New York, Oct. 02, 2019 (GLOBE NEWSWIRE) -- Increasing demand for washable markers by non-toxic sub-segment coupled with high investment in R&D of washable markers are fueling the market growth.
The global washable markers market is forecast to reach USD 561.3 Million by 2026, according to a new report by Reports and Data. The market is rising rapidly as the demand for the non-toxic markers are substantially propelling coupled with the rising growth of children usage applications as these inks are made of chemical compounds such as cyclic alkylene carbonates and some of the food-grade vegetable dyes which are completely non-toxic. The market is highly driven by the educational sectors as the washable markers are now mostly preferred by the educational institutes over the conventional chalks due to water-based solution and being non-dusty, unlike the chalks. Also, being washable, the ink can be easily washed off and reused with ease. Office usage includes the whiteboards, noticeboards, projection white paper use, and others. The self-vanishing type of markers are largely propelling the market, being highly attracted by the kids.
The North America region is forecasted to generate the highest revenue of USD 229.6 Million in the year 2026, as most of the educational institutes in the United States and Canada prefer using these kind of markers.
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Further key findings from the report suggest
- Educational sectors such as schools, colleges, universities, coaching centers, and other educational institutes use the washable markers as these are quite convenient for writing and erasing repeatedly. Being water-based these don't carry any dust like the traditional chalks and are highly preferred by the teachers. Educational sectors had the market revenue of USD 182.3 Million in 2018.
- Others include the use of washable markers on the clapperboards by the moviemakers in the shooting spot or any temporary usage on the noticeboards or dashboards. This segment had a market share of 3.4% in 2018.
- Self-vanishing markers are made by dissolving a small amount of thymolphthalein in the ethyl alcohol solution followed by the dilution with water and the final addition of the sodium hydroxide solution. Thymolphthalein is an acid-based dye, and below the pH level of 9.3–10.5 it becomes colorless, and above this range it becomes blue. This type of markers attracts the children and is an active contributor in this market. The segment is forecasted to gain a market share of 19.9% by 2026.
- The scented segment consists of the odorized markers which provide with sweet smells of various fruits or floral fragrances. The kids are attracted by this type of marker and would add to the market growth significantly with a market share of 14.7% by 2026.
- APAC, due to the high growth of the educational institutes, is helping the market grow with the fastest CAGR of 4.8% throughout the forecast period. China and India are some of the most valuable contributors in this region.
- North America is accounted to sustain its domination in the market with the highest share of 40.9% by 2026, with a CAGR of 3.6% in the forecast period.
- Europe is forecasted to witness a significant growth in the overall market, with 24.5% of market possession by 2026 and CAGR of 2.9% during the forecast period.
- Key participants include Crayola, Faber – Castell, Liqui-Mark Corporation, Luxor Writing Instruments Pvt. Ltd., Dri Mark Products Inc., F.I.L.A. Group, STABILO International GmbH, Kokuyo Camlin Ltd., Carioca S.p.a., and Newell Brands.
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Segments covered in the report:
For the purpose of this report, Reports and Data have segmented the global Washable Markers market on the basis of the type, functions, applications, and region:
Type Outlook (Revenue, USD Million; 2016-2026)
- Semi-Washable
- Ultra-Clean Washable
- Self-Vanishing
Functions Outlook (Revenue, USD Million; 2016-2026)
- Rehydrateable
- Non-Toxic
- Multi-Surface
- Scented
Applications Outlook (Revenue, USD Million; 2016-2026)
- Children Usage
- Educational Sectors
- Official Purpose
- Others
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Regional Outlook (Revenue, USD Million; 2016-2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
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