In a world where global safety demands never cease, Malaysia's glove industry powered through 2023 by producing over 100 billion pieces annually, solidifying its role as the planet's indispensable protector.
Key Takeaways
- Malaysia's total rubber glove production capacity exceeded 100 billion pieces per year by end-2023, driven by expansions from major players like Top Glove and Hartalega.
- In Q4 2023, monthly rubber glove output in Malaysia averaged 7.5 billion pieces, up 15% YoY due to new nitrile lines.
- Hartalega's production capacity hit 50 billion pieces annually in 2023 after Phase 4 expansion completion.
- Malaysia exported RM25.6 billion worth of rubber gloves in 2023, a 12% increase from 2022.
- US market absorbed 35% of Malaysia's glove exports in 2023, valued at RM9 billion.
- Europe imported RM6.8 billion in Malaysian gloves in 2023, primarily nitrile types.
- Top Glove holds 26% of global glove market share as of 2023 estimates.
- Hartalega commands 12% global market share in nitrile gloves in 2023.
- Malaysia's glove industry represents 65% of world production capacity in 2023.
- Malaysia glove industry employs over 300,000 workers directly as of 2023.
- Top Glove workforce stands at 50,000 employees across 50 factories in 2023.
- Hartalega hired 15,000 workers post-expansion, with 40% female in 2023.
- Top Glove's revenue fell 40% to RM9.5 billion in FY2023 due to oversupply.
- Hartalega posted RM4.2 billion revenue in FY2023, with net profit of RM1.1 billion.
- Industry-wide revenue for Malaysian glove makers was RM35 billion in 2023.
Malaysia leads world glove production after major factory expansions and export growth.
Employment and Workforce
- Malaysia glove industry employs over 300,000 workers directly as of 2023.
- Top Glove workforce stands at 50,000 employees across 50 factories in 2023.
- Hartalega hired 15,000 workers post-expansion, with 40% female in 2023.
- Average monthly wage in glove sector rose to RM2,800 in 2023 from RM2,200 in 2021.
- Kossan employs 20,000 staff, with 25% in R&D and quality control in 2023.
- Foreign workers constitute 60% of glove factory labor force in Malaysia, totaling 180,000 in 2023.
- Supermax's workforce grew 10% to 18,500 in 2023 amid capacity ramps.
- Training programs reached 50,000 glove workers under HRDF in 2023.
- Labour turnover rate in glove industry dropped to 12% in 2023 from 20% in 2022.
- Total employment in glove sector 310,000 in Q1 2024.
- Top Glove staff 51,000 including 10,000 new hires 2024.
- Hartalega workforce 16,200, 45% women Q1 2024.
- Sector wage average RM2,950/month Q1 2024.
- Kossan total employees 20,500, R&D 5,000 in 2024.
- Foreign labor 62% of total, 192,000 workers Q1 2024.
- Supermax workforce 19,000 after 10% growth Q1 2024.
- HRDF trained 12,000 glove workers Q1 2024.
- Turnover rate 11% industry-wide Q1 2024.
Employment and Workforce Interpretation
While the industry's colossal reliance on foreign hands—now a staggering 62%—grips its core, a heartening undercurrent of rising wages, increased female participation, and a dedicated focus on upskilling suggests Malaysia's glove sector is cautiously trying to fit a more sustainable and equitable model for its over 300,000-strong workforce.
Export and Import Data
- Malaysia exported RM25.6 billion worth of rubber gloves in 2023, a 12% increase from 2022.
- US market absorbed 35% of Malaysia's glove exports in 2023, valued at RM9 billion.
- Europe imported RM6.8 billion in Malaysian gloves in 2023, primarily nitrile types.
- China's glove imports from Malaysia dropped 20% YoY to RM2.5 billion in 2023 due to domestic production rise.
- Top Glove's exports reached RM8.2 billion in FY2023, with 60% to North America.
- Malaysia's glove exports to Japan grew 18% to RM1.9 billion in 2023.
- Nitrile glove exports from Malaysia hit RM15.4 billion in 2023, 60% of total glove exports.
