Nanotechnology: A New Technological Revolution in the 21st Century

Abstract

Nanotechnology is going to be a major driving force behind the impending technological revolution in the 21st century. Both private and public sector spendings are constantly increasing. The size of the market for nanotechnology products is already comparable to the biotechnology sector, while the expected growth rates over the next few years are far higher. Nanotechnology manufacturing is a fundamentally new process in which structures are built from the bottom up, one atom at a time. Nanotechnology has the potential of producing new materials and products that may revolutionize all areas of life. Nanotechnology protagonists believe that nanotechnology will provide unsurpassed benefits for the society. Meanwhile, its antagonists believe that nanotechnology may pose serious health and environmental risks and advocate that the precautionary principle should govern the development and deployment of such products. Although it is difficult to predict precisely how nanotechnology will impact society, current understanding, under either the spectacular benefit or the serious risk scenarios, presages a huge impact on society in areas that include the environment, healthcare, energy, and electronics.