Export revenue from rubber gloves to hit RM14.3bil this year

Export revenue from rubber gloves is expected to reach a record high of RM14.3bil this year, up 14%, from RM13.1bil 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% of world market share, said president Dennis Low.

In the first quarter, revenue from Malaysia's rubber glove exports hit RM3.2bil and moving forward, it could reach as high as RM4bil 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%," he said at a press conference on Friday.

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 Sept 6-8 at the Kuala Lumpur Convention Centre.

"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% for this year, followed by China (5%) and Indonesia (3%). - Bernama