Graphite pencils, long used for general writing, note-taking, and studying, are also popular media for making completed drawings. Graphite-colored pencils are a popular alternative for individuals that love to work with graphite yet wish to add color to landscapes, seascapes, nature studies, and portraits. As carbon and graphite are smoother and smudge able, a fixative is recommended for storing and protecting the finished work. Graphite colored pins is manufactured from student grade to vocational level at a broad range of price, quality and usage. The quality of the marking and therefore its market price is concerned with concentrating its pigments in the core, the pigments' lightness, the durability of the colored pencil and the softness of the core. The market for graphite colored pencils has fallen owing to the arrival of a COVID-19 pandemic and schools have been shut down, as consumers didn't have the requirement for colored pencils.
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COVID-19 Impact Analysis
As the COVID-19 pandemic has forced countries to enforce lockdown, the supply and distribution chain had disrupted. The shutdown of activities in school, colleges, and corporate offices impacted the need for graphite colored pencil.
The production process for graphite colored pencil has become a challenge for companies due to the limited availability of labour, disrupted raw material supply and logistic issue. The decreased requirement of dunnage packaging in different sectors had lead to a downfall in the growth of the graphite colored pencil market.
Due to the implementation of lockdown, a fluctuation in the price of raw material occurred. Sellers and distributors quoted a high price for raw materials that increased graphite colored pencil in exchange.
Top Impacting Factors
- The increasing worldwide education system creates public health and environmental awareness, which creates significant demand for eco-friendly crayons. Environmentally friendly products may be recycled and are the best customer option worldwide. Similarly, the educational system is increasing, for example, in developing economies like India, China, Brazil, and others. There is a high demand in India, China, Brazil, and other developing economies for environmentally friendly pencils made from recycled paper.
- The growing trend in digital consumers purchasing has led pencil manufacturers to cooperate with online service providers, marketing agencies and brand advisors to sell products through online sales. Moreover, pencil producers, such as Paper Mate and others, are making considerable investments in e-commerce. Paper Mate collaborated with the majority of online retailers who provide their competitors with a competitive edge. Companies are therefore striving together with brand awareness among consumers to grow their presence online.
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Market Trends
Increasing imports of raw material to boost manufacturing companies.
- Increased imports of raw materials, easy production methods, and demand for color pencils in the predicted term are expected to raise the price of graphite color pencils. In the next several years, global competitiveness in manufacturing is projected to increase. Moreover, in terms of competitiveness, Brazil seems to be in an advantageous position for the future. The national industrial plan should provide Brazilian producers with a favorable tax benefit on the graphite-colored pencil market from a policy standpoint. Graphite mining helps the country also obtain the needed graphite at reasonable costs for production.
- High price graphite colored pencil is a restraint to the growth of the graphite colored pencil market.
- Some of the manufacturing companies are offering high priced graphite colored pencil as they targeting high-class consumers for a business. Due to the high price of the product, the lower or middle-class consumers do not have an option to purchase the product. The inability of the companies to provide a mid-range product is creating a gap in demand and supply. The companies have to look for an alternative for the consumers who are unable to pay a high amount.
Companies are forming a partnership with schools, colleges and corporate offices.
- The manufacturing companies are forming a partnership with the schools, colleges, corporate offices to increase their sale. The distribution of graphite colored pencils among customers in schools, universities and corporate offices so that they can use the pencil and choose the same brand in the future. The experience by the consumers is expected to work as a word of mouth strategy that will benefit the company.
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Key Benefits of the Report
- This study presents the analytical depiction of the graphite colored pencil industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the graphite color pencil market share.
- The current market is quantitatively analyzed to highlight the graphite colored pencil market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed graphite colored pencil market analysis on the basis of competitive intensity and how the competition will take shape in coming years
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