Textiles Segment To Account For The Fastest-growing In Cotton Processing Market

By Author: Sonal
Total Articles: 84
Comment this article

The cotton processing market is estimated to grow at USD 59.7 billion in 2018 and is projected to grow at a CAGR of 4.0% from 2018, to reach a value of USD 72.6 billion by 2023. The growth of the cotton processing market is driven by the increasing demand for cotton processing in the textile industry and the rising adoption of cottonseed meal as feed for animals.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=223254896

The rise in urbanization and change in the lifestyle of consumers have led to an increase in the demand for textiles, which, in turn, is projected to drive the growth of the lint segment. In addition to this, the growing awareness about product quality among consumers is projected to reflect positively on the growth of the cotton processing market in the coming years.

The textile segment is estimated to account for the largest share of the global cotton processing market in 2018. The textile industry witnesses a significant demand for effective cotton processing techniques. Raw cotton is used as a key ingredient in the textile manufacturing applications, and ...
... there are no raw materials to substitute it. This leads to an increased demand in the textile industry. With the increasing purchasing power and technological advancements for expanding the production capacity of cotton in improving the fabric quality, the demand for processed cotton is projected to remain high globally.

On the basis of type, the cotton processing equipment market is segmented into spinning and ginning. The spinning segment is projected to be the dominant market in the cotton equipment processing market from 2018 to 2023. This is due to the increasing yarn consumption in the textile, medical & surgical, and consumer goods sectors. Rising expectations of the consumers are also encouraging innovations, in terms of technology, for producing better quality products. The changing preferences of consumers, blended with technological advancements, is driving the market growth.

Key players identified in cotton processing market include Lummus Corp (US), Bajaj Steel Industries Limited (India), Nipha Exports Private Limited (India), Shandong Swan Cotton Industrial Machinery Stock Co., Ltd. (China), Cherokee Fabrication (US), Reiter (Switzerland), and Toyota Industries (Japan). Key players are focusing on increasing their presence through undertaking investments and expansions and developing products specific to consumer preferences in these regions. These companies have a strong presence in Asia Pacific and North America.