According to foreign media on July 20, the Malaysian Glove Manufacturers Association said on Monday that even after the new crown pneumonia epidemic, the rubber glove industry is expected to grow at a faster rate, although the rate may be lower than the current level.
The Malaysian Rubber Glove Manufacturers Association (MARGMA) estimates that, driven by expected demand, the output of rubber gloves after the epidemic will increase by 17% annually, which is higher than the 12-15% level before the epidemic. In 2020, the output of rubber gloves will increase by 20% to 220 billion, accounting for about 67% of the global market share.
Supramaniam Shanmugam, vice president of the association, said that although the growth rate may not reflect the current level, it will be better than before the epidemic. Although the United States recently imposed restrictions on Top Glove, it will not put pressure on industry growth estimates.
Last week, US Customs added two subsidiaries of Top Glove to the "blacklist" for forced labor. However, the company said that if the cargo shipped to the United States is returned, it will be easily accepted by other countries.
Top Glove is the world's largest manufacturer of medical gloves. The company is in contact with the US authorities and hopes to find a solution within a month.
Supramaniam also stated that the association will support Top Glove and is ready to provide support if necessary.
99.6% of the gloves produced in Malaysia are exported. The United States is its largest export market, accounting for 36.3% of the total exports from January to March.