Kuala Lumpur, Malaysia – Bernama reports that “Export revenue from rubber gloves is expected to reach a record high of RM 14.3 billion this year, up 14 percent, from RM 13.1 billion achieved last year, says the Malaysian Rubber Glove Manufacturers Association (MARGMA).
Malaysia maintained the world’s number one rubber glove producer with 133.6 billion gloves estimated to be produced this year, commanding an estimated 63 percent of world market share, said president Dennis Low. In the first quarter, revenue from Malaysia’s rubber glove exports hit RM 3.2 billion, and moving forward, it could reach as high as RM 4 billion per quarter. “The global demand for rubber gloves is still strong, driven by the healthcare sectors. Estimated global demand this year is 212.2 billion gloves, which means 6,728 gloves are used every second. “We expect the industry to remain resilient with annual growth estimated at least between eight and 10 percent,” he said.
Earlier, Low witnessed the signing of a memorandum of understanding between MARGMA, the Malaysian Rubber Export Promotion Council and major partners/exhibitors, for the 8th International Rubber Glove Conference and Exhibition, scheduled for September 6-8 at the Kuala Lumpur Convention Center. “The world economy is not so good but the maturity of the players will ensure the industry will sail smoothly despite the challenges. Healthy competition among us is good. We are more concern about external competitors,” said Low. Thailand ranked second as a global glove producer with an estimated market share of 21 percent for this year, followed by China (5 percent) and Indonesia (3 percent).”