Proficient Market has published a new report titled “Marker Pen Market”. According to the report, global marker pen market in 2018 stood at USD 312.92 million and is expected to reach USD 397.35 million by 2026 growing at a CAGR of 3.08% from 2019 to 2026.
Marker pen is also known as marking pen. It has its own ink-source. While its tip is made up of porous, and presses fibers including felt. Despite this, the marker pen is permanent which consists of a container of any material including aluminum, glass, or plastic and a core absorbent material that are useful in serving as a carrier for the ink. Moreover, a marker pen is made up of hard felt material which consists of a nib and a cap for preventing the marker from drying. Apart from this, the ink of the marker pens is composed of alcohols for e.g. 1-butanol, 1-propanol, cresols, and diacetone alcohol. While the marker pen is of different types including dry-erase, waterproof, permanent and wet-erase.
Marker Pen Market: Key Players
The research study includes profiles of leading companies operating in the global marker pen market. Key players profiled in the report include: STAEDTLER Mars GmbH & Co. KG, Shanghai M&G Stationery Inc., Sakura Color Products of America, Too Marker Products Inc., Guangdong Baoke Stationery CO., LTD., ShinHan Art Materials Inc. & Others.
Copic (Too Marker Products Inc.) launched the Colors Holiday Season Gift Set of 36 colors. This new product is especially manufactured for blending colors and creating a beautiful artwork.
Drivers for the Global Marker Pen Market:
Marker pen is gaining popularity due to the expansion of end-user industry. Marker pens are utilized as highlighters, whiteboard markers, security markers, etc. Increase in their demand from educational institutions and corporate offices is driving the marker pen market. However, changing lifestyle, urbanization, and rapid industrialization is improving the economic condition of developing countries that is fueling the demand for market pen market. Rise in GDP, growth in research activities, and increase in investment in academic sector are boosting this market However, increasing demand for promotional products including outerwear, calendars and T-shirts offered by the companies to both customers and employees is the factor responsible for the growth of the global marker pen market.
Opportunities for the Global Marker Pen Market:
While the increasing utilization of innovative and environment-friendly technologies by marker pen manufacturers and surging demand for ecological and recyclable plastic products are the factors witnessed to fuel demand for marker pen market over the forecast period. In addition, manufacturers have alternatives to use environmental safe packaging, as companies have become more conscious towards sustainable products. Thus, rushing use of environmental-friendly products can create profitable opportunity for mark pen market at forecast period. Hence, all these factors are going to fuel the market segment at the forecast period.
Restrains for the Global Marker Pen Market:
The dynamic changes in the market, the need for innovation and the development of the technology are shifting the focus of the companies at the digital transformation and the necessity of digital platforms. As technology revolutionizes the market strategy of modern businesses, companies including startups are leveraging the digital platform to encompass this shift in customer interaction. However, intense impact on digital platforms can hamper the growth of mark pen market. Thus all these factors are responsible for creating a negative impact at marker pen market.
Region Wise, Global Marker Pen Market Analysis:
Region-wise, global marker pen market can be segmented into North America, South America, Europe, Asia Pacific, Latin America, Middle East and Africa. Among all, Asia Pacific leads the global marker pen market share which is followed by North America and Europe. While the Asia Pacific leads the global marker pen market due to the increasing utilization of innovative and environment-friendly technologies by marker pen manufacturers and surging demand for ecological and recyclable plastic products. While the rise in GDP, growth in research activities, and increase in investment in academic sector are accelerating this market in Asia Pacific region. Despite this, the increasing industrialization along with increased adoption of technology is propelling the demand for rapid prototyping materials in this region.
Global Marker Pen Market: Product analysis
Global Marker Pen Market: Application analysis
- Academic Institutions
Global Marker Pen Market: Region analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of L.A.
- Middle East and Africa
- South Africa
- Rest of Middle East
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