The diversity of nanotechnology is far outreaching than other technologies. Nanotechnology is an enabling technology that presents new ways of manufacturing products, overwhelming the available methods in any conceivable technology discipline. Although the recent worldwide economic recession caused significant deceleration in growth momentum, the world market for nanotechnology-enabled products has successfully ridden the worst-ever downturn without recording hurting erosions in market value. This positive trend for the nanotechnology market can be primarily attributed to the demand for these products in Defense and Pharma & Healthcare segments, which displayed greater resilience to the economic turmoil than most of the other end-use markets. Government support for nanotechnology has been the primary motivating factor for the industry in the last few years. Following the resurgence in growth fundamentals such as improvement of business scenario in key markets such as semiconductors, electronics, chemicals, automotives, among others, and increase in government and private sector funding on R&D, the global nanotechnology market is recovering poise and is projected to witness robust growth in demand in the next few years.
To read the full, original article click on this link: Global Nanotechnology Market to Reach US$30.4 Billion by 2015, According to New Report by Global Industry Analysts, Inc.
