In March 2020, around two dozen countries — including Russia, Turkey, Iran, Pakistan, India, China, Kenya, Morocco, France, the UK, the Netherlands, Finland and the Czech Republic — restricted exports of medical supplies, including gloves. Prices for nitrile gloves, a name synonymous with medical-grade protection, rose by as much as 300–1,200%.
Globally, nitrile ranks second only to latex in demand, and costs more, but outperforms latex in protection against chemicals, infection and abrasion. Its powder-free variant further reduces the risk of skin irritation, cross-contamination in food handling, and latex allergy reactions.
Nitrile gloves are made from rubber grown in hot, tropical climates and are exported mainly from Malaysia and China. A 2018 US ban on powdered gloves, followed by Section 301 tariffs on Chinese imports, widened the supply gap as other producing countries struggled to match China's material availability and production capacity.
Demand for nitrile gloves has been driven disproportionately by developed economies — the EU, US and Japan account for roughly 68% of demand — but growth in the Middle East and North Africa has also been significant, supported by falling oil prices encouraging a shift away from latex.
In October 2021, the Indian government moved nitrile gloves from a 'prohibited' to a 'restricted' import category, easing some of the earlier supply constraints.
This market commentary is provided by Merchant Trade Guarantee Corporation Company Limited (MTG), a non-bank financial company specialising in trade and structured-finance consultancy since 2000.