Albany, NY -- (SBWIRE) -- 09/24/2018 -- A writing instrument or writing implement is an object used to produce writing. Writing instruments can also be employed for drawing, painting, and technical drawing. Their primary function is to generate smooth writing.

The global writing and marking instruments market is poised to expand at a significant rate over the forecast period. A strong emphasis on education has led to the overall rise in the number of students receiving admissions in schools and colleges, thereby fuelling the demand for writing and marking instruments. Other major contributing factors include the popularity of personalized writing instruments as gifts, and the growing acceptance of high-quality pens as a status symbol.

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Increasing correspondence over the internet reducing the need for written communication is a major challenge faced by writing and marking instruments. However, the rising literacy rates in emerging countries coupled with the growing prominence of luxury fountain pens are predicted to propel this market into a positive growth trajectory.

The global writing and marking instruments market can be segmented on the basis of product type into the following categories: pencils, pens, coloring instruments, markers & highlights, and writing accessories. Pens held a share of more than 50% in the global market and are anticipated to remain the dominant segment throughout the forecast period. The escalating demand for writing gear equipped with superior features is bound to be the primary reason for the advancement of this segment.

In terms of distribution channel, the global writing and marking instruments market can be classified into the following divisions: departmental stores, stationers & office supplies, supermarkets/hypermarkets, and online retailing. A host of companies tie up with local schools, colleges, and offices to supply writing instruments, which leads to the dominance of the stationers & office supplies segment. It is projected to develop at a considerable pace during the forecast period due to the mounting literacy rates around the world and increasing number of companies.

By geography, the global writing and marking instruments market can be distributed over North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific constituted the maximum share in the overall market, which is largely attributed to the rising demand for superior writing instruments and importance granted to education in this region. Moreover, this region serves as the manufacturing hub of the world. A substantial number of multinationals as well as medium and small-scale businesses are present here, which is likely to boost the demand for writing and marking instruments.

The global writing and marking instruments market is extremely competitive in nature and dominated by a few key players who compete on the parameters of product, pricing, positioning, and product differentiation. The market rivalry is estimated to intensify further over the forecast period as vendors are constantly opting for product extensions.

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Key players operating in the global writing and marking instruments market include Faber-Castell in Germany, Crayola and Pilot Corporation in the U.S., Uni-ball in Japan, Kokuyo Camlin and Hindustan Pencils Pvt. Ltd. in India. Some of the other noticeable vendors in the market include Shanghai M&G Stationary in China, Societe BIC in France, Koh-i-noor HARDTMUTH A.S. in the Czech Republic, Hoshan Pan Gulf in Dubai, Pelikan and Caran d'Ache in Switzerland, A.T. Cross and Newell Rubbermaid in the U.S., and STABILO International, Staedtler Mars GmbH & Co. KG, and MontBlanc International GmbH in Germany.