Evaluation of the efficiency of nanotechnology products from technical, economic, and social perspectives (case study: Nano engine oil)

Nanotechnology products have created a new industrial revolution that can be effective and useful in different fields including industry, agriculture, pharmacy, medicine, etc. Nanotechnology is a branch of applied knowledge and technology which covers a wide range of matters. The unique feature of nanotechnology is the elements called nanomaterials or nanostructures. In this regards, this paper is presented aimed at evaluating the efficiency of nanotechnology products from technical, economic, ad social perspectives (case study: Nano engine oil). In order to evaluate the technical efficiency of nanotechnology products, several important indicators in this industry including viscosity index, flash point, pour point, density, and the total alkalinity were measured before adding the nanomaterials and after conversion to a product, and the efficiency of the products was evaluated regarding the importance coefficient of each of the indicators. In order to evaluate the economic efficiency of Nano engine oils, the studied indicators were decreased fuel consumption, and decreased air pollution. Testing method in this research is pair wise data comparison regarding the importance coefficient. The research results approve the research hypothesis which suggests the increased efficiency of nano engine oil in the case of using nanotechnology in production process, and by changing the used technologies and moving towards Nano engine oils with a 55-percent increase of the final price of the product, technical efficiency of the Nano engine oils is raised by 46%, and this increased efficiency leads to social and economic efficiency of the product respectively by 30% and 16%.