The Art Supplies market study analyzes each market player encompassed in the market study as per its market share, production footprint, current launches, agreements, ongoing R&D projects, and market strategies. SWOT analysis has been performed in the market study to investigate the strengths, weaknesses, opportunities and threats of each player.
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Among all the art supplies product types, writing pens are expected to capture more than 50% of the market share in 2020. Factors such as increasing literacy rate, initiatives taken by governments to develop academic institutions, and rising number of student enrollments in schools and colleges are driving the sales of writing pens. In addition, manufacturers are focusing on offering innovative writing instruments that have multipurpose use cases. For instance, Pilot Corporation launched the Frixion Series of erasable ballpoint pens. Such developments of products are expected to strengthen the market for writing pens in the future.
Moreover, art supplies market players are focusing on using natural and recyclable material for the manufacturing of pens, which has further increased the demand for pens, globally. Owing to the above-mentioned facts, environmentally-friendly aspects and innovative product offering related to writing pens will drive demand over the forecast period.
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Regional Outlook of Art Supplies Market
North America will dominate the global art supplies market share in 2020, accounting for more than 35% of the market share in terms of value, followed by East Asia with 1/4 of the share. However, North America, with the most COVID-19 cases, and being a key region for art supplies, coupled with a high number art supplies companies, has witnessed a negative impact on sales in 2020. Moreover, with growing popularity of innovative art supplies in developed countries, especially among millennials and generation Z, is foreseen to create a plethora of opportunities for players operating in the art supplies market.
The Art Supplies market report provides the readers with the below-mentioned insights:
- Key trends, including ecological conservation, patented solutions, and globalization.
- Consumption pattern of each segment of the market in every region.
- Detailed study of the factors (positive and negative) impacting the growth of the global Endobronchial Valves market.
- Critical analysis of R&D activities performed by market players to expand their production footprint across various industries.
- Thorough research of effect of the market across various end use industries.
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The Art Supplies market report gets rid of the following queries:
- Which end use has the highest rate of consumption and why?
- Which regions are the market players targeting to gain a competitive edge?
- What is the growth forecast of the global market in region?
- What is the Y-o-Y growth rate of the global market?
- Which segment will have the maximum share of the global market by the end of year?
And so on…..
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