Today, nanotechnology plays an increasingly important role in a wide range of consumer products. It is creating new market opportunities for consumer product manufacturers, while increasing the efficiency of manufacturing and logistics operations. Conversely, the consumer products industry is an important market for many nanotechnology companies. Nanotechnology is having an impact on consumers' lives, providing them with new or improved products, often at a lower cost. Nanoscale materials are used in electronic, magnetic and optoelectronic, biomedical, pharmaceutical, cosmetic, energy, catalytic and materials applications. Areas producing the greatest revenue for nanoparticles reportedly are chemical-mechanical polishing, magnetic recording tapes, sunscreens, automotive catalyst supports, biolabeling, electro conductive coatings, optical fibers, non-volatile magnetic memory, automotive sensors, landmine detectors and solid-state compasses. More than $32 billion in products containing nano-materials were sold globally last year. The total market for end products that rely on nanotechnologies for their production, functioning and/or distribution is expected to reach $958 billion in 2010. By 2014, it is projected that $2.6 trillion in manufactured goods will incorporate nanotechnology.