Hartalega Expects Rubber Gloves Prices to Trend Higher Amid Rising Feedstock Costs
Hartalega Holdings Bhd expects rubber gloves prices to continue rising due to higher feedstock and energy costs. The company's chief executive officer, Kuan Mun Leong, said that average selling prices (ASPs) of rubber gloves have increased substantially in the first quarter ended June 30, 2026, due to supply disruptions linked to geopolitical tensions in the Middle East.
The ASPs are influenced by several factors, including raw material costs, market demand and supply, as well as competition. Kuan said there is a strong correlation between butadiene, a major feedstock for nitrile material, and oil prices, which have surged to around US$120 per barrel in April from about US$60 per barrel in December last year.
Hartalega expects feedstock costs to continue increasing, with butadiene currently trading at around US$1,500 per ton. However, some markets have already seen it rise to US$2,000 per ton this week alone.
The global glove demand is expected to reach about 330 billion pieces in 2026, surpassing the estimated 219 billion pieces in 2019 before Covid-19. Hartalega continues to face an oversupply situation, with some new manufacturers that announced capacity during the pandemic never commencing operations.