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Posted: January 3, 2008
Advances in the Commercialization of Nanotechnology Create New Business Opportunities
(Nanowerk News) Although commercialization of nanotechnology is presently in its infancy, the new market research report reveals that the commercialization of new nanomaterials will open up new doors to possible opportunities for new business. Whatever the eventual outcome, the new report states, there is no doubt that a healthy and conducive R&D environment is essential prelude for nanomaterials development over the next five years.
From a public funding perspective, it is critical to understand the challenges of nanotechnology commercialization. Large amounts of public money are being used to support nanotechnology research and development. The report points out that, as the technology is commercialized, this funding will generate a return on the investment in the form of direct economic growth, and indirect social benefits.
According to the report, nano funding of Japan is estimated $5.2billion - the highest among all. That of United States has also increased from US$ 1.05 billion in 2006 to 1.3 billion in 2007. This increase is expected to continue up to 1.44 billion in 2008. While Japan is overtaking the United States in terms of government funding, Europe will actually have a larger yearly spend in nanotechnology than USA or Japan, for The EU Seventh Framework Program contributing approximately Euro 600million per year until 2013.
As with any new technology, there are certain commercial parameters to consider, which will likely hinder the widespread integration of nanotechnology into products and processes. Whilst large-scale enterprises are mainly interested in system solutions with higher sales expectancy, smaller and medium-sized organizations pay more attention to technological creation, analyses and tools. In Germany, most technology orientated companies are taking a long-term approach in addressing key elements for future innovation. Nanotechnology is viewed as a component within an overall end-product value chain, providing building blocks upon which end-user products can be developed.
Currently, competitive rivalry is high in the nanomaterials sector. Companies are in the middle of a research and development race to develop and release new proprietary products for specific applications. The report states that only the first to market will gain the competitive advantage to embrace the potential of nanotechnology, and this is the market focus at present. As the nanotechnology market matures, the competitive rivalry will move from R&D to commercialization, meaning that companies will start striving for return on investment, market development and market share.
Key Nanotechnologies, such as nanoparticles, nanowires, nanocoatings, and nanofibers are also examined in the report, in order to present a clear picture of the scale of opportunity in nanotechnology across a wide range of materials and markets.
Details of the new report can be found on Electronics.ca Publications' website: http://www.electronics.ca/