27-Apr-2020 | Market Research Store
VIP Gloves, a gloves manufacturing plant in Malaysia, is working round the clock to meet the surplus requirement of medical essentials such as medical gloves. VIP has confirmed that there is a huge demand for the medical gloves and they have orders till year end. They have huge orders for nitrile disposable gloves that can fill around 100 40-foot shipping containers. These shipping containers can store around 4 million gloves.
The production of nitrile rubber gloves are increasing as VIP ensures product quality of international standards. These gloves are used in the medical as well as commercial sectors. More than 60% of the global disposable gloves production is held by Malaysia. Malaysia holds a dominant position in the market supported by the fact that the world’s leading glove suppliers and manufacturers are located in this region.
Two subsidiary companies owned by VIP produce nitrile disposable gloves. VIP carried a $10.27 million sale and leaseback agreement in February. The agreement dealt over land and buildings to the discrete Malaysian company DC Glove Sdn Bhd. Cash injection for VIP was the sole purpose of the sale. The funds were used for expanding the operations and to obtain supplementary raw materials to match the manufacturing capacity with the increasing customer demand. The sale also intended to reduce the financial debts of the company.
The recent report on the global nitrile medical gloves market published by the Market Research Store includes all the factors that are promoting the growth of the global market. It also reveals how COVID-19 has impacted overall market scenario of nitrile medical gloves market.