Los Angeles, CA -- (SBWIRE) -- 08/15/2019 -- Writing is a medium to express thoughts, ideas, expression, and feelings. To consolidate the human emotions writing plays a very important role. A writing instrument is an object used to produce writing. These instruments are used for painting, drawing, and technical drawing. Smooth writing is a basic function of Writing Instruments. The education sector has witnessed a remarkable transformation from the past few years. Manufacturers are adopting the changing scenarios at a faster pace by mean of product differentiation. Technological advancements are also supplementing the market growth.
Recently, Montblanc, German luxury Writing Instrument Company has come up with a new range of Writing Instruments. Newly launched "star walker collection" is inspired by space exploration. This collection includes a ballpoint pen, fountain pen, and liner pen. Reportedly, an authentic collection of Writing Instruments is based on the principle of reconnecting with our planet.
BIC Acquires Lucky Stationery Nigeria Ltd (LSNL)
BIC has recently signed a definitive agreement to acquired Lucky Stationery Nigeria Ltd (LSNL). Nigeria's leading Writing Instruments manufacturer LSNL's acquisition by BIC to create outstanding market growth in the future. The brand value of LSNL with the distribution channel is going to strengthen the current position of BIC. Reportedly, Nigeria is a booming market in the Africa region and LSNL sells the products of approximately 425 million per year. It is anticipated that company will achieve double digit annual growth in the next five years.
Apart from this, major market participants operating in the market are Schwanhäußer Industrieholding GmbH & Co. KG, Flair Group of Companies, Pilot Corporation, Newell Brands, Inc., C. Josef Lamy GmbH Srl, Mitsubishi Pencil Co., Ltd., STAEDTLER Mars GmbH & Co. KG, Moleskine SpA, MontBlanc International GmbH, Faber-Castell, Kokuyo Camlin Limited, Linc Pen & Plastics Ltd., Shanghai M&G Stationery Inc., Pentel Co. Ltd., Luxor Writing Instruments Private Limited, Pelikan AG, Zebra Co. Ltd., Hindustan Pencils Private Limited, Schneider Schreibgeräte GmbH, The Cumberland Pencil Co, Hoshan Pan Gulf, Pelikan, Caran d'Ache,Uni-ball , Société BIC SA, STABILO International, and Koh-i-noor HARDTMUTH A.S
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Writing Instruments with Biodegradable Raw Material is Expected to Boost The Market Growth
The importance of education has led to the rise in the number of students receiving admissions in colleges and schools, this is the important factor which is boosting the demand for various writing instruments in the global Writing Instruments market. Increasing popularity of customized Writing Instruments as a gift and rising usage of expensive writing pens as a status symbol are likely to expand the global Writing Instruments market in the coming years.
Product differentiation is the need of an hour, manufacturers are introducing innovative products such as designer Writing Instruments, multiple colored inks pen, different styles of ball pen body, and a ball pen with stylus. It is a paradigm shift towards recyclable or biodegradable material. Nowadays Pen and pencils are manufactured from recycled raw material, therefore it is expected to the increase the growth of the global Writing Instruments market.
High-end luxury pen manufacturers are catering to the population in North America and Europe, therefore these regions are likely to hold a substantial share of the global Writing Instruments market. Apart from this, a strong emphasis on education and flourishing small scale industries in the Asia Pacific region are anticipated to boost the market growth in the region.
By Product Type
o Mechanical Pencils
o Ball Point
? Coloring Instruments
? Highlighter & Markers
By Sales Channel
? Online Channel
? Departmental Store
By product type, the pen segment is likely to acquire the largest market share of the global Writing Instruments market followed by various other segments. Advancement in the features and looks are primarily the main reasons for boosting the demand for pen segment. Companies have direct tie-ups with schools and colleges, thereby the stationary segment is likely to dominate the global Writing Instruments market.
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