It wasn't until liquid paraffin was combined with pigment that you got something easy to hold and work with, and not messy. Various companies made crayons before Binney and Smith started their American factory. But their product was the one that took off.
BINNEY AND SMITH
At first the company made crayons just for artist's use, but after the company won a gold medal at the 1904 St Louis World's Fair, they decided to use this medal to launch a new product. The medal was for their dustless chalk, but in those days, the award was considered a great achievement. If you look at a Crayola package, you will notice that they still show the award. Crayola was repackaged as a children's product.
1905 the 8 color box is introduced in regular and large sizes.
1939 a 52 color box was introduced, only to be discontinued within a few years.
1949 the 48 color box was created.
1958 the 64 color box, with sharpener, was introduced and was immediately very popular.
You can get a 200 pack of Crayola crayons, but these include colors besides the standard 120,including glitter, metallic, etc