The marker pen market to record an expansion at 2.9% CAGR over the forecast period (2018-2026).
Albany, NY -- (SBWIRE) -- 12/07/2018 -- Global sales of marker pens are likely to be driven by steady demand from educational institutions and corporates, however, the impact of digital platforms will be palpable on the market. On account of these factors, the market pens market is likely to grow at a modest 2.9% CAGR during the assessment period. These insights are according to a new research study titled "Global Market Study on Marker Pens: Unique Offerings Such as Twin-Tip Marker Pens to Offer Versatility to Users" that has been added to the repository of Market Research Hub (MRH).
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According to the research study, the global marker pens market is likely to reach a valuation of nearly US$ 400 million in 2026. Sales of marker pens will be influenced by a range of factors concerning environmental sustainability. Demand for marker pens made from biodegradable and recyclable materials is likely to witness an increase over the course of the forecast period.
According to the research study, manufacturers are focusing on innovation and development of niche products to counter the threat posed by tablets and smartphones. Marker pen manufacturers are focusing on offering a wide range of affordable options to create opportunities in the market. Manufacturers are also focusing on product differentiation to gain a foothold in the market. Some examples of innovative products launched in the market include xylene free markers, neon permanent markers, and markers with UV resistant ink.
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According to the study, demand for eco-friendly and environmentally sustainable marker pens is a key prevailing trend in the market. Writing instruments manufactured from biodegradable waste are gaining popularity among consumers. The research study also offers a region-wise outlook on the global marker pens market. According to the study, Asia Pacific will continue to be one of the leading markets for marker pens globally. Steady demand from consumers in China and India is likely to provide an impetus to growth of marker pens market in Asia Pacific. According to the study, marker pen sales in Asia Pacific are likely to grow at a steady pace during the course of the forecast period.
The research study on marker pens market also offers a detailed analysis on the competitive landscape in the market. The market study profiles the key developments of some of the leading players in the marker pens market. According to the study, some of the leading players in the marker pens market are Newell Brands, Kokuyo Camlin Ltd., Société BIC SA, Pilot Corporation, Mitsubishi Pencil Co., Ltd., Pentel Co., Ltd., and Shanghai M&G Stationery Inc.
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