What is the projected global market share for Malaysian rubber gloves?

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Malaysia's Projected Global Rubber Glove Market Share in 2020

Economists project that Malaysia will control 65 per cent of the global rubber glove market in 2020. This represents a 3.0 per cent increase from the current market share of 62 per cent. The anticipated rise in market dominance is expected to generate an additional RM3 billion in income for Malaysia.
Increased Market Dominance

The global demand for healthcare products, particularly rubber gloves, has surged due to the Covid-19 pandemic. This heightened demand is a primary driver behind the projected increase in Malaysia's market share. Manufacturers like Top Glove, Rubberex Corp, and Hartalega have seen significant gains on Bursa Malaysia, reflecting this growing demand.
Economic Impact and Industry Contribution

This expansion in market share is estimated to translate into RM3 billion in additional income for the country. The rubber glove sector is poised to be a significant contributor to the Malaysian rubber industry, with projections indicating growth between five per cent and 25 per cent for the year. In 2019, the sector already contributed RM17 billion to the industry.
Context of Rubber Prices

The Malaysian Rubber Board (MRB) has noted that the rubber glove sector is expected to act as a crucial support for the Malaysian rubber industry, especially amidst currently low rubber prices. Historically, rubber prices have fluctuated, and the industry is currently in a down cycle, with prices falling from RM3.00 per kilogramme a few years ago to RM1.70 per kilogramme. This situation has created challenges for individuals involved in the rubber industry, such as rubber tappers and smallholders.

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What is the projected global market share for Malaysian rubber gloves?

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