ICSTI Statement on Nanotechnology - Forfás

According to Deutsch Bank, however, the market for
nanomaterials alone was $0.12 trillion in 2002, with this market
growing at an annual rate of 15% to $0.37 trillion by 2010. A
similar estimate for the size of the nanotools market is not
currently available.
On this basis it is clear that the markets for nanotools and
nanomaterials that can be addressed by new or established
indigenous or Irish-based multinational companies are large and
growing.
It is also clear that the markets for products and processes, by
nanotools or nanomaterials, which can be addressed by new or
established indigenous and Irish-based multinational companies,
are very large and growing.
For example a recent analysis of the medical devices market, by
the Department of Trade and Industry in the United Kingdom, has
concluded that at present 1% of all medical devices are
nanotechnology-enabled. It has also estimated that this
percentage will double every two years for the foreseeable future.
On this basis, the estimates of the Task Force are that the values
of nanotechnology-enabled products exported by the medical
devices sector in Ireland will grow to €0.6 billion by 2010 in
today’s terms. It is similarly estimated that the value of
nanotechnology-enabled products exported by the pharmaceutical
sector will exceed €6.1 billion by 2010 also in today’s terms. An
analysis of the electronics and photonics sectors suggests that
€4.5 billion of all exports in 2010 will be nanotechnologyenabled.
A consensus estimate (reached by the Taskforce) is that the value
of nanotechnology-enabled products and processes exported by
indigenous companies and multinational companies based in
Ireland, will exceed €13 billion by 2010 and correspond to more
than 10% of the value of all exports in today’s terms.
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