The Global Rubber Gloves market is expected to grow at a CAGR of 8.5% between 2014 and 2022. The factors such as rising healthcare expenditure, increasing health threats and increasing hygiene awareness and healthcare regulations are driving the market growth.
Foreign exchange risks, rising raw material costs and pricing competition are hampering the market growth. The challenges of the market are to strengthen Dollar and reduce crude oil prices, industry consolidation and combined expansion plans of rubber gloves companies.
The US represents the largest market for gloves, though Asian markets are the fastest growing. Consumption of rubber gloves to increase in Asia, particularly in India, Pakistan and China as healthcare awareness becomes crucial, while growth in other regions like United States and Europe would continue to boost exports as well.
The industry is currently entering a technology transformation and most of the plants are highly automated and are less labor intensive. However, electricity, gas and water still remain the main challenges for the industry aside from the dip in the average selling price of both natural and synthetic rubber (SR) gloves.
The key players in the Rubber Gloves market include Hartalega Holdings Berhad, Kossan Rubber Industries, Supermax Corporation Berhad, Top Glove Corporation, CLEANWRAP Co. Ltd, Frank Healthcare Co. Ltd, AYA Union Co. Ltd, Jinjiang Jiaxing Groups Co. Ltd, PKJ Group Houseware and Shanghai Neo-Medical Co. Ltd.