Demand for nano technology will cross $28 billion by 2008
The report "The World Nanotechnology Market (2006)" provides an updated and detailed overview of the Nanotechnology market worldwide.
It examines the emerging trends in the industry and provides exclusive forecasts product wise and application wise. It includes the snapshots of different players in the industry, the R&D spending in various countries and studies the patents in this technology.
- Worldwide more than $9.5 billion was spent on Nanotechnology research and development in 2005, which showed a considerable rise as compared to 2004. Out of the total R&D expenditure, major contributions were done from various governments and corporate who together contributed nearly $9 billion. Rest of the R&D spending was from venture capital firms.
- By 2008, the total global demand for nanoscale materials, devices and tools will cross $28 billion.
- The U.S. Nanotechnology market is predicted to reach $3.3 billion by 2008 and cross $19.8 billion by 2013 showing a strong growth.
- The market for textiles using Nanotechnologies will cross US $13 billion mark by 2007. By 2012, the market is expected to reach US $115.2 billion.
- United States has the largest share of global investment in Nanotechnology. The US market had a share of 27% in 2005. Followed by Japanese market with more than 24% of share. The Western European market also had a quarter of the market share with major investment in countries like Germany, UK and France. Other countries like China, Russia, South Korea, Canada and Australia hold the rest of the share.
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