Global and Russian Nanotechnology Products Market Development: Comparison of Trends and Impact of Sanctions

Abstract

The slowdown of Russian economy resulted from world oil price fall, sanctions introducing and ruble weakening necessitates the estimation of nanotechnology industry potential in providing economic growth. The paper is focused on comparative study of current development and trends of global and Russian nanotechnology product market with paying attention to their structural features and special properties of existing nanotechnology product database. The study contributes to the assessing of the impact of sanctions imposition on Russian innovation system and perspectives of national nanotechnology industry, considering the more and the less expected results of the import substitution policy implementation. The generalised conclusion of Russian nanotechnology industry positive but unstable dynamics has been done based on the data of growing value of product sales and exports in 2014-2015, while the rates of growth have slowed down. Existing negative political and economic situation has been estimated as a catalyst for expanding domestic market for nanotechnology products.