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June 6, 2008-- According to a new technical market research report, Nanotechnology: A Realtistic Market Assessment from BCC Research (www.bccresearch.com), the global market for nanotechnology was worth $11.6 billion in 2007. This is expected to increase to $12.7 billion in 2008 and $27.0 billion by the end of 2013, a compound annual growth rate (CAGR) of $16.3%.
The market is broken down into applications of nanomaterials, nanotools and nanodevices. Of these, nanomaterials dominated in 2007, accounting for 87% of the market. Worth an estimated $10.8 billion in 2008, this segment should reach $18.7 billion in 2013, for a CAGR of 11.7%.
Nanotools accounted for 12.8% of the market in 2007. Worth an estimated $1.9 billion in 2008, the segment will reach almost $8.0 billion by the end of 2013, for a CAGR of 33.3%. Nanotools, which include the nanolithographic tools used to produce the next generation of semiconductors, are projected to grow at a much faster rate than nanomaterials. As a result, their market shares should increase to 29.4% in 2013, while nanomaterials' share will fall to 69.2% of the total market.
The nanodevices segment will enjoy a CAGR of 69.5% between 2008 and 2013. It is expected to increase from a $26.2 million segment in 2008 to $366.2 million by the end of 2013.
The largest end-user markets for nanotechnology in 2007 were environmental remediation (56% of the total market), electronics (20.8%) and energy (14.1%). Electronics, biomedical and consumer applications have much higher projected growth rates than other applications over the next 5 years (i.e., 30.3%, 56.2% and 45.9%, respectively.) In contrast, energy applications are projected to grow at a CAGR of only 12.6% and environmental applications should actually decline by an average of 1.5% per year.
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Global Nanotechnology Market
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