The Benefits Of Nanotechnology

Nanotechnology has many definitions. It is the “understanding and control of matter at dimensions of roughly one to one hundred nanometers, where unique phenomena enable novel applications,” according to the National Nanotechnology Initiative (NNI). The U.S. Environmental Protection Agency (EPA) defines nanotechnology as “research and technology development at the atomic, molecular, or macromolecular levels using a length scale of approximately one to one hundred nanometers in any dimension; the creation and use of structures, devices and systems that have novel properties and functions because of their small size; and the ability to control or manipulate matter on an atomic scale. Scientists have been studying and working with nanoparticles

Because nanotechnology is essentially a set of techniques that allow manipulation of properties at a very small scale, it can have many applications in all parts of life. Nanotechnology is viewed broadly as many technologies over time are expected to generate numerous new products and applications. Lux Research, Inc., the New York-based nanotechnology research and advocacy firm, predicts that by 2015 products that incorporate nanotechnology will constitute 15 percent of global manufacturing output and will total $3 trillion. Products of nanotechnology are diverse and growing exponentially. According to the NNI, nanoparticles and nanoscale materials are used in many industries, including electronics, pharmaceuticals, chemicals, energy, and biomedical, among others. Reportedly, areas producing the greatest revenue for nanoparticles are chemical-mechanical polishing, magnetic recording tapes, sunscreens, automotive catalyst supports, biolabeling, and electroconductive coatings and optical fibers. According to the survey, there are many nano-enabled products in market today. These products include paints, cosmetics, stain-resistant clothing, electronics, surface coatings, and sporting goods, among other

S., and Shubhrajyotsna Aithal. "Ideal Technology Concept & its Realization Opportunity using Nanotechnology." International Journal of Application or Innovation in Engineering & Management (IJAIEM) 4, no. 2 (2015): 153-164.

The paper covers the possible expected business opportunities due to new nanotechnology products and services in above areas with an expected time scale and future possibilities of nanotechnology innovations and the magic (like science fictions) going to happen in human life. The paper also covers how nanotechnology is a disruptive innovation going to solve all present major problems due to increased population in the society like food, energy, drinking water, health and environment.

II. CHALLENGES FOR HUMAN PROSPERITY

The emerging nanotechnology is expected to solve both basic needs and comfort needs of human beings. The basic needs of human being are food, drinking water, energy, cloth, shelter, health and environment and the comfort needs are realizing the automation in every field, space travel and expanded life-span and so on. Nanotechnology is sometimes referred to as a general-purpose technology. That's because in its advanced form it will have significant impact on almost all industries and all areas of society. It will offer better built, longer lasting, cleaner, safer, and smarter products for the home, for communications, for medicine, for transportation, for agriculture, and for industry in general