Malaysian Rubber Glove Manufacturers Association president Oon Kim Hung told SunBiz that Malaysia should see demand for rubber gloves returning with some members already anticipating order shipments from their US customers to accelerate from the end of next month.
“In 2023 until the middle of 2024, our industry was challenged by global overstocking of gloves and the collapse of the ASP. Coupled with heavy competition from the region, particularly China, Malaysian manufacturers struggled but still managed to perform fairly.”
Oon said the oversupply situation is tapering off and ASP have seen improvement.
“Additionally, the US tariff on China that has come into effect since this January this year should have some impact on global trade as well as our export trade. Market direction for 2025 will continue to be dictated by developments surrounding global geopolitical tension, particularly in the Middle East, as well as the economic policies of the US under Trump administration,” he added.
Source: The Sun
