Chapter 12: Economics and the Commercialization of Anticorrosive Nanomaterials

Corrosion and the economy are related to the longevity of engineering materials depending upon the corrosion experienced by them in industrial media. Industries, consequently, spend billions of dollars annually due to corrosion related issues. There are ways to mitigate corrosion. Selection of anticorrosion materials is an option with ‘nanomaterials’ being an upcoming alternative. This chapter discusses the synthesis of nanomaterials and their utility vis-à-vis conventional materials. The data shows an increase in the number of research publications, between 1998–2016 and the evolution of nanotechnology during 1970–2020. On the basis of data on marketing and commercialization, ‘compound annual growth rate’ CAGR of nanomaterials and nano-coating, has been compared for the duration of 2017–2024. With an increase in the production capacity of nanomaterials, the prices of nanomaterials are expected to fall leading to further enhancement in their usage.