01 / The Company
Who Is Karex and Why Does Its Warning Matter Globally?
Karex is the world's largest condom manufacturer — a Malaysian company founded in 1988 in Johor that produces over 5 billion condoms annually and exports to more than 130 countries. When Karex warns of a price increase, it affects the global supply of sexual health products.
The Company Behind Your Condom
Most consumers have never heard of Karex, but they have almost certainly used one of its products. The company manufactures condoms sold under brands including ONE, Trustex, Carex, and Pasante — and it is a key supplier to the Durex and Trojan brands, two of the most recognised names in global sexual health.
Karex also supplies institutional buyers: the UK's National Health Service, the United Nations Population Fund (UNFPA), and the Global Fund to Fight AIDS, Tuberculosis and Malaria all source condoms from Karex. That means a Karex price increase affects not only retail consumers but publicly funded sexual health systems worldwide.
5B+
Annual Production
More than 5 billion condoms produced each year — making Karex the dominant global manufacturer by volume.
130+
Export Countries
Karex supplies distributors and institutional buyers in more than 130 countries across every continent.
1988
Founded, Malaysia
Headquartered in Port Klang, Malaysia — strategically positioned near major Southeast Asian rubber supply chains.
+30%
Anticipated Price Hike
CEO Goh Miah Kiat told Reuters on April 22, 2026 that price increases of 20–30% may be unavoidable.
02 / The Mechanism
Why Does the Iran War Affect the Price of Condoms?
The Iran war — which began in late February 2026 — caused the effective closure of the Strait of Hormuz, the narrow waterway through which roughly 20% of global oil and petrochemical products pass. Condoms are made from petroleum-derived materials, making them directly vulnerable to this disruption.
The Strait of Hormuz Is the Choke Point
The Strait of Hormuz is the world's most strategically critical maritime passage for energy supplies. At its narrowest, it is just 33 kilometres wide, and it connects the Persian Gulf — where much of the world's oil and natural gas is extracted — to the open ocean. The Iran war has led to a virtual stoppage of commercial shipping through the strait since late February 2026.
This is not just an oil story. Petrochemicals derived from oil and natural gas are used in more than 6,000 consumer products, according to the US Department of Energy. Condoms are one of them — they require synthetic rubber (latex), nitrile, silicone oil lubricants, and plastic packaging materials, all of which are petrochemical derivatives.
Malaysia's Rubber Industry Depends on Global Supply Chains
Although Malaysia is a major rubber-producing country, Karex's manufacturing also depends on synthetic rubber and chemical inputs that are sourced globally. Synthetic rubber (used in latex condoms) and nitrile (used in latex-free condoms) are both derived from petrochemicals — making them directly affected by disruptions to Middle Eastern oil supply chains.
Since the war began, Karex has experienced cost increases for synthetic rubber, nitrile, aluminium foils for packaging, and silicone oil used as lubricant. The company's CEO confirmed to Reuters on April 22, 2026 that these cost increases are being passed directly to customers: "We have no choice but to transfer the costs right now to the customers."
⚠️ Tariff Compounding Effect
The Karex US subsidiary, Global Protection Corp., noted that the Iran war disruption is compounding existing problems from trade tariffs. "Ironically, this has been like adding fuel to the fire since we are still struggling to adapt to tariffs," said CEO Davin Wedel. "We haven't been able to raise prices or cut costs enough to cover current tariff expenses."
03 / The Numbers
What Has Gotten More Expensive — The Full Cost Breakdown?
Global Protection Corp., Karex's US subsidiary, provided CNN with a detailed breakdown of cost increases across every major input in condom manufacturing since the Iran war began in February 2026. The numbers are striking.
| Material / Input | Price Increase | Role in Condom Manufacturing |
|---|---|---|
| Nitrile (non-latex) | +100% | Key material for latex-free condoms; doubled in price since February 2026 |
| Latex (synthetic rubber) | +30% | Primary material for standard male condoms; 30% cost increase directly raises per-unit cost |
| Foil packaging (aluminium) | +20–30% | The individual wrapper around each condom; petrochemical-derived plastics component |
| Condom lubricant (silicone oil) | +25% | Applied to every condom during manufacturing; silicone oil derived from petrochemical processes |
| Shipping / logistics | +50–70% | Shipping times to Europe and the US have doubled from ~1 month to ~2 months; some vessels stuck in transit |
Karex Input Cost Increases Since Iran War Began — February to April 2026
Source: CNN interview with Global Protection Corp. CEO Davin Wedel, April 22, 2026. Shipping data: Reuters / Karex CEO statement.
04 / Consumer Impact
What Does This Mean for Consumers Buying Condoms?
Demand for condoms has risen approximately 30% since the Iran war began, according to Karex CEO Goh Miah Kiat — which means higher prices are arriving at exactly the moment demand is increasing, creating a potential affordability squeeze.
Price Increases Are Not Yet Confirmed — But the Direction Is Clear
As of April 22, 2026, the price increases have not yet reached retail shelves. Karex's US subsidiary, Global Protection Corp., stated it does not plan to pass costs to consumers yet — pending a clearer picture of whether the disruption is temporary or sustained. But CEO Davin Wedel was explicit: if the Strait of Hormuz remains closed, retail price increases are inevitable.
The timeline from Karex manufacturing to retail shelves typically spans several months — meaning consumers should expect to see price changes in summer 2026 if the conflict continues. Latex-free condoms (nitrile-based) face the most extreme cost pressure, with input costs doubling, and could see larger retail price increases than standard latex products.
