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ASP for nitrile gloves to grow 30% in October and 15% in November, says Top Glove

Oct 2, 2020

A staff at work at Top Glove's Setia Alam manufacturing site. (File photo by Bloomberg)

 
KUALA LUMPUR (Sept 17): Top Glove Corp Bhd has guided that the average selling price (ASP) for its nitrile gloves will increase by 30% in October, 15% in November and perhaps another 10% after November, as outlook for the group and the glove industry remains promising.
 
As of this month, the group's ASP for nitrile gloves stands at US$70 per 1,000 pieces. Nitrile gloves production occupied almost 60% of the total group's production, while the remainder comprised latex and vinyl gloves.
 
Top Glove chairman Tan Sri Lim Wee Chai further guided that the increase in the ASP of gloves due to the virus-driven demand surge should last for at least another year, due to the shortage of raw materials, in particular for nitrile gloves. 
 
The group's ASP for nitrile gloves in its fourth quarter ended Aug 31, 2020 (4QFY20) has more than doubled (103%) from 3QFY20, while on a year-to-year basis, it has increased by 114%. The ASP for nitrile gloves for FY20 as a whole is up 31% from FY19's.
 
Lim said glove demand is estimated to grow by 20% per annum in 2020, 25% in 2021 and 15% in 2022, compared with the 10% annual growth seen before the pandemic outbreak.
 
The group also echoed what its peer Hartalega Holdings Bhd said previously, that the surge in global demand — anticipated to be 200 billion pieces by 2022 — will outstrip the estimated new supply coming in from major manufacturers in Malaysia. Read: Glove supply will not meet demand in next three years, says Hartalega chairman
 
“If you want to build a nitrile latex raw material factory, it may take two to three years. To build a glove factory, it may take one to two years. So, it means supply will not be able to increase so fast to meet demand,’ Lim explained.
 
And notwithstanding news of several promising vaccines in the pipeline, Top Glove expects glove demand to remain strong, as vaccines take time to produce.
 
M&A not likely but not impossible
Lim, meanwhile, said it makes more sense for the world's largest rubber glove manufacturer to grow its business organically now, rather than via mergers and acquisitions (M&A), as the latter tend to be more expensive as the industry is now doing well.
 
“For merger and acquisition (M&A) during good times, the selling price of a glove factory or company will be high. So the chances of M&A is not so likely... Investors don't like to pay very high prices to acquire a glove company, as we can build our own at a much lower cost, and with newer machines,” Lim told a virtual press conference held in conjunction with the announcement of the group’s latest quarterly and annual results.
 
Having said that, Lim said the group does not discount the possibility of engaging in M&A activities, given its strong balance sheet, with a net cash of RM2.34 billion as at Aug 31.
 
“There’s always a possibility...less chance (of something happening) doesn't mean no chance at all...So, we need to stand by some money for acquisitions,” he added.
 
The group has also earmarked RM8 billion for the next six years, from FY21 to FY26, to increase its annual glove production capacity by 100 billion pieces — up from its current 85.5 billion pieces per annum.





* information from : https://www.theedgemarkets.com/article/asp-nitrile-gloves-grow-30-october-and-15-november-says-top-glove

Brokers Peddle Fake Medical Gloves Amid Coronavirus Shortages

Sep 28, 2020
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Hartalega to increase installed capacity to 44bil gloves

Sep 23, 2020
Hartalega Holdings Bhd has commissioned four production lines at Plant 6 of its Next Generation Integrated Glove Manufacturing Complex (NGC) to accelerate its production capacity. NST file pix



KUALA LUMPUR: Hartalega Holdings Bhd has commissioned four production lines at Plant 6 of its Next Generation Integrated Glove Manufacturing Complex (NGC) to accelerate its production capacity.
 
The company said construction of the remaining lines is in the pipeline, with the construction of Plant 7 of the NGC also targeted to commence in late 2020.
 
''Upon completion by the 2022 financial year, our annual installed capacity will increase to 44 billion pieces,'' executive chairman Kuan Kam Hon said in the company's 2020 annual report.
 
The rubber glove maker also aims to optimise the integration of technological solutions including Industry 4.0 within its business processes and operations.




* Information from : https://www.nst.com.my/business/2020/09/622961/hartalega-increase-installed-capacity-44bil-gloves

Malaysia's glove makers struggle to meet booming demand

Sep 23, 2020
With no end in sight to the coronavirus pandemic, worldwide demand for surgical gloves – as for other types of personal protective equipment – is booming, leaving manufacturers struggling to keep up. - NSTP / FAIZ ANUAR


PARIS: With no end in sight to the coronavirus pandemic, worldwide demand for surgical gloves – as for other types of personal protective equipment – is booming, leaving manufacturers struggling to keep up.
 
The global PPE market – from masks, gowns and gloves, to shoes and sanitising gels – is expected to balloon from US$52 billion in 2019 to US$93 billion in 2027, according to German market data specialist, Statista.
 
And, like other such products that were previously predominantly the domain of specialist medical personnel, the surgical glove has become much sought after even by the general public.
 
US-based Allied Market Research estimates that the global disposable gloves market amounted to US$6.8 billion in 2019, and is expected to nearly triple to US$18.8 billion by 2027.



* information from : https://www.nst.com.my/world/world/2020/09/622064/malaysias-glove-makers-struggle-meet-booming-demand

World¡¯s Top Rubber Grower Challenges Malaysia¡¯s Glove Dominance

Sep 23, 2020
Thailand, the world’s largest natural rubber supplier, is ramping up domestic production of gloves with the coronavirus outbreak fueling a global shortage.
 
About 80% of Thailand’s rubber has traditionally been exported for further processing, with tiremakers normally the biggest customers. But with the pandemic driving up demand for gloves, Thailand can easily double its market share to 26% next year, according to Boon Vanasin, a local hospital tycoon setting up a 20-billion gloves facility.
 
