The exact number of pencils in the world is not known, as they are mass-produced and their lifespan varies greatly depending on usage and storage conditions. However, it is estimated that billions of pencils are produced annually, with the global pencil industry valued at over $2 billion. The largest pencil manufacturers, such as Faber-Castell, produce hundreds of millions of pencils per year, and the average pencil lasts for several months to years before needing to be replaced.