While there’s been plenty of focus on apps and cloud computing in the technology space, advances are also being made in hardware-focused sectors such as nanotechnology. Nanotechnology uses include everything from more efficient drug delivery systems to tiny transistors that allow for smaller and more powerful computer chips.
To be sure, the markets for nanotechnology products and nanotechnology uses are set to grow in the coming years. A report released this past December from Research and Markets states that nanotechnology “is a rapidly growing technology” and the global industry has been forecast to grow annually by 17 percent up to 2024.
Similarly, BCC Research has said that the global nanotechnology market was valued at $39.2 billion in 2016 and should grow at a CAGR of 18.2 percent, in order that the market will reach a believed $90.5 billion by 2021.
Still, for investors just starting to look at nanotechnology stocks, it can be difficult to know where to to begin, as nanotechnology uses are so varied. As a starting point, here’s an overview of six of the top areas in which nanotechnology uses are making a big difference today.
Materials and coatings
Perhaps the first thing that comes to mind when one thinks of nanotechnology is advancements in various types of materials and protective coatings. From fabrics and sporting gear to eyeglasses and computer and camera displays, there are plenty of possibilities for nanotechnology uses.
How does nanotechnology help make materials better? As the National Nanotechnology Initiative explains, “materials can effectively be made to be stronger, lighter, more durable, more reactive, more sieve-like, or better electrical conductors, among many other traits” using nanotechnology. Nanotechnology can also improve the coverage or absorption of cosmetics, and can make fabrics resistant to wrinkling and bacterial growth.