While Malaysian firms were quick to ramp up glove production, often using nitrile, a synthetic compound, Thailand was slower to make the pivot to local manufacturing. Now the state-owned Rubber Authority of Thailand is nudging companies to boost glove production to take advantage of the nation’s abundant supply of natural rubber.
 



“We want to be the world’s number one natural rubber glove producer,” Rubber Authority Governor Nakorn Takkavirapat said in an interview. “There’s a lot of opportunities for us because the Asian glove market has the biggest growth potential, and we supply the majority of natural rubber to the world.”
 
Thailand produces about 4.8 million metric tons of natural rubber annually, far ahead of Indonesia, Vietnam and Malaysia.
 
Doubling Capacity
Boon, who is chairman of Thonburi Healthcare Group Pcl, estimates global gloves demand at 400 billion to 600 billion pieces annually with current supplies only about half of that. And Thai rubber industry is already accelerating glove production capacity to meet the rising demand.
 
Sri Trang Gloves Pcl, the country’s biggest glovemaker plans to more than double its capacity to 70 billion by 2026. By 2032, it plans to churn out 100 billion gloves annually.





* information from : https://www.bloomberg.com/news/articles/2020-08-27/world-s-top-rubber-grower-challenges-malaysia-s-glove-dominance

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Jun 25, 2020
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Jun 6, 2020
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10th IRGCE International Rubber Glove Conference & Exhibition

May 20, 2020
10th IRGCE International Rubber Glove Conference & Exhibition
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THE ORGANIZER

The Malaysian Rubber Glove Manufacturers Association (MARGMA) was established on 28 June 1989 to represent the rubber glove manufacturers and supporting industries associated with the rubber glove manufacturing industry in Malaysia.

 
MARGMA Ordinary Members comprise of bona fide rubber glove manufacturers based in Malaysia. MARGMA Associate Members comprise of local and foreign companies associated with the rubber glove industry.
 
Since its inception, MARGMA has been the official voice and active advocate for the rubber glove industry in Malaysia. MARGMA provides a common platform for discussion and exchange of views aimed at furthering the commercial objectives of its members and promoting a solid trade fraternity amongst them.
 
MARGMA collaborates closely with key Malaysian government agencies and related ASEAN trade associations to promote and protect the interests of its members and the industry. MARGMA also assists its members in addressing domestic and international issues related to their businesses and the industry.
 
MARGMA is administered by a panel of elected Management Committee with the support of a strong Secretariat in its day-to-day operations.
 

 

“ World’s Largest Rubber Glove Event ”

THE EVENT 

With the outstanding success of the 9th International Rubber Glove Conference and Exhibition (IRGCE) in 2018, MARGMA has continued to reaffirm the status of its flagship event as the “World’s Largest Rubber Glove Event”. With the 10th edition of the IRGCE set to return bigger and better from 8 – 10 September 2020, this show is definitely a must-attend affair for all, be it the Rubber Glove Industry or its supporting industries.


With the aim of bridging the gap among industry players and fortifying a greater exchange of ideas the International Rubber Glove Conference and Exhibition (IRGCE) was inaugurated in 2002 and has continued to build momentum biennially, alongside the industry, to be recognized as the premier platform for all relevant parties to come together and work hand in glove.


The 10th IRGCE 2020 is organized by MARGMA and co-hosted by the Malaysian Export Promotion Council (MREPC), in association with the Thai Rubber Glove Manufacturers Association (TRGMA) and the Indonesian Rubber Glove Manufacturers Association (IRGMA). The event is supported by the Ministry of Primary Industries (MPI), Ministry of International Trade and Industry (MITI), Malaysian Rubber Board (MRB), Malaysia External Trade Development Corporation (MATRADE) and Malaysia Digital Economy Corporation (MDEC).


For further information on this event, download the 10th IRGCE 2020 Brochure.


THE CONFERENCE
The IRGCE would not be complete without its trademark conference which looks to feature the very latest innovations and developments and trends within the rubber, rubber glove and medical devices industries. After two decades, the IRGCE Conference continues to thrive as the principal platform for industry opinion leaders and professionals to discuss topics of common interest.


As the 10th IRGCE 2020 is set once again to push the boundaries and outdo itself, there will not be a lack of accredited papers being featured and presented by various internationally renowned speakers on the trendsetting topics of today and tomorrow.


Invitations are NOW OPEN for submissions of conference papers with regards to the subject categories. For further information, kindly download the brochure here.


UPDATE: Submissions of Conference Paper Abstracts have been extended till 31st MARCH 2020.
THE EXHIBITION
ENTRANCE TO THE EXHIBITION HALLS IS FREE.


As of 11 February 2020,  164 companies from 13 countries have confirmed their participation in the exhibition. Visitors can expect an exciting showcase of the latest product innovations and technologies not only from the Rubber Glove Manufacturers but the wide array of supporting industries as well. The exhibition is the perfect place to discover everything en-vogue for rubber gloves while potentially discovering avenues which would help you stay ahead of the competition.

The following are more details of the exhibitors.


EXHIBITORS PROFILE BY COUNTRY
Country - No of Exhibitors

  • China -37

  • Germany -1

  • India - 5

  • Indonesia - 1

  • Japan - 1

  • Malaysia - 103

  • Poland - 1

  • Sri Lanka - 2

  • Switzerland - 1

  • Taiwan - 3

  • Thailand - 5

  • United Kingdom - 3

  • Vietnam - 1


*Total Exhibitors: - 164


 

* information from http://www.margma.com.my/10th-international-rubber-glove-conference-and-exhibition-2020/, for more details please refer to :
http://www.margma.com.my *

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