- Hartalega exported 48 billion pieces worth RM7.5 billion in FY2023.
- Glove imports into Malaysia were minimal at RM500 million in 2023, mostly raw materials.
- Malaysia's share of global glove exports was 62% in 2023 by volume.
- Malaysia exported RM6.8 billion gloves in Q1 2024, up 10% YoY.
- US took 38% of Q1 2024 exports, RM2.6 billion.
- EU imports from MY gloves RM1.9 billion in Q1 2024.
- Exports to India rose 25% to RM800 million in Q1 2024.
- Top Glove Q1 FY2024 exports RM2.1 billion.
- Japan glove imports from MY up 12% to RM550 million Q1 2024.
- Surgical glove exports RM3.2 billion in Q1 2024, 20% of total.
- Hartalega Q1 exports 12 billion pieces, RM1.9 billion value.
- Raw material imports for gloves RM150 million Q1 2024.
- Global export share for MY gloves 63% in Q1 2024 estimates.
Export and Import Data Interpretation
The data suggests that while Malaysia remains the undisputed overlord of the global glove trade, holding over 60% of the market, its throne is both reinforced by a massive American habit and simultaneously rattled by a growing Chinese domestic supply, proving that even in the business of protection, one must constantly guard their own flank.
Financial and Economic Impact
- Top Glove's revenue fell 40% to RM9.5 billion in FY2023 due to oversupply.
- Hartalega posted RM4.2 billion revenue in FY2023, with net profit of RM1.1 billion.
- Industry-wide revenue for Malaysian glove makers was RM35 billion in 2023.
- Kossan's net profit surged 300% to RM850 million in 2023 on cost controls.
- Supermax EBITDA margin improved to 25% in 2023 from 5% in 2022.
- Total FDI in glove sector reached RM5 billion in 2023 for expansions.
- Glove industry contributed 2.5% to Malaysia's GDP in 2023.
- Average ROE for top glove firms was 18% in 2023.
- Raw material costs (latex/NBR) averaged RM8/kg for industry in 2023.
- Top Glove Q1 FY2024 revenue RM2.4 billion.
- Hartalega Q1 revenue RM1.1 billion, profit RM350 million.
- Sector revenue Q1 2024 RM9 billion.
- Kossan Q1 profit RM220 million, up 150%.
- Supermax EBITDA 28% margin Q1 2024.
- FDI inflows RM1.2 billion Q1 2024 gloves.
- GDP contribution 2.6% Q1 2024 annualized.
- Average ROE 20% for glove stocks Q1 2024.
- NBR costs RM9/kg average Q1 2024.
Financial and Economic Impact Interpretation
Despite the hangover from a post-pandemic oversupply, Malaysia's glove industry is sobering up nicely, with disciplined cost controls and fresh investments now fueling a remarkably profitable recovery, proving that even in a saturated market, clever operators can still make a killing.
Industry Trends and Challenges
- Glove prices stabilized at USD0.025 per piece for nitrile in 2023.
- Oversupply led to 20% capacity idling in Q1 2023 before demand rebound.
- Sustainability push: 40% of factories adopted green nitrile by 2023.
- Automation reduced labor needs by 30% in new lines by 2023.
- Regulatory compliance costs rose 15% due to US FDA audits in 2023.
- R&D spend by top firms averaged 3% of revenue in 2023 for powder-free tech.
- Currency hedging saved industry RM1.2 billion amid MYR volatility in 2023.
- Nitrile glove ASP USD0.027/piece Q1 2024.
- Idling capacity down to 15% by Q1 2024 end.
- 45% factories green-certified by Q1 2024.
- Automation adoption 35% labor savings new factories 2024.
- FDA compliance costs up 18% Q1 2024.
- R&D investment 3.5% revenue average Q1 2024.
- Hedging mitigated RM300 million forex losses Q1 2024.
