Global Rubber Gloves Market Report: 2015 Edition - New Report by Koncept Analytics

-------------------------------- Training Manual March 2009

Global Rubber Gloves Market Report ----------------------------------------- 2015

View Report Details Executive SummaryOver the past few years, there has been a notable rise in the demand of gloves whenever there is an outbreak of flu or viral diseases. During and after such outbreaks, there is a sudden change in the demand for rubber gloves due to increased hygiene concerns. In addition, the demand for gloves from food industry and others services as those involved in the provision of spa facilities, manicure, pedicure, tattooing and hair styling services is also set to increase. The market for rubber gloves is highly competitive with few large players dominating both global and regional markets. All these companies have rolled out their production plans to increase their capacities, supply better products and to meet the increasing demand globally. Although the industry has maintained its growth momentum, the major bottlenecks are foreign exchange risks, threat from pricing competition, sudden upward movement in raw material prices and competitive threats from neighboring countries.The key factors driving growth of the global rubber gloves industry include rising number of ageing population, increasing healthcare expenditure, introduction of new production lines to drive efficiency and earnings, increasing potential of emerging markets and emergence of pandemics. Some of the noteworthy trends and developments of this industry are shifting demand from natural rubber glove to synthetic rubber glove, strengthening dollar and falling crude oil prices, no significant cost hike for glove makers in 2015, NBR glove sales expectation to be stronger, capacity constraints in NBR segment easing, and rubber prices firming up into the wintering period.The report Global Rubber Gloves Market analyzes the development of this market, with focus on Malaysias rubber gloves industry. The major trends, growth drivers as well as issues being faced by the industry are discussed in detail in this report. The four major players in the industry, Top Glove, Kossan, Supermax and Hartalega, are being profiled along with their key financials and strategies for growth. The report contains a comprehensive analysis of the global rubber gloves industry along with the study of regional markets. By combining SPSS Inc.s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.

View Report DetailsRubber gloves cover a wide range of applications from medical gloves to utility gloves and are being increasingly used in both professional as well as household chores.The global rubber production increased, from Million Tonnes in 2008 to Million Tonnes in 2014 and has registered an annual growth rate of % for 2014.

The Global Rubber Gloves Demand has increased significantly and stood at billion pieces and has recorded a CAGR of % for the year 2014.

is the largest market for rubber gloves with an estimated share of% share in 2014, followed by with % share.Global Rubber Gloves Demand (2009-2014) Global Rubber Production and Annual Growth (2008-2014)Global Rubber Glove Market by Region (2014)

Consumption and demand of rubber gloves is expected to increase in Asia, as healthcare awareness becomes crucial, while growth in other regions like United States and Europe would continue to boost exports Examination glove accounts for% share of the rubber gloves exports, followed by surgical gloves with % share. Non-medical sector includes cleanroom, household and industrial gloves with % share.Malaysian exports of rubber gloves declined by % in 2014 to US$... billion compared to US$ billion in the previous year. The same represented a CAGR of % over the period spanning 2010-2014. The glove industry is currently entering a technology transformation as most of the manufacturing facilities are highly automated and are less labour intensive. Malaysias nitrile glove exports stood at % and the share of latex glove export was %. There has been a consistent rise in the share of nitrile exports from 2009.

Malaysias Export of Rubber Gloves & Annual Growth (2010-2014)Global Rubber Gloves Exports by Usage (2014) Malaysia Rubber Gloves Exports- Nitrile: Latex Ratio (2014)

The rubber gloves market has a positive outlook for the period 2015-2019, chiefly on the back of increasing healthcare expenditure, hygiene awareness, and health threats across the globeIn terms of volume, the export of synthetic rubber gloves from Malaysia accounted for tonnes in 2014.The synthetic rubber glove exports recorded a CAGR of % over the period 2010-2014. The natural rubber glove exports, however, declined to tonnes in 2014 compared to tonnes in 2013.The percentage share of SR gloves in the US imports increased from % in 2007 to % in 2013. As of 2013, SR gloves imports in the US accounted for billion pieces, whereas the import of NR gloves was billion pieces.The rubber gloves market has a positive outlook for the period 2015-2019, chiefly on the back of increasing healthcare expenditure, hygiene awareness, and health threats across the globe. The demand for rubber gloves is forecasted to increase at a CAGR of ..% during 2014 to 2019 reaching .. billion pieces by the end of 2019. NR and SR Gloves Imports in the US (2007-2013)Exports of Rubber Gloves by Material Type by Volume (2009-2014)Global Rubber Gloves Demand (2014-2019F)

Koncept AnalyticsCS-36, Second Floor, Ansal PlazaVaishali, Ghaziabad, U.P. 201010T. +91-120-4130959C: +91-9811715635 [email protected] Us:www.konceptanalytics.com

Vikas GuptaBD ManagerThese are abridged and sanitized sample pages from the comprehensive report on the Global Rubber Glove Market . To know more about this report or for any customized research requirement, please contact the following: View Report DetailsChart2

