Estimates for the Value of the Nanotechnology Global Market

The US National Science Foundation predicts that the global market for nanotech-based products will exceed US$1 trillion within 15 years. Paul Miller, senior researcher at the British policy research organisation Demos, said in 2002 that "already, roughly one-third of the research budgets of the biggest science-based firms in the US is going into nanotech" whilst the US National Nanotechnology Initiative's budget rose from US$116 million in 1997 to a requested US$849 million in 2004.