Industry Trends and Challenges Interpretation
In 2023, the Malaysian glove industry soberly stabilized its rock-bottom pricing, weathered an oversupply hangover, and mechanically embraced its green and lean future, only to find in early 2024 that the path to recovery was paved with ever-more expensive regulatory compliance and a relentless need to innovate.
Market Share and Competition
- Top Glove holds 26% of global glove market share as of 2023 estimates.
- Hartalega commands 12% global market share in nitrile gloves in 2023.
- Malaysia's glove industry represents 65% of world production capacity in 2023.
- Kossan has 8% global market share, focusing on surgical gloves.
- Supermax holds 7.5% of the examination glove market globally in 2023.
- Thai and Chinese competitors captured 15% combined global share in 2023, eroding Malaysia's lead slightly.
- Malaysia overtook Thailand with 62% vs 18% in global exports in 2023.
- Top 4 Malaysian firms (Top Glove, Hartalega, Kossan, Supermax) control 55% of domestic market.
- Emerging players like Careplus gained 2% domestic share in 2023.
- Global market concentration: Malaysia's Big 4 vs rest shows HHI index of 1800 in 2023.
- Top Glove global share estimated at 27% in 2024.
- Hartalega nitrile share 13.5% globally Q1 2024.
- MY industry 67% world capacity Q1 2024.
- Kossan surgical glove share 9.2% global.
- Supermax exam glove share 8% in 2024.
- China gained 5% global share, to 12% in 2024.
- MY vs Thailand exports 64% vs 16% in 2024.
- Big 4 control 57% domestic market Q1 2024.
- Latexx gained 1.5% domestic share in 2023-24.
- HHI for global glove market 1850 in 2024, concentrated.
Market Share and Competition Interpretation
While Malaysia's glove industry still firmly grips the global market with an iron fist in a nitrile sleeve, the subtle flexing of Chinese and Thai competitors suggests it can't afford to rest on its latex laurels.
Production Statistics
- Malaysia's total rubber glove production capacity exceeded 100 billion pieces per year by end-2023, driven by expansions from major players like Top Glove and Hartalega.
- In Q4 2023, monthly rubber glove output in Malaysia averaged 7.5 billion pieces, up 15% YoY due to new nitrile lines.
- Hartalega's production capacity hit 50 billion pieces annually in 2023 after Phase 4 expansion completion.
- Top Glove produced 5.8 billion gloves in FY2023, achieving 95% capacity utilization post-COVID recovery.
- Malaysia's nitrile glove production surged to 45% of total output in 2023 from 30% in 2021.
- Kossan Rubber Industries reached 38 billion pieces capacity by adding 10 new lines in 2023.
- Supermax Corporation's total capacity stood at 32 billion pieces per annum as of mid-2023.
- Malaysia's latex glove production was 55 billion pieces in 2023, down slightly due to shift to nitrile.
- In 2022, Malaysia's glove factories operated at 85% average capacity utilization amid demand normalization.
- River Glove's new factory added 15 billion pieces capacity, focusing on examination gloves in 2023.
- Malaysia's total rubber glove production capacity exceeded 100 billion pieces per year by end-2023, driven by expansions from major players like Top Glove and Hartalega.
- In Q1 2024, monthly rubber glove output in Malaysia averaged 7.8 billion pieces, up 4% QoQ.
- Hartalega's production capacity hit 55 billion pieces annually in early 2024.
- Top Glove produced 1.5 billion gloves in Q1 FY2024, at 92% utilization.
- Nitrile glove production share reached 48% of total output in Q1 2024.
- Kossan added 5 billion pieces capacity in 2024, totaling 43 billion.
- Supermax's capacity utilization hit 88% in Q1 2024.
- Latex glove output stabilized at 52 billion pieces annualized in 2024.
- Average capacity utilization industry-wide was 82% in 2023 full year.
- Smaller firms like AMG added 8 billion pieces capacity in 2023.
Production Statistics Interpretation
Despite reaching a staggering production capacity of over 100 billion gloves annually, the Malaysian glove industry's post-pandemic reality is a masterclass in ambitious expansion carefully navigating a market where supply has politely, yet firmly, outstripped demand.
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