6.revenue by segmentshartalega holdings berhadTOP GLOVE CORPORATIONsupermax corporation(sales breakdown by geo segments)countriesrevenuepercentMYR MILLIONSCOUNTRIESREVENUEcontinents salesPERCENTNorth america53633838348.44%53630.00%Europe31%America492,148,02649%Europe330,854,78429.90%3.31North america28%Europe321,402,79232%Asia(excluding malaysia)141,494,11312.78%141.40%Asia16%Asia/Australia150,657,55915%South america54,496,9434.92%54.40%Latin america14%Africa40,175,3494%Australia42,970,8323.88%42.90%Middle east7%Malaysia924,3100.08%0.90%Africa4%

top glove product mixPRODUCTSREVENUEPowdered Latex48%Nitrile24%Powdered Free Latex20%Vinyl6%Surgical2%

financial overviewhartalega holdings berhadsupermax corporationtop glove corporationyearsRevenue ( US$)revenue(MYR million)income( MYR million)Income(US$)years revenue rm millionrevenue( us$)income(rm)2014304.661107.00308.9085.0120141,004276.312013121.97443.2095.5026.2820131,048288.422012157.39571.90177.8048.932012997274.382011202.25734.90242.8066.8220111,021280.992010256.25931.10258.4071.112010977268.882009284.021032.00304.1083.69

turnover and net profitTURNOVER AND NET PROFIT(PAT)

TOP GLOVE CORPORATIONYEARSTURNOVERNet Profits2009457.450.32010679.781.92011664.237.22012756.667.52013707.5622014704.6156.840.3096714745.53CONTINENTSMYR 2014MYR201320142013US$MILLION(2014)US$ MILLION(2013)AMERICA492,148,026534556856492.2534.5152.42165.52EUROPE321402792377334252321.4377.399.5330.82ASIA/AUSTRALIA150657559104815070150.6104.846.6414.44AFRICA401753493144452140.231.412.453.86CONTINENTSSALES PERCENTAGE(2014)SALES(2014) US$ MILLIONAmerica49.0152.42Europe32.099.53Asia/Australia15.046.64Africa4.012.45311.04320.69311.030.309671048.2324.596094supermax corporationYEARRevenueNet profits2010319.560.12011330.536.32012324.844.72013320.645.32014311.0139.7hartalega berhad YEARTURNOVER MYR MILLIONSUS$ MILLIONNET PROFITS MYR MILLIONUS$ MILLIONYEARTurnoverNet Profits2010571.9177.10143.144.312010177.1044.312011734.9227.58190.358.932011227.5858.932012931.1288.33201.462.372012288.3362.3720131032319.58233.672.342013319.5872.3420141107342.80233.372.252014342.8072.250.3096710.30967kossan corporationsegmentsrevenue( 2014)percentTechnical rubber division162,06212.47segmentsrevenue(US$ MILLION)Gloves division 1,096,63484.40Technical rubber division12.47%Clean-room division40,6173.13Gloves division 84.40%1,299,313100.00Clean-room division3.13%revenue and net income of kossanYEARTurnoverNet Income2010342.237.12011352.628.92012401.933.32013399.941.72014402.3545.5

randomcountriesTurnover by segmentsRM MILLIONSUS$ MILLIONnorth america48.5536.3166.08europe29.9330.8102.44asia(excluding malaysia)12.8141.443.79australia3.942.913.28malaysia0.10.90.28south america4.954.416.85TOTAL100.0342.72

YearRubber Production ('000 tonnes)Natural RubberSynthetic RubberTotal Rubber20006,81110,87017,68120016,91310,48317,39620027,31710,90618,22320037,98611,41419,40020048,72611,97920,70520058,92112,02520,94620069,85012,70022,550200710,05713,36723,424200810,09812,74722,84520099,72312,40922,132201010,39314,12424,517201111,21615,10426,320201211,61615,08926,705201312,21715,47127,688201411,80916,71528,524

Year Rubber Production ('000 tonnes) Natural Rubber Synthetic Rubber Total Rubber 20006,81110,87017,68120016,91310,48317,39620027,31710,90618,22320037,98611,41419,40020048,72611,97920,70520058,92112,02520,94620069,85012,70022,550200710,05713,36723,424200810,09812,74722,84520099,72312,40922,132201010,39314,12424,517201111,21615,10426,320201211,61615,08926,705201312,21715,47127,688201411,80916,71528,524

global rubber market2.1YearWorld productionY-O-Y growth Y-O-Y growth200723.42200822.84-2.48-2.48%200922.13-3.11-3.11%201024.5110.7510.75%201126.327.387.38%201226.71.441.44%201327.683.673.67%201428.523.033.03%YearWorld productionY-O-Y growth200723.42200822.84-2.48%200922.13-3.11%201024.5110.75%201126.327.38%201226.71.44%201327.683.67%201428.523.03%

Year naturalSynthetic Rubber Total Rubber 20007,10810,83017,93820017,03910,25317,29220027,51510,67918,19420037,79711,17718,97320048,56211,69320,25520059,04911,73120,78020069,51312,43421,947200710,13313,08723,220200810,18712,57822,76520099,28912,15021,439201010,76414,03424,798201110,99714,85425,851201211,04814,97826,026201311,38615,43326,819201411,85516,76828,6232.2

YearConsumptionY-O-Y growthyoy200723.22200822.76-2.00%-2.0200921.43-5.80%-5.8201024.7915.70%15.7201125.854.30%4.3201226.020.70%0.7201326.813.00%3.0201428.626.80%6.82.3NATURAL RUBBER PRODUCTION AND CONSUMPTION

YearProductionConsumption200810.0910.1820099.729.28201010.3910.76201111.2110.99201211.6111.04201312.2111.38201411.811.852.4Synthetic rubber production and consumptionYearProductionConsumption200812.7412.57200912.412.15201014.1214.03201115.114.85201215.0814.97201315.4715.43201416.7116.762.5 regional production and consumption of natural rubber NATURAL RUBBER PRODUCTIONTOTLA(2013)Q1Q2Q3TOTAL(2014)Asia-Pacific249424523075333211352270823842839EMEA133123139144539150132142Americas87976774326899568TOTAL2713267232813550122172947261130498607NATURAL RUBBER CONSUMPTIONAsia-Pacific18952109213220938229198821792226EMEA3723613883621483394391389Americas4134314104201674435448420TOTAL2680290129302875113862816301830358869

