The cotton processing market is projected to grow at a CAGR of 4.0%
NEW YORK, Dec. 17, 2018 /PRNewswire/ -- The cotton processing market is projected to grow at a CAGR of 4.0%.
The cotton processing market is estimated at USD 59.7 billion in 2018 and projected to grow at a CAGR of 4.0%, to reach USD 72.6 billion by 2023. The growth of the cotton processing market is driven by the increasing demand for cotton in the textile industry. Rising animal feed is also a factor that has fueled the market growth. Asia Pacific is projected to be the fastest-growing regional market. Asian countries, especially India and China, have emerged as leading players due to the increasing cotton production, which, in turn, is stimulating the cotton processing market growth. One of the major restraints in the growth of the cotton processing market is the high cost of production due to obsolete equipment.
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The lint segment is estimated to account for the largest share in 2018.
Based on product type, the lint segment is estimated to account for the largest share in the cotton processing market in 2018.This is due to the rising urbanization and changing lifestyle of consumers; this has led to an increase in the demand for textiles, which, in turn, is projecting to drive the growth of the lint segment.
However, the rising number of accidents and chronic diseases is also increasing the consumption of processed cotton and cotton bandages globally.The rising exports of lint and cotton products are generating export income across many countries.
All these factors are expected to propel the market growth further.
The textile segment is estimated to account for the largest share in 2018.
Based on application, the textile segment is estimated to account for the largest share in the cotton processing market in 2018.This is due to the changing preferences of consumers toward different types of apparel in developing countries.
This has led to an increase in the usage of different fabrics in the textile industry. Moreover, the increasing investments and policy support by governments is expected to fuel the growth of the textile industry in countries such as India and China.
The spinning segment is projected to be the fastest-growing segment in the cotton processing equipment market.
Based on type, the spinning segment is projected to be the fastest-growing segment during the forecast period.Spinning is considered one of the most important processes in the textile and pharma industries and is used to convert baled cotton into yarn or thread to produce high-strength yarns.
The rising textile and medical & surgical industries have increased the demand for spinning machinery in APAC, Europe, and African countries.
The automatic segment of the cotton processing ginning equipment market is estimated to account for the largest share in 2018.
Based on operation, the automatic segment is estimated to account for the largest share in the cotton processing ginning equipment market in 2018.This is due to the high productivity provided by automatic machines in less time.
Installing fully automated processing equipment leads to accurate processing, quick and reliable production processes, optimum utilization of time, reduced labor costs, and controlled operations.These are some of the factors that are driving market growth.
Some of the major cotton equipment manufacturing companies are Bajaj Steel Industries Ltd (India), Lummus Corp (US), Nipha Exports Pvt Ltd (India), and Shandong Swan Cotton Industrial Machinery Stock (China).These countries have been engaged in manufacturing fully automated cotton processing equipment for cotton processors.
With the availability of such fully automated and integrated processing lines, operational efficiencies and proper control of production processes have been achieved.
High growth is projected in the Asia Pacific cotton processing market.
Asia Pacific is projected to be the fastest-growing market for the period considered for this study, due to the rising disposable income, changing lifestyle of consumers and rapid urbanization of the region.Increase in demand for cotton products such as clothing, cotton bandages, home furnishing products, animal feed, and paper is also driving the market growth.
The growing technology base in the region is also expected to increase the demand for cotton processing in Asia Pacific.
Break-up of Primaries:
• By Company Type: Tier 1 – 35 %, Tier 2 – 45%, and Tier 3 – 20%
• By Designation: C Level – 25%, D Level – 30%, and Others* – 45%
• By Region: North America – 22%, Europe – 27%, Asia Pacific – 33% and RoW** – 18%,
*Others include sales managers, marketing managers, and product managers.
RoW** includes South America and the Middle East & Africa.
Leading players profiled in this report:
• Lummus Corp
• Nipha Exports Private Limited
• Bajaj Steel Industries Limited
• Shandong Swan Cotton Industrial Machinery Stock
• Cherokee Fabrication
• Mitsun Engineering
• Balkan Group of Companies
• Bhagwati Engineering Works
• Karunanand Hydropneumatic Controls (P)
• Samuel Jackson
• Rieter
• Toyota Industries
• Camozzi Group
Research Coverage:
The report segments the cotton processing market on the basis of product type, application, equipment, operation and region. In terms of insights, this report has focused on various levels of analyses—competitive landscape, end-use analysis, and company profiles—which together comprise and discuss views on the emerging & high-growth segments of the global cotton processing, high-growth regions, countries, government initiatives, drivers, restraints, opportunities, and challenges.
Reasons to buy this report:
• To get a comprehensive overview of the cotton processing market
• To gain wide-ranging information about the top players in this industry, their product portfolios, and the key strategies adopted by them
• To gain insights on the major countries/regions in which cotton processing is gaining popularity
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