KUALA LUMPUR: The rubber glove industry is expected to contribute up to RM12.4 billion in export revenue this year, according to the Deputy Plantation and Commodities Minister Datuk Chan Foong Hin.
He said Malaysia exported rubber gloves valued at over RM11.8 billion in 2023, securing 45 per cent of the global market share.
He added that during the first half of 2024 (1H24), the rubber glove industry trade increased to RM6.8 billion, compared to RM5.8 billion in the same period of 2023.
"The industry has demonstrated remarkable resilience and adaptability, in response to one of the most significant global events in recent history. "During the Covid-19 pandemic, as demand for gloves surged, Malaysia was well-positioned to support medical professionals around the globe. "This success is not merely a matter of circumstance but a testament to the commitment and innovation of our Malaysian manufacturers, who export to an impressive 195 countries worldwide," he said at the 11th International Rubber Glove Conference & Exhibition (IRGCE 2024) here today.
Chan said the consumption rate for rubber gloves is projected to rise by approximately six to eight per cent annually.
He said today, rubber gloves have evolved from being merely personal protective equipment in the healthcare sector to becoming essential across various non-healthcare industries, including semiconductor cleanrooms and everyday household use.
"Malaysia remains at the epicentre of this growth, driving innovation and meeting the world's increasing demand for this crucial product," he said.
Nevertheless, Chan said it is also important to address existing challenges in the industry, such as the volatility of rubber prices, along with emerging issues like untapped areas and plant diseases, which have deeply affected the production and yield of raw rubber.
He added that his ministry is committed to addressing this issue by leveraging technological advancements and research to enhance productivity, quality, and global competitiveness.
"We are confident that our new commercially driven model will significantly increase the country's rubber yield, optimise plantation and labour management, and ultimately improve the income of rubber smallholders," he said.
Chan commended the Malaysian rubber glove industry for embracing sustainable practices within the industry, including the development of eco-friendly gloves, water conservation initiatives, and investments in renewable energy and called for further action.