CONTINENTSPRODUCTION(Q1-Q3)CONSUNPTION(Q1-Q3)Asia-Pacific79316393EMEA4241174Americas2521303

note: data till quarter 3(2014)

2.6 regional production and consumption of synthetic rubber

SYNTHETIC RUBBER PRODUCTIONCONTINENTSTOTAL(2013)Q1Q2Q3TOTAL(2014)CONTINENTSProductionConsumptionAsia-Pacific20462062209121578357225224992489Asia-Pacific72407565EMEA1106995994106341581054960974EMEA29882716Americas7257137547642956741730744Americas22152201TOTAL38773769384039851547140464188420712441SYNTHETIC RUBBER CONSUMPTIONAsia-Pacific21862222218623428936238825622615EMEA9539269108953684935919862Americas6936927346942813712741748TOTAL38333839382939321543340364223422512484


2.7MALAYSIA'S CONSUMPTION,PRODUCTION AND TRADE OF RUBBER

YearProductionConsumptionImports Exports( IN thousand tonnes)20101038699.7917.51313.720111106.2696.7918.4130620121027.5757.91156.91364.62013927.8765.213291426.22014801.6825.112661312.7SOURCE:International Rubber Study Group (IRSG)YearProductionConsumptionImports Exports( IN thousand tonnes)20101038699.7917.51313.720111106.2696.7918.4130620121027.5757.91156.91364.62013927.8765.213291426.22014801.6825.112661312.7SOURCE:International Rubber Study Group (IRSG)2.7

Product Typespercent share in exportsTyres 6.48%Inner Tubes 0.10%Footwear 2.08%Latex Products 80.38%IRGs* 3.92%GRGs** 7.05%Total Imports

* Industrial Rubber Goods** General Rubber GoodsSource : Department of Statistics, Malaysia

rubber glove market3.1GLOBAL GLOVE DEMAND( BILLION PIECES)yearglobal glove demand(Bn pcs)Y-O-Y growthyearglobal glove demand(Bn pcs)Y-O-Y growth

200712220081241.64%20081241.64200914012.90%200914012.9020101507.14%20101507.142011148-1.33%2011148-1.3320121608.11%20121608.1120131653.13%20131653.132014E 1787.88%2014E 1787.882015E1896.18%2015E1896.182016E2005.82%2016E2005.82Source: Affin Hwang, Company

3.2 Global Rubber Gloves Exports by Usage exports by usageExamination89%Surgical3%Cleanroom2%Household1%Industrial5%100.00%Source: MREPC, AmResearch

regional markets3.5 malaysia exports of rubber PRODUCTS (2014)

