The Malaysian Rubber Glove Manufacturers Association (MARGMA) expects export revenue from the rubber gloves industry to hit RM20.68 billion in 2020. Its president Denis Low said the sentiment was based on the higher global demand with Asia and Africa emerging as the next biggest growth for Malaysia’s rubber gloves industry.
He said global demand for rubber gloves is estimated to reach 300 billion gloves this year, with an expected annual growth of 12 per cent. Of this total volume, 188 billion gloves will be produced by Malaysia which is the world’s largest producer and the leading exporter of rubber gloves, contributing 63 per cent of the global supply.
He noted that for the period January to August 2019, the industry recorded a total export of RM11.30 billion, a decrease of 2.4 per cent compared to RM11.58 billion for the same period in 2018. However, he explained that this is cyclical and that the industry will export more and at higher prices in the months of November and December due to the spike in year-end demand and low inventory among buyers.