Nanotech market to reach $28.7 billion by 2008

Filed in archive Business on July 16, 2006

Nanotechbuzz got the scoop on the soon-to-be released report from Business Communications Company, Inc., "RGB-290 Nanotechnology: A Realistic Market Evaluation." Highlights:

The total global demand for nanoscale materials, tools, and devices was estimated at $7.6 billion in 2003.

Demand is expected to grow at an average annual growth rate of 30.6% to reach $28.7 billion in 2008.

It is believed that nanotechnology is growing twice as fast as other emerging technologies.

Global consumption of nanocomposites was $252 million in 2005, growing to $288 million by the end of 2006 and, an average annual growth rate of 24.4%, $857 million by 2011.