This report reviews the status of research and development in nanoparticles, nanostructured materials, and nanodevices worldwide, with particular focus on comparisons between the United States and other leading industrialized countries. Topics covered include particle synthesis and assembly, dispersions and coatings of nanoparticles, high surface area materials, functional nanoscale devices, bulk behavior of nanostructured materials, and biological methods and applications. The final chapter is a review of related government funding programs around the world. The report also includes site reports for visits conducted by the panel to leading research laboratories in Japan and Europe. The panel held workshops in the United States, Germany, Sweden, and Russia to gather additional information for this report on activities in those countries. The proceedings of the U.S. and Russia workshops are being published separately by WTEC. The panel's conclusions include the following: (1) In the synthesis and assembly area (Chapter 2), the U.S. appears to be ahead with Europe following and then Japan; (2) In the area of biological approaches and applications (Chapter 7), the U.S. and Europe appear to be rather on a par with Japan following; (3) In nanoscale dispersions and coatings (Chapter 3), the U.S. and Europe are again similar with Japan following; (4) For high surface area materials (Chapter 4), the U.S. is clearly ahead of Europe and then Japan; (5) In the nanodevices area (Chapter 5), Japan seems to be leading quite strongly with Europe and the U.S. following; In the area of consolidated materials (Chapter 6), Japan is a clear leader with the U.S. and Europe following. These and other conclusions are reviewed in detail in the panel's executive summary.