Nanotechnology

Materials at nanoscale are poised at the borderline between the microscopic scale, which is dominated by forces and effects we are familiar with, such as gravity, surface tension, and static electricity, and the atomic scale, which is dominated by quantum forces and effects that are very different. As a result, materials at nanoscale have unique properties. Investigation and exploitation of these properties will create countless opportunities for research and development work by scientists, engineers, and technicians. Many life processes take place at this scale, such as the interactions of energy and matter involved in photosynthesis and muscle movement or the chemical processes involved in fermentation, lactation, and bone growth. The expectation is that nanotechnology will enable some of these life processes to be replicated on an industrial scale and will also facilitate molecular-level interventions in living organisms for medical and agricultural purposes.

Overall, the global nanotechnology market is expected to continue growing. Revenue was expected to grow from $68 billion in 2023 to $183.7 billion by 2028, according to a January 2024 report from BCC Research. This is a compound annual growth rate of 22 percent from 2023 through 2028. BCC Research says that the "growth of the nanotechnology market is propelled by several key factors, including increased investments by public and private entities, the expanding application of nanotechnology in flexible and stretchable electronics, advancements in nanotechnology within the healthcare sector, and a growing exploration of nanotechnology in aerospace and defense industries." By 2028, the healthcare and pharmaceuticals sector will be the leader in the nanotechnology industry. "Nanotechnology has brought about transformative changes in various facets of the healthcare and pharmaceutical industry, progressing disease monitoring, diagnostics, regenerative medicine, vaccine development, surgical devices, and drug delivery methods," according to BCC Research.

The application of nanofibers in various environmental and production processes will continue to gain momentum in the global market. These applications include water and wastewater treatment, chemical processing, environmental remediation, oil and energy, food and beverage production, and life science. Nanotechnology growth will be especially strong in the plastic industry. As a BCC Research report described it, "the use of nanofibers as reinforcing agents for polymeric compounds is increasing at a very healthy pace, driven by the demand for new materials that are flexible and, at the same time, lightweight and strong." The life-science sector is also showing increased interest in nanotechnology. Here, there has been "growing interest in the development of three-dimensional biocompatible materials that act as supporting structures to promote the growth of new cells and the engineering of tissue."

Besides market growth, another indicator is growth of investments. In the U.S., the Biden Administration's 2024 budget requested a record $2.16 billion for the National Nanotechnology Initiative (NNI). This is a continued investment in basic research, early-stage applied research, and technology transfer efforts that will lead to breakthroughs in the future. This brings the total investment in NNI, since its establishment in 2001, to more than $43 billion. As NNI describes it, "this highest-ever request reflects the United States’ global leadership in the fundamental understanding and control of matter at the nanoscale."

The future role of nanotechnology in foods is unclear. The European Union requires that food products containing nanoparticles be registered as such, and the Food and Drug Administration issued nanotechnology product guidelines for food and cosmetic companies in 2014. The FDA Nanotechnology Task Force, which was formed in 2006, continues to regulate products that use nanotechnology materials while encouraging development and innovation in the field. Nanotechnology will continue to impact the food industry in a variety of ways, from how food is grown and produced to how it is packaged, transported, and consumed.

Employment opportunities in nanotechnology will vary depending on the type of work. The U.S. Department of Labor (DOL) does not provide an employment outlook for nanotechnology engineers, but it does predict the following employment growth (all much faster than the average) from 2023 to 2033 for engineers who conduct research and development in the physical, engineering, and life sciences.

• electrical and electronics engineers: +13.1 percent
• aerospace engineers: +11.1 percent
• bioengineers and biomedical engineers: +11.1 percent
• chemical engineers: +11.1 percent
• environmental engineers: +11.1 percent
• materials engineers: +11.1 percent

Nanotechnology engineers will continue to be needed to conduct research and write proposals to secure funding or partnerships with other companies for nanotechnology-related projects. They will also be needed to provide guidance and supervision to scientists, technologists, and other workers involved in nanotechnology research of production.

Much-faster-than-average job growth through 2023 is expected for the following workers who conduct research and development in the physical, engineering, and life sciences: biochemists and biophysicists, chemists and materials scientists, aerospace engineering and operations technologists and technicians, and electrical and electronic engineering technologists and technicians. Job opportunities for environmental engineering technologists and technicians are expected to grow faster than the average.

Many nanotechnology professionals earn much higher salaries than the average for workers in all careers ($63,098, according to the DOL). For example, nanotechnology engineers earned average salaries of $95,023 in 2024, according to ZipRecruiter.com. Nanoscientists received average salaries of $155,559 in 2024, according to GlassDoor.com. On the other hand, ZipRecruiter.com reports that nanotechnology engineering technicians earned $43,661. Nanotechnology professionals with advanced education, considerable experience, and certification typically earn the highest salaries.