Reported 12 months ago
Driven by the demand due to pandemic, destocking success, and construction of semiconductor clean rooms, latex glove industry is entering a phase of recovery in the second quarter. This has led to an increase in stock prices for upstream suppliers Nan De (2108) and Shen Feng (6582), with Shen Feng reaching a new high since February last year. Positive market outlook for latex glove demand resurgence is also fueled by reports of production capacity recovery in Southeast Asia. Major player in the industry, a Malaysian glove manufacturer, reported significant revenue growth and profit turnaround due to strong demand and shifting orders from China to Southeast Asia. The overall recovery of latex glove production capacity in Southeast Asia, as well as the global trend of semiconductor and clean room construction, are expected to further boost the prospects of latex gloves. Industry reports predict a substantial market value growth for latex rubber gloves globally, reaching $105.51 billion by 2029 at a compound annual growth rate of 14.82%, with growing preference for NBR latex gloves due to sustainability considerations, high demand for special gloves in semiconductor and other industries' clean room environments.
Source: YAHOO