Small is beautiful, says the old adage. In the world of nanotechnology, small can also be powerful, game-changing, and capable of creating new types of materials with properties that have never been possible before.
According to the Nanotechnology Market Outlook 2020, the most important achievements to be reached by the nanotechnology world market in the next few years are the following: the replacement of traditional materials by nanomaterials with enhanced properties; to ensure a massive, cost-efficiency and continuous production of nanomaterials; and increase the funding designated to R&D.
These factors have already contributed to a positive effect in the market of the nanomaterials resulting in noticeable growth of the key indicators. According to different consultancy firms such as Allied Market Research or Deloitte Touche Tohmatsu Limited, the global nanomaterials market was valued at about USD 4-14 billion in 2016 and expected to reach USD 10-45 billion in 2020.
The challenge for the global nanotech market is to supply enough product for the increasing demand which is potentially around 100 Tons per year. To achieve such purpose, it is necessary the scaling up and implementation of a development path for nanotechnology that goes from the research laboratory, through pilot processing and development, into mass production and commercialization.
Some successful cases of industrial production have been noticed, for instance Samsung and Toshiba in the electronics sector, and Gnanomat is moving forward to become a supplier of graphene-based nanomaterials in the energy storage market.