The total global demand for nanoscale materials, tools, and devices was estimated at $7.6 billion in 2003 and is expected to grow at an average annual growth rate (AAGR) of 30.6% to reach $28.7 billion in 2008, according to a report from from Business Communications Company: Nanotechnology: A Realistic Market Evaluation.

The nanotechnology market is believed to be growing more than twice as fast as either the biotechnology or global informatics sectors.

The nanomaterials segment, which includes several long-established markets such as carbon black rubber filler, catalytic converter materials and silver nanoparticles used in photographic films and papers, presently accounts for over 97.5% of global nanotechnology sales. By 2008, the nanomaterials share of the market will have shrunk to 74.7% of total sales. Nanotools will have increased their share to 4.3% ($1.2 billion), and nanodevices will have established a major presence in the market with a 21% share ($6.0 billion).