The global cotton spinning market size was valued 15 Billion in 2020 and is projected to register a CAGR of 4.1% during the forecast period, 2021-2028. The growth of the market is attributed to rising disposable income and rapid innovation in the fashion industry.
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The cotton processing industry includes machinery that converts raw cotton into forms that are utilized by medical and textile industries. In recent years, the production of textiles for both apparel and non-apparel use has increased globally. Cotton spinning machines spin or process the cotton or extracted fibers into the yarn or thread. The process of converting the cotton into yarn is called spinning.
Market Drivers, Restraints, Trends, and Opportunities
- Rising usage of cotton yarn in various industries is driving the growth of the market.
- Growing population and urbanization has led to the increasing demand for high-quality cotton, driving the market growth.
- The COVID-19 disrupted the textile industry owing to the closedown of the manufacturing facilities. However, the relaxation in restriction has dampened the negatively impact on supply chain, recovering the growth of the market.
- Ongoing technological innovations in the manufacturing process is expected to positively influence the market growth in the projected timeline.
Cotton Spinning Market Insights
Ring spun segment to account a significant market share
Based on types, the market is segmented into ring spun, OE/rotor spun, core spun, air jet spun, frictional spun, and others. The ring spun segment is anticipated to account for a significant market share during the forecast period. On the other hand, the OE/rotor spun segment is expected to grow at a healthy rate in the projected timeline.
Apparels segment to grow at a steady rate
In terms of end-users, the global cotton spinning market is divided into apparels, home fashion, medical, and others.
Asia Pacific to dominate the market share
On the basis of regions, the market is categorized as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific is expected to dominate the market during the forecast period. Some factors influencing the dominance of the region includes growing textile industry in emerging economies, such as China, India, Bangladesh, and Pakistan. The countries in the region have favorable climatic conditions for cotton production. This encourages cotton processors to invest in the cotton processing market in this region. Further, the rising awareness and hygiene concerns among consumers have given rise to the increasing use of processed cotton in hospitals and medical applications.
Competitive Landscape
The major players of the market are Lummus Corp, Nipha exports Pvt Ltd, Bajaj Group of Companies Shandong Swan Cotton Industrial Machinery Stock Co., and Cherokee Fabrication.
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Spinning is one of the significant segments of the textile industry, and the machinery designed for the spinning process helps spin fibers into workable yarn or thread.
Spinning machinery is used for manufacturing clothing or textile that have various industrial applications.
The rise in the demand and sale of garments, increasing adoption of automation system for spinning machinery, and growing focus on enhancing the safety and efficiency of the spinning machinery are factors that are set to drive the growth of the market.Strict industry regulations, lack of skilled professionals, and the high initial prices and maintenance costs associated with spinning machinery is expected to hamper the market growth during the forecast period.
However, the growing use of loT for monitoring machine condition, technological advancement in spinning machinery, changing fashion trends, and developing economies in emerging countries create ample opportunities for the expansion and growth of this market.Market Research AnalysisIn terms of region, the global market for spinning machinery is segmented into– North America, Europe, Asia-Pacific, and the rest of the world.
Asia-Pacific is expected to hold the largest share in the global Cotton-spinning machinery market throughout the forecast period owing to the increase in foreign investments in manufacturing plants and growing home and automobile textile market are expected to increase the demand and sale of spinning machinery.Moreover, the presence of emerging economies, such as China and India, is also contributing to the market growth in the region.
The growing demand for sophisticated machines that produce high-quality cloth with fewer knots and developing product service industry in the US and Canada are expected to support the growth of the market during the forecast period.The Cotton-spinning machinery market in Europe is expected to witness significant growth due to the presence of many developed nations and their willingness to adopt new technologies.
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