Demand Has Already Spiked +30%
Karex's CEO told Reuters that condom demand has risen approximately 30% since the war began — a counterintuitive pattern that has been observed in other conflict periods. Heightened uncertainty, population displacement, and reproductive health concerns during geopolitical crises tend to drive up demand for contraception and protection.
A simultaneous demand spike and supply cost increase creates the most challenging market conditions in the condom industry since the COVID-19 pandemic supply chain disruptions of 2021. Karex states it has enough supplies for the next few months and is looking to boost output — but if the Strait of Hormuz closure continues, raw material shortages could eventually constrain production capacity.
The Affordability Question
A 20–30% retail price increase on condoms disproportionately affects lower-income consumers who already face barriers to consistent sexual health protection. For context, a box of 12 Trojan condoms retails at approximately $12–15 in the US — a 30% increase would add $3.60–$4.50 per box. For institutional buyers supplying condoms in developing countries, even smaller percentage increases translate to significant coverage gaps.
05 / Global Health
What Is the Global Sexual Health Risk From This Supply Disruption?
The risk extends well beyond price — condom shortages in lower-income countries could have direct consequences for HIV/AIDS prevention, STI transmission rates, and family planning programs that are already under pressure.
UNFPA and NHS Already Feel the Impact
Karex supplies both the United Nations Population Fund and the UK's National Health Service — two of the largest institutional buyers of condoms in the world. Disruptions to these supply chains affect public health programs, not just retail consumers. A supply delay or price increase that reduces procurement volumes has direct downstream consequences for STI prevention and family planning in countries that depend on donor-funded condom distribution.
Nigeria reported a 55% decline in male condom distribution between December 2024 and March 2025, according to UNAIDS data published by Euronews — a supply chain fragility that predates the Iran war. The Karex disruption risks compounding existing shortages in Sub-Saharan Africa and Southeast Asia, where institutional condom procurement is already constrained by funding limitations.
The Shortage Risk Is Real If Hormuz Stays Closed
Global Protection Corp.'s CEO stated the most alarming scenario directly: "if the Strait of Hormuz remains closed, not only will our cost increases get worse but we may end up with condom shortages due to lack of raw materials to make enough condoms to meet consumer demand."
Karex currently has supply buffer for "the next few months" — suggesting that if the conflict extends beyond mid-to-late 2026, production constraints could materialise. The nitrile supply chain is the most vulnerable: a 100% cost increase is already straining production of latex-free products, and if raw material availability tightens further, non-latex condom lines may face production cuts before standard latex products do.
Condom Market Stress Indicators Since Iran War Began (February–April 2026)
06 / What's Next
What Happens If the Strait of Hormuz Stays Closed?
The duration of the Iran war and the continued closure of the Strait of Hormuz will determine whether this remains a temporary cost pressure or escalates into a genuine condom shortage — with consequences for public health programs, retail consumers, and the adult industry.
Short-Term: Price Increases (Already Underway)
In the short term — the next 3–6 months — retail price increases are the primary risk. Karex's manufacturing cost structure has already changed significantly. Even if the strait reopened tomorrow, it would take time for input costs to normalise and for those savings to flow back through to retail pricing. Consumers buying condoms in summer or autumn 2026 should expect to pay more than they did at the start of the year.
Latex-free and specialty condom products face the largest price jumps — potentially approaching or exceeding 40–50% at retail given that nitrile costs have doubled. Standard latex products should see increases closer to the 20–30% range Karex has announced.
Medium-Term: Potential Shortages If Disruption Continues
If the Strait of Hormuz remains effectively closed into the second half of 2026, raw material availability may become a production constraint — not just a cost issue. Global Protection Corp. explicitly warned of this scenario in its statement to CNN. At that point, the question is no longer "how much will condoms cost?" but "are there enough?"
The adult industry is affected directly — condoms are a standard production expense for professional adult content studios operating under safety protocols. A significant price increase in protective equipment is a cost of production, not just a consumer issue. For context on how geopolitical and regulatory developments are reshaping the economics of the adult industry, see our industry statistics coverage and our 2025–2030 industry outlook.
🚨 Worst Case Scenario
"If the Strait of Hormuz remains closed, not only will our cost increases get worse but we may end up with condom shortages due to lack of raw materials to make enough condoms to meet consumer demand." — Davin Wedel, CEO, Global Protection Corp. (CNN, April 22, 2026)
Key Facts — What You Need to Know
- Karex is the world's largest condom manufacturer, producing 5B+ condoms per year and supplying brands including Durex, Trojan, NHS, UNFPA, and the Global Fund.
- The Iran war closed the Strait of Hormuz in late February 2026, cutting off petrochemical supplies that are essential for condom manufacturing.
- Nitrile (latex-free condom material) has doubled in price (+100%). Latex is up 30%, lubricant up 25%, and packaging up 20–30%.
- Shipping times from Malaysia to Europe and the US have doubled — from approximately 1 month to 2 months. Some vessels are stuck in transit.
- Condom demand has risen 30% since the war began — higher costs are arriving at the worst possible time for affordability.
- Retail price increases of 20–30% are anticipated. Latex-free products may see larger jumps given nitrile's 100% cost increase.
- A shortage scenario is explicitly on the table if raw material supply chains remain disrupted into the second half of 2026.
