Marker Pen Market – An instrument which is used for writing on the white boards
Marker pen is growing in popularity, owing to the expansion of the end-use industry. Marker pens are used as highlighters, whiteboard markers, security markers, etc.
Rise in their demand from educational institutions and corporate offices is driving the marker pen market.
Manufacturers are also focusing on product development and innovations to boost their share of the global market. Growing demand for eco- friendly and recyclable products is fueling the demand for marker pens.
Asia Pacific and South America regions are expected to be major contributors to the market growth, owing to the expansion of academic institutions and corporate offices. Moreover, the demand for non-permanent marker is also growing. This is likely to drive the global marker pen market.
Economic condition of developing countries is improving due to rapid industrialization and urbanization. This is anticipated to fuel the demand for Market Pen during the forecast period.
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Increase in Demand from Educational Institutions and Corporate Offices to Drive the Global Marker Pen Market
Schools, colleges, and other educational institutions account for a significant share of the total demand for marker pens across the globe. Blackboards in educational institutes are being replaced with whiteboards that use marker pens. Moreover, rise in use of marker pens in corporate offices during conferences and meetings is expected to drive the global marker pen market. Furthermore, growth of the service sector and surge in the number of academic institutions in developing countries are creating a steady demand.
Development in Distribution Channels and Adoption of Different Business Strategies
Development of modern distribution channels such as e-commerce, hypermarket or supermarket are expected to drive the global marker pen market. Manufacturers are expanding their customer base by adopting online channels for marketing their products. Additionally, companies are using different marketing strategies, such as offering promotional products, which include T-shirts, calendars, diaries, etc., along with their products, to increase their customer reach.
Key Players Operating in the Marker Pen Market:
Companies manufacturing marker pens are focusing on expanding their footprint in emerging economies. They aim at geographical expansion to cater to the high demand across different regions. Developing countries of the Asia Pacific region are expected to witness significant demand for market pens.
Major players are expanding their product portfolio to gain market share. For instance, in January 2019, STAEDTLER Mars GmbH & Co.KG launched a new product under its triplus range called STAEDTLER triplus permanent.
A few of the key players operating in the global Marker Pen market are:
Chartpak, Inc.
Faber-Castell
Guangdong Baoke Stationery CO., LTD
Kokuyo Camlin Ltd
Newell Office Brands
Sakura Color Products of America, Inc.
Sanford L.P.
STABILO International GmbH
Staedtler Mars GmbH & Co. KG
Too Marker Products Inc.
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Global Marker Pen Market: Research Scope
Global Marker Pen Market, by Type
Permanent Marker Pen
Temporary Marker Pen
Global Marker Pen Market, by Tip Type
Bold
Medium
Fine & Extra Fine
Global Marker Pen Market, by Application
Residential
Commercial
Global Marker Pen Market, by Distribution Channel
Online
Offline
Hypermarkets/ Supermarkets
Specialty Stores
Small Retail Stores
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
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The following regional segments are covered comprehensively:
North America
Asia Pacific
Europe
Latin America
The Middle East and Africa
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