We believe that global demand for gloves will continue to be robust, growing by c.25% in 2021, especially given the current pandemic. Average Selling Prices (ASP) have also been increasing monthly, along with higher raw material and operating costs. We have since allocated 30% of our total capacity for spot orders and are fully sold for the next three months.
1. What are some notable developments that Top Glove’s shareholders can look forward to?
As the world’s largest manufacturer of gloves, Top Glove has a world market share of 26%. Besides Malaysia, its manufacturing operations are done out of Thailand, China and Vietnam as well. It has a comprehensive product range, which now includes a non-glove segment comprising condoms, face masks, dental dams and exercise bands.
