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Study Says The Future Of Manufacturing Is In Nanotechnology

Nanotechnology could be the key to manufacturing's future, according to a recently released study by UMass Lowell.

Nanotechnology needs to reach the commercial manufacturing level to ensure success, according to a recently released study.

The study, conducted by UMass Lowell found that 25 percent of the 407 respondents expect sales of $10 million or greater next year, and an overall increase to 56 percent in the next three years. Most companies are already marketing nano products to their customers.

“Nanotechnology leaders are showing both the optimism and uncertainty of pioneers,” said Barry Hock, Associate Director of UMass Lowell’s Center for Economic and Civic Opinion, which conducted the national benchmark study.

About 60 percent said they have the infrastructure, capital and workforce they currently need for their companies to commercialize their nano-enhanced products, citing high-volume manufacturing as the most critical R&D need.

The study also revealed safety concerns, finding nearly two-thirds said that the risks to the public, environment and workforce are not yet known.

Thirty-nine percent of respondents said if the United States were to strengthen its R&D capability in nanotechnology, high-volume manufacture of nanotech materials and products would be most important.

The entire report can be reviewed by clicking here.