Research from UK consulting firm Cientifica Ltd. indicates that the market for nanotechnology-enabled products will reach $1.5 trillion in 2015, if you don't count semiconductors and electronics, two industries the firm says should be treated with caution.
About 80% of the 2015 market will relate to nanotechnology applications in the pharmaceuticals and health care industries.
Bear in mind that the market size does not represent the value of the nanotechnologies in the products, but the total value of the products. That means, for example, a dime's worth of nanomaterials may be included in a drug that costs $100.
Bio: Jill Jusko is executive editor for IndustryWeek. She has been writing about manufacturing operations leadership for more than 20 years. Her coverage spotlights companies that are in pursuit of world-class results in quality, productivity, cost and other benchmarks by implementing the latest continuous improvement and lean/Six-Sigma strategies. Jill also coordinatesIndustryWeek’s Best Plants Awards Program, which annually salutes the leading manufacturing facilities in North America.
