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Global rubber gloves market to see demand shift, says a 2014 research report
MarketReportsOnline.com has added the 67-page research report: 'Global Rubber Gloves Market Report: 2014 Edition', to its store.
The report reveals that Malaysia retains its position as the world's largest supplier of rubber gloves, commanding over two-third of global market share, and that the US and Europe are the largest importers - especially of nitrile gloves.
It says that the demand for rubber gloves is mainly driven by improvement in healthcare, increasing awareness of hygiene, healthcare reforms with more stringent regulations following outbreak of diseases such as H1NI influenza and the Middle East respiratory syndrome coronavirus (MERS-CoV) in recent years. In addition, improvement in global economic growth, increasing healthcare spending, the escalating potential of emerging markets and growing non-traditional end-use industries are also expected to fuel the demand for rubber gloves.
Rubber gloves are primarily made from latex (natural rubber), which is the original conventional material used. Due to their elasticity and inexpensiveness, latex gloves dominated the rubber gloves market for a long time. However, the trend is shifting towards synthetic rubber, with nitrile gloves holding half of the global market now.
Rising awareness regarding latex allergies has led to increased innovation and technology breakthroughs in synthetic variants. The number of healthcare facilities going entirely latex-free continues to grow, as glove manufacturers work to create a synthetic product that matches the low cost and tactile sensitivity that have made natural rubber latex the long-time preference of customers.
Nitrile gloves are available in powdered and non-powdered forms for various medical and industrial applications.
The 'Global Rubber Gloves Market Report: 2014 Edition' research report warns that volatile raw material price, changing wage policies in Malaysia and currency fluctuations could hamper the growth of the rubber glove market. It says that glove manufacturers have started long term projects with buyers, which could reduce the financial losses that occur due to price fluctuations. Therefore, key players are planning new strategies, innovations and developments that could increase the demand for rubber gloves.
The market for rubber gloves is highly competitive with a 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 meet the increasing demand globally. Although the industry has maintained its growth momentum, the major bottlenecks are labour shortages, fluctuating NBR (nitrile rubber) prices, the imposition of the minimum wage by Malaysia and the hike in gas and tariffs.
The key factors driving the growth of the global rubber gloves industry include the ageing population, increasing healthcare expenditure, accelerating awareness of hygiene issue and healthcare reforms with more stringent regulations, the improvement in global economic growth and the increasing potential of emerging markets.
Some of the noteworthy trends and developments of this industry are the shifting demand from natural rubber gloves to synthetic rubber gloves, the fluctuating Malaysian Ringgit and the consolidation of the global industry.
The report includes a comprehensive analysis of the global rubber gloves industry along with the study of regional markets. It profiles the four major players of rubber gloves industry: Top Glove, Kossan, Supermax and Hartalega, and includes their key financials and strategies for growth.
28th August 2014