Year Imports Exports Trade Balance (RM Million) Value % of National Imports Value % of National Exports (RM Million) (RM Million) 20001,120.290.45,512.741.54,392.4520011,469.500.55,827.931.74,358.4420021,673.150.65,632.211.63,959.0620031,481.910.56,311.961.64,830.05YEARus millionsannual growth20042,083.160.58,466.901.86,383.7420093291.6320051,994.680.58,318.321.66,323.6420103995.8121.3920062,357.940.59,333.631.66,975.6920114408.1710.3220072,463.290.510,426.341.77,963.0420124516.292.4520082,761.000.511,107.551.78,346.5520134544.460.6220092,810.420.610,588.441.97,778.0120144717.243.8020103,424.900.612,853.6329,428.7220113,902.410.714,180.12210,277.7220124,510.630.714,527.902.110,017.2720134,666.070.714,618.5129,952.4420144,876.140.715,174.33210,298.20Note: Starting from 2000, export includes re-export figureSource: Department of Statistics, MalaysiaYEAREXPORTS (rm millions)200910,588.44201012,853.63201114,180.12201214,527.90201314,618.51201415,174.33Figure 3.6: Malaysias Exports of Natural Rubber by Destination(2014)Countries 20072008200920102011201220132014tonnes % tonnes % tonnes % tonnes % tonnes % tonnes % tonnes % tonnes % China 370,90036.43301,17832.9274,01339.28347,58938.59408,59742.56306,51239.75392,09046.29331,28945.9Germany 135,92413.35123,30213.4781,96311.75113,71712.62113,71711.84111,89114.51103,75912.25100,77413.96Iran 27,0372.6640,1804.3932,1774.6138,8214.3127,6792.8832,6954.2454,6226.4540,4615.61U.S.A 52,6925.1853,5415.8528,7544.1240,0764.4534,3603.5833,2004.3135,6124.238,7545.37Brazil 35,7973.5233,6243.6720,941326,7902.9726,7902.7922,6662.9428,8573.4118,5202.57S. Korea 61,1366.0151,7915.6646,9256.7348,6465.443,5824.5431,6444.125,454318,0312.5India 1,4010.142,8860.321,5260.229,8641.110,2281.075,5130.716,0070.7114,1281.96Turkey 21,3152.0921,3612.3316,8062.4120,0072.2221,3442.2215,8032.0513,9591.6513,0331.81Finland 18,3051.829,7163.253,8310.5510,9671.2217,0761.7815,3621.9917,6892.0912,3981.72Portugal 18,3051.829,7163.253,8310.5510,9671.2217,0761.7815,3621.9917,6892.0912,3981.72France 43,4394.2731,6313.4613,2321.921,7452.4116,3701.712,1501.5811,7251.389,8851.37Mexico 9,1190.97,3820.8118,2522.628,7230.977,6920.811,1991.4512,1141.439,7681.35Taiwan 17,4211.7116,1071.765,7230.8213,7601.5311,0961.1610,4321.3511,5411.369,5521.32South Africa 14,1261.3915,3061.6714,5092.0813,8131.5312,0631.2614,0941.8312,3861.468,7651.21Italy 19,6481.9317,2921.895,1710.7412,4361.3810,1001.058,9571.169,0331.078,6261.2Egypt 5,2260.517,0120.775,5010.795,3920.65,5560.586,4150.836,3230.756,1950.86U.K. 15,6951.5416,7871.837,7611.1112,0431.3418,3001.9111,7091.528,7901.046,1450.85Japan 7,9570.787,5540.834,6220.6610,8371.25,1770.544,9170.644,7440.565,3600.74Poland 4,2080.411,7100.191,6850.243,7950.422,6840.282,8790.372,9180.344,7150.65Tunisia 1,5620.151,3510.154,0320.584,4450.494,3340.452,2180.293,9110.464,6770.65Others 136,83913.44106,08111.59106,30715.24126,33714.03146,32015.2495,55612.3967,8678.0148,2486.69Total 1,018,052100915,507100697,562100900,770100960,141100771,174100847,090100721,722100COUNTRIES% Share In ExportsChina 45.9China 45.9Germany 13.96Germany 13.96Iran 5.61Iran 5.61U.S.A 5.37U.S.A 5.37Brazil 2.57Brazil 2.57S. Korea 2.5S. Korea 2.5India 1.96India 1.96Turkey 1.81Others 22.14Finland 1.72Portugal 1.72France 1.37Mexico 1.35Taiwan 1.32South Africa 1.21Italy 1.2Egypt 0.86U.K. 0.85Japan 0.74Poland 0.65Tunisia 0.65Source: Department of Statistics, MalaysiaOthers 6.69Total 100 latex and nitrile exports (%) (2009 1H14)yearLATEX EXPORTSNITRILE EXPORTS200978%22%201069%31%201158%42%201254%46%201350%50%1H1447%53%Source: MREPC, Affin HwangGrowth in glove exports (2008 2013)yearlatex( billion pieces)nitrile( billion pieces)20095115201051232011413020124437201344441H143433Source: MREPC, Affin HwangFigure 3.7: Malaysian Exports of rubber products by latex and non latex productsthousand tonnesin tonnesyeardry latex natural rubber exportstotal exports2010853,29147,479900,7701,313,7002011918,55541,586960,1411,306,0002012739,42631,748771,1741,364,6002013813,51233,578847,0901,426,2002014689,35232,370721,7221,312,700in tonnesyear natural rubber exportsNatural Export%synthetic rubber exportsSynthetic Export%total exports2010900,77069412,930311,313,7002011960,14174345,859261,306,0002012771,17457593,426431,364,6002013847,09059579,110411,426,2002014721,72255590,978451,312,700YEARNatural Export%Synthetic Export%201069%31%201174%26%201257%43%201359%41%201455%45%3.12 PERCENTAGE BREAKUP OF MALAYSIAN EXPORT OF RUBBER GLOVES BY MATERIAL TYPEPer capita glove consumption comparisoncountriesPer capita glove consumptionchina4.6asia4.8EU98USA149Source: Affin Hwang, Company

Sheet2Latex priceNitrile priceJan-084.55555555560.265Apr-084.61111111110.349Jul-086.27777777780.15Oct-08Jan-09Apr-09Jul-09Oct-09Jan-10Apr-10Jul-10Oct-10Jan-11Apr-11Jul-11Oct-11Jan-12Apr-12Jul-12Oct-12Jan-13Apr-13Jul-13Oct-13Jan-14Apr-14Jul-14Oct-14Jan-15Per capita glove consumption comparisonSource: Affin Hwang, CompanyUS glove imports (2003-2013)Malaysias glove exports (2008-2013)

NEW GRAPHS FIGURE 1 Malaysia's Import of Natural Rubber by Countries 2014( IN TONNES)COUNTRIESIMPORTS%COUNTRIES%Thailand44111848.10%Thailand48.10%Vietnam22995025.40%Vietnam25.40%Phillipines591006.50%Phillipines6.50%Cambodia255552.80%Cambodia2.80%Myanmar163391.80%Myanmar1.80%Indonesia95011%Indonesia1%India74820.80%India0.80%Others11599612.80%Others12.80%TOTAL905041100%Source: Department of Statistics, Malaysia (DOS) Figure 2 Malaysia's export of natural rubber by destination(2014)COUNTRIESEXPORTS %China 45.90%Germany 13.96%Iran 5.96%U.S.A 5.37%Brazil 2.57%S. Korea 2.50%India 1.96%Others 22.14% Figure 3 Malaysia's Rubber Consumption by Type(tonnes)yearnatural rubbersynthetic rubber2010457,919185,0772011401,923225,9612012441,398258,5532013434,192290,7382014448,484353,068Source: Department of Statistics, MalaysiaInternational Rubber Study Group (IRSG) Figure 4 Malaysia's Rubber Consumption by type(2014)

natural rubbersynthetic rubber56%44%Malaysias Rubber Consumption by Product Sector (Tonnes)yeartyre and tubefootwearlatex productsGRG'S*IRG'S**201063,3481,072509,76347,15521,657201157,5691,187504,21845,02419,886201256,5151,383563,19259,25119,611201353,2261,480606,12843,31920,778201470,5961,030662,17343,63924,115801,553%8.810.1382.615.443.01** Industrial Rubber Goods*** General Rubber GoodsSource: Department of Statistics, MalaysiaProducts% ConsumptionTyre and Tube8.81%Footwear0.13%Latex Products82.61%GRG'S*5.44%IRG'S**3.01%Malaysias Output of Selected Rubber Products(2014)(million units)ProductsOutputtyres 12.88inner tubes10.9catheders139.79gloves64868footwear12.56(million pairs)productsoutputgloves32434footwear6.28productsoutput( in tonnes)rubber band2709rubber sheet 5554

