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Introduction to Nanotechnology & MEMS, Business and Industry Trends Analysis

Nanotechnology is a relatively new materials science that is slowly beginning to revolutionize many sectors of manufacturing.  The long term outlook is exceptionally promising.  Only a small number of consumers or business executives realize the extent to which nanotech is going to change the materials they use every day.  As of 2017, so much progress has been made in nanotech research and development that commercialization is accelerating broadly.  One factor boosting the adoption of nanotechnology is an increase in the manufacture and availability of carbon nanotubes, a basic nanomaterial that can be used in a wide variety of manufactured goods.  These nanotubes have been shown to have highly valuable qualities, including incredible strength, extremely light weight and high conductivity of electricity.  As nanotube supplies increase and costs drop, use will increase significantly.  (Prices have fallen from hundreds of dollars per gram in the late 1990s to only a few dollars per gram today—depending on the exact specifications of the nanotube.)

Investment in nanotechnology research and the market for nanotech products have expanded steadily.  The U.S. government alone proposed $1.443 billion in nanotech research grants and projects for fiscal 2017.  This was up significantly from only $0.464 billion in 2001.  This budget aids the industry primarily through grants made via the Department of Health and Human Services, the National Science Foundation, the Department of Energy and the Department of Defense.  However, many other agencies receive research funding through this budget, including Homeland Security, Agriculture, NASA, the Department of Commerce and the Environmental Protection Agency.  This diversity of research interests is an excellent indicator of the fact that nanotech will eventually permeate virtually every segment of business, industry, transportation, food production and our daily lives.

 


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