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Global Rubber Gloves Â鶹ԭ´´Ìý

The global Rubber Gloves market size was 11.34 billion in 2021 and is expected to reach USD 20.21 billion in 2028, growing at a CAGR of 8.6% over the analysis period.ÌýBoth the demand and Average Selling Price (ASP) of gloves were at their peak in Q1 of calendar years 2021. Anxious buying and successful rollout of COVID-19 measures such as vaccination drive in Asia, Europe, and the US have lessened the demand for gloves, which continued to remain moderate and are expected to normalize by mid-2022.

Global Rubber Gloves Â鶹ԭ´´ÌýDrivers

• In the long term, the gloves industry is optimistic that the demand for rubber gloves may continue to increase due to various positive factors such as -
• Increasing population
• An increasing number of countries implementing stricter health regulations
• Increased health and hygiene awareness, lack of alternatives to disposable gloves.
• There is visible growth potential in big and growing economies such as India and China, where per capita spending on healthcare is still way behind developed countries.

Global Rubber Gloves Â鶹ԭ´´ÌýTrends

• The gradual shift in demand from nitrile gloves to natural rubber gloves, following the rise in COVID cases in emerging markets where natural rubber gloves are preferred.
• With gloves being very versatile in nature, other industries, such as food and beverages, biotechnology, etc., have adopted gloves.Ìý
• The emerging 5G technology, AI and IoT have driven the gloves' demand for the research and development industry and electronics. To meet the increasing needs, glove manufacturers have turned to automation. Â鶹ԭ´´ leaders spend a lot in R&D and cutting-edge technologies for smooth manufacturing, packaging, and delivery.
• Governments have also mandated stricter occupational safety regulations, requiring corporations to provide safer work environments for their workers.

Global Rubber Gloves Â鶹ԭ´´ÌýLeaders

1. Top Glove Corporation Berhad
2. Supermax Corporation Berhad
3. Hartalega Holdings Berhad
4. Kossan Rubber Industries Berhad

1. The world’s largest gloves maker Top Glove Corporation Berhad's revenue for the FY2021 amounted to RM16.36 billion, soaring 126% from FY2020. Profit After Tax (PAT) also grew to RM7.82 billion, a 337% jump compared with the previous financial year.
2. The Supermax Corporation Berhad's Sales Revenue rose 236% to RM7.16 billion in FY2021. Currently, Supermax has a production capacity of about 26.0 billion pieces of gloves per annum. The Group had embarked on an ambitious program to build 5 plants (plants #13 - #17) simultaneously which was expected to progressively add about 10 billion pieces to installed capacity in the calendar year 2021 and another 12 billion pieces in 2022.
3. Hartalega Holdings Berhad's revenue for the FY2021 more than doubled to RM6.7 billion from RM2.9 billion previously. The company has commissioned eight out of 10 lines of Plant 7, which will contribute 2.7 billion pieces of gloves per annum after completion.
4. The Kossan Rubber Industries Bhd recorded revenue of RM6.66 billion in FY2021, an increase of 82.97% as compared with RM3.64 billion in FY2020 due to higher revenue from all three divisions.

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