Over the past years, there has been a notable rise in the demand of gloves whenever there is an outbreak of flu or viral diseases. During and after such outbreaks, there is a sudden change in the demand for rubber gloves due to increased hygiene concerns. In addition, the demand for gloves from food industry and others services as those involved in the provision of spa facilities, manicure, pedicure, tattooing and hair styling services is also set to increase.
The market for rubber gloves is highly competitive with few large players dominating both global and regional markets. All these companies have rolled out their production plans to increase their capacities, supply better products and to meet the increasing demand globally. Although the industry has maintained its growth momentum, the major bottlenecks are labor shortage, fluctuating NBR prices, imposition of minimum wage by Malaysia and hike in gas and tariffs.
The key factors driving growth of the global rubber gloves industry include rising number of ageing population, increasing healthcare expenditure, accelerating awareness of hygiene and healthcare reforms with more stringent regulations, improvement in global economic growth, and increasing potential of emerging markets. Some of the noteworthy trends and developments of this industry are shifting demand from natural rubber glove to synthetic rubber glove, fluctuating Malaysian Ringgit and consolidation of the global industry.