Cotton Processing Market to Hit $72.6 billion by 2023

The increase in demand in the textile industry, adoption of cottonseed meal as feed for ruminants, and the rising number of surgeries and operations have been propelling the consumption of cotton, leading to the rising demand for cotton processing globally. The market for cotton processing is estimated at USD 59.7 billion in 2018 and is projected to grow at a CAGR of 4.0% from 2018 to 2023, to reach USD 72.6 billion by 2023.

Cotton lint is widely used for manufacturing different types of surgical bandages, apparels, and household textiles. Over the years, 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 further.

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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.

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. With the increasing demand for cotton in textile and medical & surgical applications, the demand for spinning is projected to remain high globally.

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Cotton processors are increasingly focusing their attention on achieving low production costs, rapid turnaround time, and higher yields. This is facilitated by incorporating advanced automated technologies. Fully automated processing plants contribute to reduced labor costs and help in achieving operational efficiencies.

Key players are 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).

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