Singapore’s A*STAR (Agency for Science, Technology & Research) division SIMTech has officially launched an initiative to explore industrial applications for nanotechnology and new market opportunities, as well as its adoption in manufacturing.

A*STAR says the world nanotechnology market may be worth US$2.4 trillion by 2015 (it’s anywhere between $15.7 billion and $1 trillion currently) as new advances are made. 13 companies are already participating in the initiative, including 3M, CEL Coatings; Gaia Science; Haruna and K-Solar 3G Technologies. A*STAR’s program will raise awareness and advance the skill sets of the Singaporean nanotechnology industry, which comes with sophisticated instruments and heightened safety/environmental regulations. It’s also hoped that collaboration between government, research institutions and industry will reduce R&D costs and allow industry to explore more diverse and higher-level applications.

SIMTech says developments and research in nanotechnology already includes:

machining, joining, forming, and surface functionalities, as well as characterisation. Some examples are laser fabrication and nanobump arrays, lead-free nanofillers solder composite, powder injection moulding with nano-size fillers, superhard nanocomposite Physical Vapour Deposition coating and photocatalytic Titanium Dioxide nanoparticles coating.

IE Singapore, Singapore Economic Development Board and SPRING Singapore are also backing the Nanotechnology in Manufacturing Initiative (NiMI).

press release and article: A*STAR and Channel NewsAsia