Overview
Current rubber glove market statistics and forecasts explain the urge for new players in the industry in every aspect of the value chain, from raw materials suppliers to fulfillment partners, which is driven by the significant increase of the global market demand. Healthcache is convinced to play a crucial role in bridging this gap between demand and supply.
Pune, Aug. 18, 2020 (GLOBE NEWSWIRE) — The global PPE market size is projected to reach USD 92.86 billion by 2027, exhibiting a CAGR of 7.4% during the forecast period. Skyrocketing demand for PPE to protect frontline healthcare personnel from COVID-19 will surge the market growth during the current year, observes Fortune Business Insights™ in its new report, titled “Personal Protective Equipment (PPE) Market Size, Share & Industry Analysis By Product (Head Protection, Eye & Face Protection, Hearing Protection, Protective Clothing, Respiratory Protection, Fall Protection Protective Footwear, Hand Protection, and Others), By Application (Construction, Manufacturing, Oil & Gas, Chemical, Food, Pharmaceutical, Transportation, and Others) and Regional Forecast, 2020-2027”.
Source: Fortune Business Insights
As per earlier statistics and market expectations, MARGMA (Malaysian Rubber Glove Manufacturers Association) had projected the demand for rubber gloves to reach 300 billion pieces in 2020 with an annual growth of of 12%. However, the current outbreak of novel Covid-19 has resulted in a 100% surge in demand globally in the first few months of 2020. The world’s largest rubber glove manufacturer Malaysia, which contributes to nearly 63% of the global supply has revised its estimated supply to 220 billion pieces in 2020 amid the current scenario which is much higher than the previously estimated numbers of 188 billion pieces.
As another extended of Rubber Gloves Industry MARGMA expected to have 20 new manufacturers with existing 59 manufacturers in 2021 to 2022 to support the global market demand. As a key aspect as an Ecosystem whom support Glove industry in terms of Machinery, Raw materials and Logistics, MARGMA has 178 associate members to assist in terms of Raw material supply, logistics with the expected 30% increase of new associates incoming 2021/2022.
Source: Market Write Up Outlook JR Engineering and Medical Technologies (M) Sdn Bhd