COVID-19 Has Increased the Global Latex Gloves Market demand
May 16 , 2022
The United States, the European Union, Japan and other countries are the main consumer markets for medical gloves. Employees in medical care, food, cleaning and other industries use medical gloves as disposable sanitary products based on usage habits and legal requirements, and even medical gloves in the United States. Gloves are almost entirely imported.
In 2019, the global per capita consumption of medical gloves was 33, the Netherlands was 276, the United States was 250, and Japan was 108, while the per capita consumption of China and India was only 6 or 10, which was lower than the global average and much lower than Europe, the United States and Japan.
According to research statistics, in 2019, the global sales of medical gloves was 327.6 billion pieces, with a compound annual growth rate of 12.6%, and the market size was about 131 billion yuan. Due to the impact of the new crown epidemic, it is expected that the global market capacity of medical gloves will exceed 500 billion in 2020, and the market size will exceed 200 billion yuan.
From the perspective of industrial distribution, the production of nitrile and natural rubber gloves is mainly concentrated in Southeast Asian countries such as Malaysia and Thailand. In 2019, the export volume of Malay gloves was about 206.3 billion pieces (129 billion pieces of nitrile gloves and 77 billion pieces of natural rubber gloves), accounting for about 63% of the global market; while China is the global production base of PVC medical gloves, and nearly The annual production capacity is gradually increasing.
Sri Trang is the largest latex glove manufacturer in Thailand. In 2020, the company's net profit increased by as much as 6418%, and the fourth quarter net profit increased by 7331%. The general manager of the company said that many countries are currently vaccinating their citizens, but it does not mean that the epidemic can be controlled immediately. Before the effect of herd immunity, latex gloves are one of the necessities of epidemic prevention. The company plans to invest 44 billion baht over the next six years to increase production of latex gloves to 100 billion pieces by 2026. (Source: Thailand World Daily)
The Thai Latex Glove Manufacturers Association pointed out that before the new crown epidemic, the global demand for latex gloves increased by 10% annually, while the global latex glove market demand in 2020 will grow by more than 20%, and it is predicted that the growth rate this year will not be less than 10%.
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