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.
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.
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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.
North America to Hold a Leading Share of Global Marker Pen Market
- Geographically, the global Market Pen market can be divided into five regions: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA).
- North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the Market Pen market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the Market Pen market analysis and forecast of GCC countries, South Africa, and Rest of Middle East & Africa. The South America Market Pen market is segmented into Brazil, and Rest of South America.
- North America dominates the market share due to prevalence of writing with marker pen has increased. Increasing in number of foreign students in countries like such as U.S. and Canada has boosted the sales of the marker pen.
- However, Asia Pacific is anticipated to grow at a fastest CAGR growth rate during the forecast period. Increase in number of student and improvement in the quality of education in the region.
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.
- 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
- Fine & Extra Fine
Global Marker Pen Market, by Application
Global Marker Pen Market, by Distribution Channel
- Hypermarkets/ Supermarkets
- Specialty Stores
- Small Retail Stores
The report on the global Market Pen market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and regions.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.