KUALA LUMPUR, May 6 — Malaysia’s rubber glove market share in the United States is set to increase to 55 per cent, despite a 10 per cent tariff hike and reciprocal tariffs imposed by the US on Malaysia.
Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said glovemakers from competing countries such as China are subject to higher tariffs, which gives Malaysia an advantage in expanding its rubber glove exports to the United States.
“As for rubber glove exports, Malaysia is well positioned to expand its market in the United States. We have about 47 per cent of the market share in the US rubber glove market, and it is expected to rise to 55 per cent based on the feedback the industry has given us,” he said during his ministry’s Q1 performance report briefing held today.
The report showed that the US rubber glove market size by 2030 is projected to reach US$4.17 billion (RM17.64 billion), with the potential of a 55 per cent market share for Malaysia. Rubber products are among the top five Malaysian exports to the US, amounting to RM7.41 billion (3.7 per cent).
— Bernama
