KUALA LUMPUR, January 1 – Total exports of rubber products up to the third quarter of 2022 were RM21.858 billion compared to RM52.204 billion in the previous year. Meanwhile, the export of rubber in 2021 was RM6.872 billion, with an increase of 0.16% for the year 2022, this totaled the numbers to RM6.882 billion. The development of non-glove latex products has continued to have a positive effect on the overall rubber products sector.
In comparison to the third quarter of 2021, which had a value of RM1.295 billion. The third quarter of 2022 had a value of RM1.805 billion, representing a 39.4% expansion. Products like foam products, latex thread, catheters, condoms and rubber toys are examples of these differences. Rubber toys have seen biggest growth in the third quarter, rising by 155.0% to RM83.6 million from RM32.8 million in the same period in 2021.
Following the first half of 2022, foam products have also experienced a significant increase. This was demonstrated by the fact that it rose from RM108.2 million in the third quarter of 2021 to RM274.3 million in the third quarter of this year, a difference of 153.5%. Our operational outcomes have been extremely positive. This was anticipated by the rise in exports of general and industrial rubber goods to the Philippines, the United States, Australia, and Singapore during the third quarter.
In order to strengthen and maintain this positive trend, we will dig deeper into foam products that are driving the growth in general and industrial rubber goods,” added Encik Hizwan. MRC has launched countless initiatives since the start of 2022 to help elevate the local rubber industry and raise the bar for rubber products to be competitive in the global market. In September, MRC facilitated and witnessed the highly anticipated signing of cooperation between Green Space Industries, Cranfield University, and Levidian Nanosystem Ltd. in Bedford, United Kingdom.
This is a component of MRC’s plan to raise the caliber and prestige of Malaysian rubber goods. Since graphene can now be produced from methane, Nor Hizwan said, “This is a very interesting discovery. As a result of our ability to create such a valuable composite and combine it with natural rubber to create an extremely robust and sustainable aerospace balloon, more doors will open up for us.” On top of that, in November 2022, MRC together with several Malaysian companies had successfully participated in MEDICA in Düsseldorf, Germany.
It is one of the largest medical trade shows in the world. Since its founding more than 40 years ago, the event has become firmly established as the must-attend tradeshow for medical devices, drawing professionals in business, research, and politics to grace the event along with thousands of global and national experts and decision-makers. MRC will take part in Automechanika Shanghai which will be held in December 2022 as well. This is yet another important annual event, but it primarily pertains to China’s automotive industry, specifically the aftermarket sector.
This international gathering has grown to become Asia’s biggest trade show for products and services related to the automotive industry. Leading international companies looking to expand into the area can use the business, market, service, and technology-driven platform offered by Automechanika Shanghai. MRC also co-organized TARGET Program Information for Small Rubber Farmers with the Malaysian Rubber Board aims to improve the livelihood of rubber smallholders.
During one of the TARGET programmes, MRC handed out donations worth almost RM26,000 to the community of smallholders in Kuantan, Pahang. As for the ongoing Global Fund for Rubber Innovation (GFRI), MRC pulled the curtains down with its last roadshow for this year in Johor, which was held in October 2022. “MRC’s GFRI will serve as an ideal platform to seed innovative inter-disciplinary nonfundamental research with the potential to promote investments in high-value products and technologies within the rubber and rubber products industry.