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70,596tyres tubes 70,5961,030footwear1,030662,173latex662,17343,639irg's43,63924,115grg's24,115801,553total801,553100

Tyres and Tubes8.81Footwear0.13Latex82.61IRG's5.44GRG's3.01


200712220081241.64%20081241.64200914012.90%200914012.9020101507.14%20101507.142011148-1.33%2011148-1.3320121608.11%20121608.1120131653.13%20131653.132014E 1787.88%2014E 1787.882015E1896.18%2015E1896.182016E2005.82%2016E2005.82Source: Affin Hwang, CompanyYearGlobal Glove DemandY-O-Y growth20081272009128.180.93%0.932010135.996.09%6.092011134.97-0.75%-0.752012153.0813.42%13.4220131604.52%4.522014172.88%8.00( tp presentation)3.2 Global Rubber Gloves Exports by Usage exports by usageExamination89%Surgical3%Cleanroom2%Household1%Industrial5%100.00%Source: MREPC, AmResearch






Sheet1

20072008200920102011201220132014Production1229.91110.8906.610381106.21027.5933.6801.6Consumption617.3630.8645.1699.7696.7752.6780.5825.1Imports780.3692.7920.7917.5918.41158.21335.512660.27195916249.1062Exports1251.312011144.11313.713061378.31417.11312.720072008200920102011201220132014production 1229.91110.8906.610381106.21027.5933.6801.6consumption617.3630.8645.1699.7696.7752.6780.5825.1imports780.3692.7920.7917.5918.41158.21335.51266exports 1251.312011144.11313.713061378.31417.11312.71038

competeive landscapeFigure 13: Calendarised 2014 performances1QCY142QCY143QCY14Hartalega 1QCY14 2QCY14 3QCY14Revenue growth (%) 3.90%0.40%-2.00%Core net profit growth (%)-26.10%-18.40%-19.60%EBITDA margin (%)28.10%31.30%28.90%KossanRevenue growth (%)-6.40%-5.50%-1.60%Core net profit growth (%)7.50%3.40%-7.50%EBITDA margin (%) 20.30%19.70%19%SupermaxRevenue growth (%) -27.50%-27.80%-2.20%Core net profit growth (%)-17.90%-24.60%-22.30%EBITDA margin (%) 14.20%13.80%11.50%Top GloveRevenue growth (%)-3.50%-1.20%3.50%Core net profit growth (%)-15.60%-11.90%-14.50%EBITDA margin (%)13.20%11.70%12.30%source: CIMB, Company ReportsFYE Dec 2013 2014 2015E 2016E 2017E Top glove 1307.3 1299.3 1692.2 1856.4 2052.8 kossan 2,313.2 2,275.4 2,366.8 2,558.5 2,838.1 hartalega 1,032.0 1,107.1 1,125.4 1,414.2 1,651.8

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USEuropeAsiaLatin AmericaOthers

