The global smart materials market reached a value of US$ 47.36 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 92.48 Billion by 2027 exhibiting a growth rate (CAGR) of 11.20% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor. Smart Materials are manufactured by modifying the mechanical and physical properties of standard Nanomaterials under externally controllable and applied fields.
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