Understanding the chemistry of nanomaterials has become essential due to their increasing importance over years. This report discusses their consequences of small size . An emphasis has been laid to its magnetic, optical and electrical properties as well. It also gives an insight to different methods of synthesis like co-precipitation, laser ablation and biological synthesis. To examine the physiochemical properties of nanomaterials, various techniques like Transmission Electron Microscopy

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... , Spectroscopic Analysis (UV-Visible Spectroscopy), Atomic Absorption Spectroscopy (AAS), X-ray powder diffraction (XRD) etc were analyzed. Also the applications of nanomaterials these days like in electronic devices, fuel cell application, drug delivery, nanoparticles as a catalysts have been reported along with their future prospects.