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. Globally, the increasing demand in the textile industry and adoption of cottonseed meal as feed for ruminants have been driving the demand for cotton processing. Key players that have a strong presence in the 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), and Cherokee Fabrication (US). These market players adopted growth strategies such as expansions & investments, collaborations, agreements, and new products launches to cater to the increasing demand for cotton processing globally. Major players are mainly focusing on undertaking expansions & investments for innovating and developing research centers to meet the growing requirements of consumers, in terms of sales and distribution.
The core strength of key players identified in this market is their growth strategies such as expansions & investments. Undertaking expansions have enabled the market players to enhance their presence in the cotton processing market. Key players in the cotton processing market include Shandong Swan Cotton Industrial Machinery Stock Co., Ltd. (China) and Rieter (Switzerland). These companies maintained their positions in the market through strategic developments. These players have broad industry coverage and strong operational and financial strength. They have grown organically and inorganically in the recent past.
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Lummus Corp is one of the cotton processing companies involved in the manufacturing and supplying of cotton ginning equipment. The company is involved in the production of cotton processing equipment to cater to the textile industry as well as the oilseed industry. The company markets its products across more than 100 countries globally. It has a manufacturing facility in the US; it has sales offices and warehouses in Arkansas, Texas, California, Tennessee, and Arizona. The company has a patent of Slingoff principle, which is implemented in various products it offers; this strengthens its product portfolio. The company looks forward to expanding itself in various countries such as Australia, Brazil, and China, through its subsidiaries.
Shandong Swan Cotton Industrial Machinery Stock is involved in the manufacturing of machine-picked cotton processing equipment. The company also successfully passed the ISO 9001 quality system authentication in China and received international quality approval certificates. Globally, the company exports its products in 34 countries and has three technical innovation centers and a manufacturing base. The company also has various advanced equipment such as welding robots, CNC laser cutting center, and CNC flexible machining center to support its manufacturing facilities for better productivity. It also focuses on penetrating more in China, the US, and Holland to expand its business in the global market. In 2013, Shandong Swan shifted its headquarters to Jinan Yaoshan Industrial Park for better operation administration of the company, as this would increase its efficiency to connect with its other subsidiaries. The company has been increasingly gaining market share in the cotton processing market by offering competitive solutions for cotton processors.
Cotton Processing Market by Product (Lint, Cottonseed), Application (Textiles, Medical & surgical, Feed, Consumer goods), Equipment [Ginning (Saw, Roller), Spinning], Operation (Automatic, Semi-automatic), and Region – Global Forecast to 2023
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