Economic analysis and environmental aspects of metal oxide materials

Abstract

Systematic, scientific and strong technological support is very important for better long-term economic development. With the passage of time, economics, with its progress, has clearly understood how new technologies advance the transformation of societies and generates a continuous flow of wealth and progress. Gradually, nanotechnology and the economic system recognized this important need for further technological developments. The idea of how technology increases economic growth has been comprehensively explored now-a-days. Nanotechnology has evolved as a miracle science for the development of various materials at the nanoscale in the 21st century at industrial and commercial levels, which has benefited and increased economic development in various fields over the last five decades. New techniques and technologies are being continuously developed and invented for numerous applications in various fields. In the past, metal oxide nanoparticles have been used as colloids and powders. However, over the last 20 years, tremendous growth has been seen in the technological exploitation and applications of metal oxide nanoparticles as evidenced in many patent applications in the field. Metal oxides are one of the promising nanomaterials for environmental applications for different environmental challenges existing presently. This chapter presents a few different metal oxide materials, their basic characteristics and their different applications in various fields. Where traditional materials are usually not available, an efficient nanomaterial is presented for the creation of new products. The enabling aspect is the most interesting from a financial standpoint. When it comes to operating profits, production volume does not always equate to economic value. Profit margins in cosmetics, pharmaceuticals and medical applications are much higher than in industrial applications. Metal oxides are used for removing harmful toxic chemicals from polluted water and wastewater from industries, removing heavy metals, decarbonization, recent applications of metal oxide materials in different fields, metal oxide use in semiconductors, metal oxides for energy conversion, solving energy crises, metal oxides for energy storage, metal oxides for water clean-up technologies and metal oxides for health and safety considerations.