US31.30%Europe30.40%Asia17.80%Latin America8.50%Others12.00%


Year Imports Exports Trade Balance (RM Million) Value % of National Imports Value % of National Exports (RM Million) (RM Million) 20001,120.290.45,512.741.54,392.4520011,469.500.55,827.931.74,358.4420021,673.150.65,632.211.63,959.0620031,481.910.56,311.961.64,830.05YEARus millionsannual growth20042,083.160.58,466.901.86,383.7420093291.6320051,994.680.58,318.321.66,323.6420103995.8121.3920062,357.940.59,333.631.66,975.6920114408.1710.3220072,463.290.510,426.341.77,963.0420124516.292.4520082,761.000.511,107.551.78,346.5520134544.460.6220092,810.420.610,588.441.97,778.0120144717.243.8020103,424.900.612,853.6329,428.7220113,902.410.714,180.12210,277.7220124,510.630.714,527.902.110,017.2720134,666.070.714,618.5129,952.4420144,876.140.715,174.33210,298.20Note: Starting from 2000, export includes re-export figureSource: Department of Statistics, MalaysiaYEAREXPORTS (rm millions)200910,588.44201012,853.63201114,180.12201214,527.90201314,618.51201415,174.33Figure 3.6: Malaysias Exports of Natural Rubber by Destination(2014)Countries 20072008200920102011201220132014tonnes % tonnes % tonnes % tonnes % tonnes % tonnes % tonnes % tonnes % China 370,90036.43301,17832.9274,01339.28347,58938.59408,59742.56306,51239.75392,09046.29331,28945.9Germany 135,92413.35123,30213.4781,96311.75113,71712.62113,71711.84111,89114.51103,75912.25100,77413.96Iran 27,0372.6640,1804.3932,1774.6138,8214.3127,6792.8832,6954.2454,6226.4540,4615.61U.S.A 52,6925.1853,5415.8528,7544.1240,0764.4534,3603.5833,2004.3135,6124.238,7545.37Brazil 35,7973.5233,6243.6720,941326,7902.9726,7902.7922,6662.9428,8573.4118,5202.57S. Korea 61,1366.0151,7915.6646,9256.7348,6465.443,5824.5431,6444.125,454318,0312.5India 1,4010.142,8860.321,5260.229,8641.110,2281.075,5130.716,0070.7114,1281.96Turkey 21,3152.0921,3612.3316,8062.4120,0072.2221,3442.2215,8032.0513,9591.6513,0331.81Finland 18,3051.829,7163.253,8310.5510,9671.2217,0761.7815,3621.9917,6892.0912,3981.72Portugal 18,3051.829,7163.253,8310.5510,9671.2217,0761.7815,3621.9917,6892.0912,3981.72France 43,4394.2731,6313.4613,2321.921,7452.4116,3701.712,1501.5811,7251.389,8851.37Mexico 9,1190.97,3820.8118,2522.628,7230.977,6920.811,1991.4512,1141.439,7681.35Taiwan 17,4211.7116,1071.765,7230.8213,7601.5311,0961.1610,4321.3511,5411.369,5521.32South Africa 14,1261.3915,3061.6714,5092.0813,8131.5312,0631.2614,0941.8312,3861.468,7651.21Italy 19,6481.9317,2921.895,1710.7412,4361.3810,1001.058,9571.169,0331.078,6261.2Egypt 5,2260.517,0120.775,5010.795,3920.65,5560.586,4150.836,3230.756,1950.86U.K. 15,6951.5416,7871.837,7611.1112,0431.3418,3001.9111,7091.528,7901.046,1450.85Japan 7,9570.787,5540.834,6220.6610,8371.25,1770.544,9170.644,7440.565,3600.74Poland 4,2080.411,7100.191,6850.243,7950.422,6840.282,8790.372,9180.344,7150.65Tunisia 1,5620.151,3510.154,0320.584,4450.494,3340.452,2180.293,9110.464,6770.65Others 136,83913.44106,08111.59106,30715.24126,33714.03146,32015.2495,55612.3967,8678.0148,2486.69Total 1,018,052100915,507100697,562100900,770100960,141100771,174100847,090100721,722100COUNTRIES% Share In ExportsChina 45.9China 45.9Germany 13.96Germany 13.96Iran 5.61Iran 5.61U.S.A 5.37U.S.A 5.37Brazil 2.57Brazil 2.57S. Korea 2.5S. Korea 2.5India 1.96India 1.96Turkey 1.81Others 22.14Finland 1.72Portugal 1.72France 1.37Mexico 1.35Taiwan 1.32South Africa 1.21Italy 1.2Egypt 0.86U.K. 0.85Japan 0.74Poland 0.65Tunisia 0.65Source: Department of Statistics, MalaysiaOthers 6.69Total 100 latex and nitrile exports (%) (2009 1H14)yearNITRILE EXPORTS200978%22%201069%31%201158%42%201254%46%201350%50%1H1447%53%correctionyearNitrile GlovesLatex glovesTotal gloves9M109M119M129M139M14Source: MREPC, Affin HwangGrowth in glove exports (2008 2013)yearlatex( billion pieces)nitrile( billion pieces)20095115201051232011413020124437201344441H143433Source: MREPC, Affin HwangFigure 3.7: Malaysian Exports of rubber products by latex and non latex productsthousand tonnesin tonnesyeardry latex natural rubber exportstotal exports2010853,29147,479900,7701,313,7002011918,55541,586960,1411,306,0002012739,42631,748771,1741,364,6002013813,51233,578847,0901,426,2002014689,35232,370721,7221,312,700in tonnesyear natural rubber exportsNatural Export%synthetic rubber exportsSynthetic Export%total exports2010900,77069412,930311,313,7002011960,14174345,859261,306,0002012771,17457593,426431,364,6002013847,09059579,110411,426,2002014721,72255590,978451,312,700YEARNatural Export%Synthetic Export%201069%31%201174%26%201257%43%201359%41%201455%45%3.12 PERCENTAGE BREAKUP OF MALAYSIAN EXPORT OF RUBBER GLOVES BY MATERIAL TYPEPer capita glove consumption comparisoncountriesPer capita glove consumptionchina4.6asia4.8EU98USA149Source: Affin Hwang, CompanyMALAYSIAN RUBBER GLOVES EXPORT BY REGION (QUANTITY)USA31%EU29%East asia10%South America9%Non EU countries4%North America3%West Asia3%Oceania2%ASEAN3%Africa 3%South Asia1%CIS countries2%

Malaysias Output of Rubber Gloves ( million pairs)yearOutput200923132.71201026257.33201130897.84201231753.98201334628.16201432434Synthetic gloveNatural rubber glovePlastic201151.60%16.50%31.90%201257.40%12.80%29.80%201363.30%10%26.70%yearnitrile gloveslatex gloves20073.14.81620083.74.916.333333333320095.43.411.333333333320106.92.99.666666666720117.62.1720129.151.96.3333333333201310.61.75.6666666667

yearNitrile gloves Latex GlovesShare of Nitrile200710.331639.24%200812.3316.3343.03%200918.0011.3361.37%201023.009.6670.42%201125.33778.35%201230.506.3382.81%201335.335.6686.19%

Total Imports26.3328.6629.3332.6632.3336.8340.99




Sheet1

20072008200920102011201220132014Production1229.91110.8906.610381106.21027.5933.6801.6Consumption617.3630.8645.1699.7696.7752.6780.5825.1Imports780.3692.7920.7917.5918.41158.21335.512660.27195916249.1062Exports1251.312011144.11313.713061378.31417.11312.720072008200920102011201220132014production 1229.91110.8906.610381106.21027.5933.6801.6consumption617.3630.8645.1699.7696.7752.6780.5825.1imports780.3692.7920.7917.5918.41158.21335.51266exports 1251.312011144.11313.713061378.31417.11312.71038


