The Global Market for Writing and Marking Instruments is Projected to Reach US$21.6 Billion by 2024

Rising Literacy Levels & Launch of Innovative Designs of Pens and Pencils to Drive the Global Writing and Marking Instruments Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Writing and Marking Instruments market. The global market for Writing and Marking Instruments is projected to reach US$21.6 billion by 2024, driven by favorable demographic trends, rising literacy levels, increased consumer spending, innovative features and capabilities of writing instruments, and strong growth of pens as a promotional and gift item.

Newer technologies such as computers and smartphones have failed to drive traditional writing instruments into obsolescence, which is put to perspective by the fact that they still command a multi-billion dollar market opportunity. While the student community represents their major market, writing instruments have also become an integral part of office environment serving stationery needs for employees. Even professionals such as doctors, engineers, architects have widespread use of writing instruments in their daily work life. Product developments and expanding range of activity on the desk have especially redefined the scope of the writing instruments market to even include marking tools and art goods besides the traditional pens and pencils.

While literacy levels, demographic trends, number of school/college going children, new student enrollments, income levels and academic seasons primarily dictate demand patterns for writing & marking instruments in educational use segment, demand in the office-use segment primarily relies on the health of enterprise sector, new office starts, size of working population, and most importantly budgets allocated for new office stationery and replenishments. Demand for writing & marking instruments also come from household use, which also depends on key demographic trends of a given region or a country such as population, number of households, average number of people per household, number of people by age etc. Beyond these traditional segments, writing & marking instruments also find huge demand from individuals collecting unique range of luxury writing instruments, typically pens. High-end luxury pens especially are perceived as statements of personal style and success and preferred by shoppers seeking personalized items with a functional and perceived value.

  Growth prospects in the market primarily rely on the level of innovation, leadership and efficiencies that participants can bring to the marketplace. Product innovations, especially those that bring utility value and exclusiveness to traditional product offerings remain the key to market growth in a fragmented and crowded marketplace. Innovative pricing, business, packaging and distribution models and focus on specific niche markets also help influence growth patterns in the writing and marking instruments globally. The pens market is also likely to benefit from continuous launch of new pens that offer an array of improved features such as new inks, better designs and more comfort.

As stated by the new market research report on Writing and Marking Instruments, Asia-Pacific represents the largest and the fastest growing market worldwide with a CAGR of 6.6% over the analysis period. Asia-Pacific is forecast to drive future growth in the market led by steady rise in child population in countries such as China and India, and increase in school enrolments as a result of educational programs implemented by the governments. Also driving demand is the increase in business development activities and subsequent rise in number of office establishments.

Key players in the market include Add Pens Private Ltd., A. T. Cross Company, Crayola LLC, Dollar Industries Pvt. Ltd., Faber-Castell, Kokuyo Co., Ltd., Mitsubishi Pencil Co., Ltd., Montblanc International GmbH, Newell Brands, Pentel Co., Ltd., Pilot Corporation, Pilot Corporation of America, Sailor Pen Co., Ltd., Societe BIC, STAEDTLER Mars GmbH & Co. KG, Tombow Pencil Co., Ltd., and Zebra Co., Ltd., among others.

The research report titled “Writing and Marking Instruments: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections in dollars for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Middle East & Africa, and Latin America (Brazil, and Rest of Latin America). Product group/segments analyzed in the report include Pens/Markers (Ballpoint & Gel Pens, Roller Pens, Mechanical Pens, Fountain Pens, and Markers), and Pencils/Art Goods (Wood-cased Pencils, Mechanical Pencils, and Art Goods).

For enquiries e-mail us at rsd@strategyr.com or info411@strategyr.com.

To connect with us, visit our LinkedIn page.

Global Industry Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.