During the course of the forecast period, the market for Smart Materials is expected to grow at a rate of over 3%. (2022-2027). The COVID-19 outbreak led to global lockdowns, disruptions in supply chains and Smart Material processes, and production halts, all of which had a detrimental effect on the market in 2020. Nevertheless, things started to turn around in 2021–2022, which is anticipated to accelerate market growth throughout the course of the projection year.
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