Chart18























200712220081241.64%20081241.64200914012.90%200914012.9020101507.14%20101507.142011148-1.33%2011148-1.3320121608.11%20121608.1120131653.13%20131653.132014E 1787.88%2014E 1787.882015E1896.18%2015E1896.182016E2005.82%2016E2005.82Source: Affin Hwang, Company

3.2 Global Rubber Gloves Exports by Usage exports by usageExamination89%Surgical3%Cleanroom2%Household1%Industrial5%100.00%Source: MREPC, AmResearch






Sheet1

20072008200920102011201220132014Production1229.91110.8906.610381106.21027.5933.6801.6Consumption617.3630.8645.1699.7696.7752.6780.5825.1Imports780.3692.7920.7917.5918.41158.21335.51266Exports1251.312011144.11313.713061378.31417.11312.720072008200920102011201220132014production 1229.91110.8906.610381106.21027.5933.6801.6consumption617.3630.8645.1699.7696.7752.6780.5825.1imports780.3692.7920.7917.5918.41158.21335.51266exports 1251.312011144.11313.713061378.31417.11312.71038

Chart1


























USEuropeAsiaLatin AmericaOthers

US31.30%Europe30.40%Asia17.80%Latin America8.50%Others12.00%


Year Imports Exports Trade Balance CORRECTION GRAPHvalue- in rm millions(RM Million) malaysia's export of rubber gloves , other than rubber glovesValue % of National Imports Value % of National Exports (RM Million) (RM Million) yearvalue( in rm millions)usdValue( in US$ MillionsValue-( US$ Billion)20001,120.290.45,512.741.54,392.4520108888.50.311762771.12.7720011,469.500.55,827.931.74,358.4420119891.50.327723241.63.2420021,673.150.65,632.211.63,959.06201210559.80.325023432.13.4320031,481.910.56,311.961.64,830.05YEARus millionsannual growth201310533.50.319033360.53.3620042,083.160.58,466.901.86,383.7420093291.63201410701.90.305893273.63.2720051,994.680.58,318.321.66,323.6420103995.8120062,357.940.59,333.631.66,975.6920114408.1720072,463.290.510,426.341.77,963.0420124516.29year Exports Value-( US$ Billion)Annual Growth20082,761.000.511,107.551.78,346.5520134544.4620102.7720092,810.420.610,588.441.97,778.0120144717.2420113.2417.020103,424.900.612,853.6329,428.7220123.435.920113,902.410.714,180.12210,277.7220133.36-2.020124,510.630.714,527.902.110,017.27Source: Department of Statistics (DOS), malaysia20143.27-2.720134,666.070.714,618.5129,952.4420144,876.140.715,174.33210,298.20

Note: Starting from 2000, export includes re-export figureSource: Department of Statistics, MalaysiaYEAREXPORTS (rm millions)YEARUS$ BillionAnnual Growth200910,588.4420093.29201012,853.6320104.0021.39201114,180.1220114.4110.32201214,527.9020124.522.45201314,618.5120134.540.62201415,174.3320144.723.802009% tonnes 39.28347,58911.75113,7174.6138,8214.1240,076Figure 3.6: Malaysias Exports of Natural Rubber by Destination(2014)326,7906.7348,646Countries 200720080.229,86420102011201220132014tonnes % tonnes % tonnes 2.4120,007% tonnes % tonnes % tonnes % tonnes % China 370,90036.43301,17832.9274,0130.5510,96738.59408,59742.56306,51239.75392,09046.29331,28945.9Germany 135,92413.35123,30213.4781,9630.5510,96712.62113,71711.84111,89114.51103,75912.25100,77413.96Iran 27,0372.6640,1804.3932,1771.921,7454.3127,6792.8832,6954.2454,6226.4540,4615.61U.S.A 52,6925.1853,5415.8528,7542.628,7234.4534,3603.5833,2004.3135,6124.238,7545.37Brazil 35,7973.5233,6243.6720,9410.8213,7602.9726,7902.7922,6662.9428,8573.4118,5202.57S. Korea 61,1366.0151,7915.6646,9252.0813,8135.443,5824.5431,6444.125,454318,0312.5India 1,4010.142,8860.321,5260.7412,4361.110,2281.075,5130.716,0070.7114,1281.96Turkey 21,3152.0921,3612.3316,8060.795,3922.2221,3442.2215,8032.0513,9591.6513,0331.81Finland 18,3051.829,7163.253,8311.1112,0431.2217,0761.7815,3621.9917,6892.0912,3981.72Portugal 18,3051.829,7163.253,8310.6610,8371.2217,0761.7815,3621.9917,6892.0912,3981.72France 43,4394.2731,6313.4613,2320.243,7952.4116,3701.712,1501.5811,7251.389,8851.37Mexico 9,1190.97,3820.8118,2520.584,4450.977,6920.811,1991.4512,1141.439,7681.35Taiwan 17,4211.7116,1071.765,72315.24126,3371.5311,0961.1610,4321.3511,5411.369,5521.32South Africa 14,1261.3915,3061.6714,509100900,7701.5312,0631.2614,0941.8312,3861.468,7651.21Italy 19,6481.9317,2921.895,1711.3810,1001.058,9571.169,0331.078,6261.2Egypt 5,2260.517,0120.775,5010.65,5560.586,4150.836,3230.756,1950.86U.K. 15,6951.5416,7871.837,7611.3418,3001.9111,7091.528,7901.046,1450.85Japan 7,9570.787,5540.834,6221.25,1770.544,9170.644,7440.565,3600.74Poland 4,2080.411,7100.191,6850.422,6840.282,8790.372,9180.344,7150.65Tunisia 1,5620.151,3510.154,0320.494,3340.452,2180.293,9110.464,6770.65Others 136,83913.44106,08111.59106,30714.03146,32015.2495,55612.3967,8678.0148,2486.69Total 1,018,052100915,507100697,562100960,141100771,174100847,090100721,722100

