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Article

Title: Nanotech: The Next American Revolution?

Author: Kenney, Brad Article Type: Product Analysis
Source: Industry Week, v256 n10 p30(5) Publication Date: Oct 2007
  ISSN: 0039-0895
URL of Publication: http://www.industryweek.com

The U.S. enjoys several advantages over other countries such as Russia, which aspires to become a major player in the nanotechnology industry. In Russia, a total of $7 billion was pledged by the parliament to a state-owned nanotechnology company. Products and services using nanotechnology are expected to reach $2.6 trillion by 2015, based on estimates by analyst firm Lux Research. For nanotech developers, including CEO Scott Rickert of Nanofilm, the U.S. is way ahead in the competition because it enjoys huge commercial advantages. Nanofilm develops surface care products using nanotechnology. This is because nanotechnology companies provide the best purity and quality control in spite of the attention regulatory agencies accord to the industry. Nanotechnology also serves as a cheaper alternative to introduce new products or enhance existing products on the market. Pharmaceutical companies are depending on nanotech to provide value in light of the impending expiration of their patents involving $16 billion of market share for 2007 alone as well as 60 percent of the so-called 'blockbuster patents' that would expire by the end of 2010. Nano-engineered formulations help pharmaceutical companies secure an extension of their patents. In this way, patients who depend on these drugs gain significantly. The U.S. also has the pool of private companies that can take advancements in nanotechnology into the commercial market, according to CEO Pankaj Dhingra of Redwood City, California-based Nanostellar, which produces nano-engineered catalyst materials. Ecology Coatings of Akron, Ohio, also introduced value-added benefits to its proprietary formulations by integrating nanomaterials.

Companies:
Ecology Coatings Inc Nanofilm
Nanostellar Inc

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