KUALA LUMPUR – The Plantation Industries and Commodities Ministry is optimistic that Malaysia will be able to achieve RM23.6 billion in rubber glove export revenue this year.
The Malaysian Rubber Glove Manufacturers Association (Margma), in its Industry Brief 2022 released today, projected that Malaysia’s rubber gloves export revenue is expected to reach RM23.6 billion this year, compared with RM17 billion in 2019, and the year-on-year demand growth rate for rubber gloves is 10% to 12% in 2022.
“Under normal circumstances, we did not take into consideration the two years of Covid-19 during which the export of rubber gloves soared.
“So this projection is very conservative and I believe we can do better than that. Margma has also identified new countries that we can penetrate by ensuring that our rubber gloves are still in high demand,” said Plantation Industries and Commodities Minister Datuk Zuraida Kamaruddin.
The minister said this at a press conference after witnessing a memorandum of understanding signing ceremony between Margma, the Malaysian Rubber Council, and 18 major sponsors of the upcoming 10th International Rubber Glove Conference and Exhibition (IRGCE).
The IRGCE will be held at the Kuala Lumpur Convention Centre from September 6 to 8, 2022.
Zuraida also said that the need to use rubber gloves, following a global increase in hygiene culture, will simultaneously increase demand in the rubber glove market.
“Margma has projected that the use of rubber gloves in the post-pandemic era is expected to increase by 10%.
“I am positive and optimistic because the culture of hygiene has been adopted by people all over the world, so the need to use rubber gloves as a way of life shows that we are a clean society and this will increase the demand for rubber gloves in the market,” she said.
Meanwhile, Margma president Supramaniam Shanmugam said that the industry players are navigating through a challenging time dealing with multiple dynamics with global risks, including the prolonged Russia-Ukraine war.
“The association is, nevertheless, confident the industry will see a demand growth of 10 to 12% in 2022.
“As a consequence of increased global healthcare awareness and enhanced regulatory requirements, such demand will grow by 12 to 15% in 2023,” he said.
The global demand for gloves is estimated at 399 billion in 2022, and Malaysia is estimated to produce 240 billion gloves in 2022, according to Margma’s report.
“Malaysian rubber glove players, given their experience and long establishment, will be able to overcome these challenges, but for Malaysia to maintain its leading trade position as the world’s number one exporter of rubber gloves, there is room for improvement in the government’s business-friendly policies that can be favourable to manufacturers.
“The Malaysian rubber glove industry will work closely with all stakeholders to strive to be amongst the first industries in the region to have social compliance as the industry’s unique selling proposition,” he said. – Bernama, August 3, 2022
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