as carbon black rubber filler, catalytic converter materials and silver nanoparticles that are applied to photographic papers and films, currently accounts for 97.5% over global nanotechnology sales figures. This segment is predicted to shrink to under 75% by the end of 2008 but nanotools will have increased to 4.3% or $1.2-billion in sales. Nanodevices will have established a presence by the end of 2008 with a 21% market share worth $6-billion. Nanotubes and nanocomposites are the fastest-growing segments as of mid-2007. These numbers are substantially below many other estimates considered by many to be over-exaggerated.
While there are no readily available estimates apparent, nanotechnology-enabled drug delivery systems which many believe will reshape the way existing drugs are delivered is also expected to change the way new compounds are formulated and to make existing compounds last considerably longer. While this segment now has just 4% of its market, that share is expected to increase to more than 15% by 2012.
One reason that earlier market projections were so much larger than what actually occurred is considered to be the result of anticipated technology advances that have either failed, been modified and continue in R&D, or just didn't meet sales expectations. It is important to remember that nanotechnology, in general, is still an unstable, emerging marketplace where much research is still being done and also where anticipated product availabilities have not yet come to fruition.
In the long run, nobody doubts for a second that nanotechnology will succeed in making untold new contributions in many fields. This is a foregone conclusion. However, attempts to nail down dollar figures and percentage increases seem to be lagging for the time being. However, government funding continues to increase and major companies in fields like cosmetics, electronics, computers and medicine are annually increasing their corporate funding for nanotechnology research & development activities.
The latest study that appears reasonable estimates that the worldwide demand for nanoscale materials, devices and tools was $7.6 billion in 2003 and was expected to reach more than $28-billion by the end of 2008. The market is estimated to be growing at a pace more than double that of the biotechnology and global informatics markets.
The nanomaterials segment of the nanotechnology market that includes well-established product area such as carbon black rubber filler, catalytic converter materials and silver nanoparticles that are applied to photographic papers and films, currently accounts for 97.5% over global nanotechnology sales figures. This segment is predicted to shrink to under 75% by the end of 2008 but nanotools will have increased to 4.3% or $1.2-billion in sales. Nanodevices will have established a presence by the end of 2008 with a 21% market share worth $6-billion. Nanotubes and nanocomposites are the fastest-growing segments as of mid-2007. These numbers are substantially below many other estimates considered by many to be over-exaggerated.
While there are no readily available estimates apparent, nanotechnology-enabled drug delivery systems which many believe will reshape the way existing drugs are delivered is also expected to change the way new compounds are formulated and to make existing compounds last considerably longer. While this segment now has just 4% of its market, that share is expected to increase to more than 15% by 2012.
One reason that earlier market projections were so much larger than what actually occurred is considered to be the result of anticipated technology advances that have either failed, been modified and continue in R&D, or just didn't meet sales expectations. It is important to remember that nanotechnology, in general, is still an unstable, emerging marketplace where much research is still being done and also where anticipated product availabilities have not yet come to fruition.
In the long run, nobody doubts for a second that nanotechnology will succeed in making untold new contributions in many fields. This is a foregone conclusion. However, attempts to nail down dollar figures and percentage increases seem to be lagging for the time being. However, government funding continues to increase and major companies in fields like cosmetics, electronics, computers and medicine are annually increasing their corporate funding for nanotechnology research & development activities.
