(EMAILWIRE.COM, October 30, 2021 ) MarketsandMarkets projects that the washable markers market size will grow from USD 425.5 million in 2018 to USD507.0 million by 2023, at a CAGR of 3.57%.Rise in the number of school-going children coupled with a rise in disposable income of householdsmainly drive the washable markers market growth.

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The key players in the washable markers marketincludeCrayola LLC (US), Faber-Castell (Germany), F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A (Italy), BIC Group (France), Newell Brands (US), Carioca S.p.a (US), Liqui-Mark (US), Stabilo International GmbH(Germany), Dri Mark Products Inc.(US),and Luxor Group(India).These players adopted strategies such asagreements &contracts,partnerships,mergers & acquisitions,and newproduct &technology launches to strengthen their position, expand their global presence, and increase their share in themarket.

F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A is a France-based company primarily engaged in the manufactureand supply of creative tools, writing &painting products such as pencils, crayons, modeling clay, chalk, oil colors, acrylics, watercolors, paints, and paper for school, leisure, and practicing fine arts.The company continues to expand itscapacity by adopting inorganic strategies such as acquisitions across the world.

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InJune 2018,F.I.L.A. Group acquired Pacon Holding Company (US). Pacon is one of the main players in the North American market for products in the school and arts & crafts sectors. The acquisition of Pacon will help FILA strengthen its product portfolio in the arts& crafts sector.

In February 2016,F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A acquired Daler-Rowney (UK), which has been producingand distributingmaterials and accessories for the arts& crafts industry since 1783. This acquisition helped F.I.L.A to strengthen its presence in the arts& crafts industry.

BIC Group was incorporated in 1944 and is a leading producer of stationery products in Europe and North America. The company operates through three business segments, namely, stationery, lighters, and shavers. It offers a range of washable markers through the stationary segment.

In August 2018,HACO Industries Kenya Ltd and BIC signed an agreement for transferring the manufacturing facilities and distribution of HACO Industries’ products to BIC. The definitive agreement will result in the transfer of the manufacturing facilities in Kenya and the distribution of stationery, lighters, and shavers in East Africa from HACO Industries to BIC. This transaction is in line with BIC’s continued growth strategy in Africa, and the long‐term growth plans of HACO Industries, which aims to diversify its portfolio and presence in Western andSouthern Africa.

In October 2017, BIC set up a new writing instrument factory in Samer (Northern France). The new production facility includes both production and R&D functions in the field of graphite and coloring products.

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