KUALA LUMPUR: The export value of Malaysian rubber gloves this year is expected to surpass RM11.8 billion registered in 2023, Deputy Plantation and Commodities Minister Chan Foong Hin said.
From January to June this year, he said, the total rubber glove export value is at RM6.8 billion, showing an exponential growth trend.
“We are seeing an encouraging growth trend in our domestic rubber glove industry. The government, together with related agencies, stakeholders and industry players, are working together to address challenges and spur growth for the industry and achieve higher global export market share,” Chan told reporters at the 11th International Rubber Glove Conference & Exhibition 2024 (IRGCE 2024) today.
Plantation and Commodities Minister Datuk Johari Abdul Ghani said in his speech, which was read out by Chan, that Malaysia has been the world’s leading manufacturer of rubber gloves for decades.
“Last year, our rubber glove industry captured a significant 45% of the global market share. This equates to billions of dollars in export revenue annually, contributing substantially to Malaysia’s GDP (gross domestic product). This year, the industry is anticipated to contribute up to RM12.4 billion.”
“The government is supportive of the industry’s continued growth. We recognise the extensive economic benefits it generates, from upstream cultivation to downstream manufacturing, positively affecting the entire economic ecosystem,” Johari said.
Looking ahead, he said it is crucial for the Malaysian rubber glove industry to embrace sustainability. “We have already seen numerous sustainable practices within the industry, including developing eco-friendly gloves, water conservation initiatives, and investments in renewable energy.”
Malaysian Rubber Glove Manufacturers Association (Margma) Oon Kim Hung said Malaysia’s rubber glove industry is a cornerstone of the economy, accounting for more than 60% of rubber product exports.
He added: “2023 was undoubtedly a trying year for our industry players, having faced challenges from the collapse of the average selling price to geopolitical uncertainties. However, we have emerged stronger, with export figures indicating our industry’s resilience.”
IRGCE 2024 is organised by Margma and co-hosted by Malaysian Rubber Council. More than 20 countries and about 12,000 participants are attending this year’s event. Delegates and visitors are expected to engage in discussions and knowledge sharing on the rubber gloves industry environment, fostering collaboration and driving progress for the sector.
