The global market for writing instruments is wide comprises of consumers belonging to different classes and group. The global market for writing instruments consists of pencil, pen, color pencil, markers, and others. With the entry of liberalization, privatization and globalization in all over the world, not only premium products entered the market whereas many medium and low priced writing instruments have marked popularity. The global writing instruments market has observed significant growth over the past few years and is anticipated to expand at an exponential CAGR during the forecast period. Demand for writing instruments in educational institutes is anticipated to foster the growth of the market over the forecast period. On the other hand, the utilization of computers as well as advanced telecommunication equipment may hamper the usage of writing instruments in future.
Inclination in the utilization of luxury writing instruments as a matter of status symbol is one of the key growth drivers of global writing instruments market. Apart from this, acceptance of personalized pens as gifting preferences is also likely to fuel the growth of the global writing instruments market from 2016-2022. Changing preferences of urban households is also one of the factor fuelling the growth of the market. The rising demand for writing instruments as a corporate gifts and utilization in various exhibitions, trade shows, events, conferences and seminars is expected to boost the growth of global writing instruments over the period 2016-2022.
Geographically, the Global Writing Instruments industry can be divided by major regions which include North America, Latin America, Western and Eastern Europe, Asia-Pacific region, Japan, Middle East and Africa. Due to availability of large number of medium and small enterprises in the manufacturing of writing instruments, Asia-Pacific marked the highest share in global writing instruments market in 2015 followed by it North America and Europe. Increasing focus on education sector and robust demand for good and eminent writing instruments are the core drivers of the market growth which is anticipated to retain the dominance of Asia pacific in writing instruments during the forecast period.
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Some of the top players identified across the value chain of the global writing instruments include faber-castell, camlin, Mitsubishi pencil, crayols, Societe BIC, Pilot Corporation, STABILO International, Hindustan Pencils (Natraj), Reynolds, Shanghai M&G Stationary, Newell Rubbermaid, and others. The companies are anticipated to compete on the basis differentiation in prices, new and innovative writing instruments and wide product portfolio. The manufacturers are expected to follow new business strategies related to pricing and other in order to grab the major chunk in global writing instruments market in future.