ABSTRACT
As a result of the recent world industrial and technological revolution, scientists have reassessed the relationship between socioeconomic development and environmental ethics. It has long been acknowledged that adapting to the sustainable use of natural resources is critical for the survival of the future generations of human society. Nanotechnology is one of the most prominent emerging technologies and it has revolutionized all fields of medicine, agriculture, environmental science, etc., by offering abilities that have never been imagined. Nanotechnology has ushered the world materials and devices that are already used in a multitude of platforms. One of the most intriguing features of nanotechnology is its incredible scope of real and potential applications for fostering long-term economic growth. As a result, the propagation effect of nanotechnology is immense and the commercial opportunities it creates are both numerous and diverse. A broad alliance of industry leaders, scientists, and politicians has recognized nanotechnology as a pivotal technology for the 21st century that will lead to economic growth and sustainable development. In recent years, nanotechnology has significantly contributed to benefiting society and transforming the nature of modern life, and at the same time boosting economic growth as well as improving the capacity and quality in industrial sectors. This chapter focuses on the economic impacts of nanotechnology by using market volumes as an accurate measure of its economic importance.
