Noida, UP -- (SBWire) -- 10/21/2014 --Nanotechnology is a rising interdisciplinary technology often perceived as new industrial revolution. It is gradually attracting worldwide attention owing to its varied range of end users. The nanotechnology market has been observing substantial growth with the development of all new application areas and inclining research and development funding from government and private sector. The global nanotechnology market was estimated to be US$ 24.1 Billion in 2013 which is projected to grow at a CAGR of 16.5% over the period 2014-2020, with the revenue reaching to US$ 71.2 Billion in 2020 as per RNCOS analysis.
Highlighting, the huge potential Shushmul Maheshwari, CEO - RNCOS said, “Growth of this industry is majorly attributed to its rising demand from textiles, electronics, energy, cosmetics, biomedical and defense segments”. He further highlighted, “the relevance of nanotechnology in biomedical sciences represents various revolutionary opportunities to deal with complicated diseases”.
Our analysis suggests that like various other industries, the textile industry has also been influenced by nanotechnology. Currently, various researches are going on in textile industry to enhance performance of textile materials by utilizing nanotechnology. Other than this, due to rising demand of consumers for specialized and effective products in cosmetics, the demand for nanoparticles by cosmetic manufacturers has showcased an upward trend and is expected to be high in future. Apart from this, global energy demand is continuously expanding and is anticipated to incline further in future. Thus, application of nanotechnology in energy sector is a significant topic in several scientific researches. This will entail the market for nanotechnology in the world in coming few years.
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About RNCOS
RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer in syndicate market research, our vision is to be a global leader in the industry research space by providing research reports and actionable insights to companies across a range of industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive industry research studies, bespoke research and consultancy services to Fortune 1000, Trade associations, and Government agencies worldwide.
RNCOS White Paper: Global Nanotechnology Market
“The Global Nanotechnology Market to reach US$ 71.2 Billion by 2020- says RNCOS”.