Economic Impacts of Nanotechnology in Decarbonization for Emerging Economies

Abstract

Decarbonization has thus emerged as one of the most pressing challenges of the twenty-first century, demanding immediate global action supported by adaptive and dynamic policy frameworks. Nanostructured materials such as nanocomposites, functionalized nanomaterials, metal-organic frameworks (MOFs), and nanocatalysts offer significant potential for enhancing energy efficiency and facilitating the transition to low-carbon systems. The global transition toward a decarbonised economy is imperative for mitigating climate change and achieving sustainable development goals. This review critically evaluates the transformative role of nanotechnology in decarbonization, with emphasis on its applications in carbon capture, renewable energy generation, and advanced energy storage systems. By leveraging the unique properties of nanomaterials, these technologies can significantly enhance energy efficiency, lower operational costs, and facilitate decentralised energy solutions. Such advancements not only accelerate the deployment of low-carbon technologies but also create opportunities for green industrialisation, investment, and inclusive economic growth in emerging economies. Beyond technical innovation, the review assesses the broader economic implications of nanotechnology, including job creation, market competitiveness, and expansion of energy access in underserved regions. It further identifies persistent challenges such as financial and regulatory barriers, technology transfer limitations, and institutional capacity constraints that may hinder large-scale adoption. The analysis concludes by underscoring the strategic importance of nanotechnology in advancing low-carbon development pathways and highlights the need for coordinated global efforts to unlock its potential, particularly in emerging economies. With coordinated global action, nanotechnology can play a pivotal role in shaping energy transitions that are not only low-carbon but also sustainable, equitable, and resilient for all nations.