COUNTRIES% Share In ExportsChina 45.9China 45.9Germany 13.96Germany 13.96Iran 5.61Iran 5.61U.S.A 5.37U.S.A 5.37Brazil 2.57Brazil 2.57S. Korea 2.5S. Korea 2.5India 1.96India 1.96Turkey 1.81Others 22.14Finland 1.72Portugal 1.72France 1.37Mexico 1.35Taiwan 1.32South Africa 1.21Italy 1.2Egypt 0.86U.K. 0.85Japan 0.74Poland 0.65Tunisia 0.65Source: Department of Statistics, MalaysiaOthers 6.69Total 100

latex and nitrile exports (%) (2009 1H14)yearNITRILE EXPORTS200978%22%201069%31%201158%42%201254%46%201350%50%1H1447%53%

correctionyearNitrile GlovesLatex glovesTotal gloves9M109M119M129M139M14

Source: MREPC, Affin Hwang

Growth in glove exports (2008 2013)yearLatexNitrile20095115201051232011413020124437201344441H143433

Source: MREPC, Affin Hwang

Figure 3.7: Malaysian Exports of rubber products by latex and non latex productsthousand tonnesin tonnesyeardry latex natural rubber exportstotal exports2010853,29147,479900,7701,313,7002011918,55541,586960,1411,306,0002012739,42631,748771,1741,364,6002013813,51233,578847,0901,426,2002014689,35232,370721,7221,312,700

in('000 tonnes)year natural rubber exportsNatural Export%synthetic rubber exportsSynthetic Export%total exports20109010412,930311,313,70020119600345,859261,306,00020127710593,426431,364,60020138470579,110411,426,20020147220590,978451,312,700YEARNatural Export%Synthetic Export%201069%31%201174%26%201257%43%201359%41%201455%45%

3.12 PERCENTAGE BREAKUP OF MALAYSIAN EXPORT OF RUBBER GLOVES BY MATERIAL TYPEYEAR Natural Rubber Synthetic Rubber 20109014132011960346201277159320138475792014722591

Per capita glove consumption comparisoncountriesPer capita glove consumptionChina4.6Asia4.8EU98US149

Source: Affin Hwang, Company

MALAYSIAN RUBBER GLOVES EXPORT BY REGION (QUANTITY)

US31%EU29%East asia10%South America9%Non EU countries4%North America3%West Asia3%Oceania2%ASEAN3%Africa 3%South Asia1%CIS countries2%

Malaysias Output of Rubber Gloves ( million pairs)yearOutput200923132.71201026257.33201130897.84201231753.98201334628.16201432434

Synthetic gloveNatural rubber glovePlastic201151.60%16.50%31.90%201257.40%12.80%29.80%201363.30%10%26.70%

yearnitrile gloveslatex gloves20073.14.81620083.74.916.333333333320095.43.411.333333333320106.92.99.666666666720117.62.1720129.151.96.3333333333201310.61.75.6666666667

yearNitrile gloves Latex GlovesShare of Nitrile200710.331639.24%200812.3316.3343.03%200918.0011.3361.37%201023.009.6670.42%201125.33778.35%201230.506.3382.81%201335.335.6686.19%

Total Imports26.3328.6629.3332.6632.3336.8340.99

LatexNitirlNitrile Latex 20095115667723201051237469312011413071584220124437815446201344448850501H143434685050

top ten export countries for nr gloves (2013)( million pairs)

US3253Brazil2482Japan721Germany1393France658Turkey 1275Italy912UK563China789Belgium234source: mrepc

top 10 export countries for SR gloves9 2013)(MILLION PAIRS)

US10587Germany2492UK1609Japan1752Canada703Spain589China293Italy475Australia401Netherlands365




Sheet1

market dynamics2015Jan-150.279840.28024Feb-150.277540.27797Mar-150.27160.272Apr-150.274830.27518May-150.277630.278047.55CRUDE OIL PRICECRUDE OIL PRICESAVERAGE EXCHANGE RATEJan-1413.3100.40.30301Feb-1413.9104.90.30187Mar-1413.9104.90.3049Apr-1413.7182.20.30718May-1413.7103.40.30967Jun-1414194.60.31087Jul-1414.2107.20.3142Aug-1413.35182.90.31469Sep-1413.4101.20.31126Oct-1412.9183.20.306Nov-141183.10.29925Dec-149.3124.60.28752Jan-15860.40.28024(US$/KG)0.36nitrile(US$/KG)latexMar-1423.5Jun-141.93.1Sep-142.22.3Dec-141.61.9Mar-151.62.2YearNitrile PricesLatex PricesMar-140.721.26Jun-140.6841.116Sep-140.7920.828Dec-143.23.8Mar-150.5760.792Ebola virus diseases casesCountriesCasesDeathsGuinea27751781Liberia81573496Sierra Leone97802943yearMYR/USDMali8620100.31176Nigeria20820110.32772Senegal1020120.32502Spain1020130.31903US 4120140.30589*20150.28024


Chart7








Year Rubber Production ('000 tonnes) Natural Rubber Synthetic Rubber Total Rubber 20006,81110,87017,68120016,91310,48317,39620027,31710,90618,22320037,98611,41419,40020048,72611,97920,70520058,92112,02520,94620069,85012,70022,550200710,05713,36723,424200810,09812,74722,84520099,72312,4092

Global Rubber Gloves Market Report: 2015 Edition - New Report by Koncept Analytics

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