Malaysian firms face threat as China dips its hand into glove market

[superadmin]

PETALING JAYA: China could emerge as a major force in the global rubber gloves market and threaten the dominance of Malaysian companies in the long-term, said Kuan Mun Leong, CEO of Hartalega Holdings Bhd, one of Malaysia’s biggest glove producers.

Chinese glove makers are expected to contribute 23% of the total share of the world’s glove supply by next year, from an estimated 16% currently, based on their announced capacity expansion plans, Kuan said today.

Malaysia’s market share is expected to shrink to 60% by next year from 67% currently, he added.

The Chinese companies have been meeting rising demand from the US and Europe amid production disruptions caused by a flare-up of the Covid-19 pandemic in Malaysia, the world’s largest rubber glove supplier.

- More -