Why Glove Industry Gains as Demand Surges Due to COVID-19

Latex gloves are in great demand after the outbreak of COVID-19 pandemic. The global glove industry is estimated to grow 12.4% between years 2020–2027.

Annual year 2020 saw their market worth as US $ 30.9Bn. It has been forecasted that this will grow to US$ 70Bn by 2027.

Hartalega holdings being one of the largest manufacturers world wide, easily produces 35billion gloves yearly. Their net profit has doubled to RM2.26Bn in 2021 in response to the COVID 19 crisis.

The entire world has been in a flux with businesses actually taking a nosedive. Small units were forced to shut down but in the gloves industry small units have picked up business in a big way.

Gloves are majorly treated in two different ways- powdered and powder free. Powder Free Latex Gloves are way better than the powdered gloves. Let us see why:

• Powder free gloves as the name suggests don’t contain corn starch which is present in its counterpart. This reduces risk of allergies and sensitivity to the skin.
• Powder free gloves are comparatively safe for use in the catering industry where food handling is common. There are less complaints of food contamination.
• These gloves are advisable for medical use as they are safer than powdered ones. The cornstarch in the latter can again cause problems.
• Latex Powder Free Examination Gloves ones undergo a chlorination process and the irritant cornstarch is not required for wearing and removing.
• These gloves are far more hardy than the other ones making it in demand in the chemical industry.
• They are water resistant thus protecting the hands during work.
• The grip in them is good and doesn’t slip off the hand during use.
• They are great for handling strenuous jobs that require a lot of action.
• They can be used repeatedly. No need to use and throw.

The pandemic is definitely a crisis situation snatching away livelihood from many people but the glove industry has benefited all the way. Their struggle has been to keep up with the huge demand for gloves and they have definitely been able to respond with urgency.

Just as the quote says “You cannot make a revolution with silk gloves”. Joseph Stalin(quotes from Brainy Quotes). The surge in demand for gloves can be likened to be revolutionary in today’s times keeping in mind the great effort involved in huge supply.

We will come up with more information on the pandemic…..who loses, who gains, what are future market trends and much more. “Continue reading”