Nanomaterials have established an appreciable market presence, $1 billion, mainly in the United States, Western Europe, and Japan. By 2011, world demand for nanomaterials is forecast to reach $4.2 billion, according to a new study, World Nanomaterials, just released from The Freedonia Group Inc., a Cleveland-based industry market research firm.
In the longer term, the global market is projected to swell to $100 billion in 2025. By then, use of nanomaterials will have expanded beyond their initial outlets, such as wafer polishing slurries used in semiconductor manufacturing, high performance super-strong plastic composites, transparent sunscreens and other personal care products, self-cleaning glass, and high-end sports equipment.
The nanomaterials making the greatest initial commercial impact are the less exotic but more widely used nanoscale oxides and metals. Silica, titanium dioxide, alumina, iron oxide, zinc oxide and other nanoscale versions of conventional materials are now finding use in cosmetics, paint, construction materials, and electronic equipment. Eventually, these materials will also be widely used in such applications as drug-delivery systems, creating opportunities for safer and more effective dosages of medication to treat cancer and other diseases. In the next decade or two, some of the relatively novel nanomaterials, such as nanotubes and dendrimers, will account for a larger share of overall nanomaterial usage.[email protected]