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Nanotechnology: A New Industrial Revolution? (Areadevelopment.com)

January 3, 2010 by  
Filed under Articles and Features

areadevWhether they’re aware of it or not, many industries are in the midst of a nanotechnology boom. From the medical industry and renewable energy to plastic products and electronics, nanotechnology is improving a wide array of consumer goods and promises to usher in the next wave of industrial production. According to the research and advisory firm Lux Research, the global market for goods based on nanotechnology is expected to grow from $147 billion now to $3.1 trillion in 2015. All across the United States, nanotech is growing strong with the help of universities, startups, and local government.

Small But Growing Industries

Nanotechnology spans a wide array of industries and is often defined by different measures. One of the most commonly used definitions is that of the National Nanotechnology Initiative, which defines it as the understanding, control, and manipulation of matter at dimensions between 1 and 100 nanometers — keep in mind that one inch equals 25,400,000 nanometers. Nanotechnology has allowed the transformation of aerospace, agriculture, biotech, national defense, energy, medicine, and transportation, and it is currently being used in everything from batteries and solar panels to eyeglasses, baseball bats, tennis rackets and cameras. By altering the states of the elements and materials, nanotechnology can help make products stronger, lighter, and more durable.

Read the full article at Area Development Magazine.

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