A lead analyst at AMR has highlighted that the trade finance market across Asia-Pacific is anticipated to grow at the fastest CAGR during the forecast period.
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Allied Market Research published a research report on the trade finance market. The findings of the report state that the global market for trade finance generated $44.09 billion in 2020, and is projected to reach $90.21 billion by 2030, witnessing a CAGR of 7.4% from 2021 to 2030. The report offers valuable information on changing market dynamics, major segments, top investment pockets, and competitive scenarios for market players, investors, shareholders, and new entrants.
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“The bank’s segment of the trade finance market is expected to experience significant growth in the coming years, owing to the fact that banks act as intermediaries in the trade finance ecosystem to provide inter-firm trade credits to buyers, sellers, and other parties involved in the trade,” said Pramod Borasi, Senior Research Associate- BFSI at Allied Market Research.
The report provides insights on the drivers, restraints, and opportunities to help the market players in devising growth strategies and capitalizing on opportunities. The rise in demand for safety and security in trading activities, the surge in its adoption by small & medium enterprises (SMEs), and new trade agreements in developing countries drive the growth of the global trade finance market. On the other hand, the increase in trade wars and the high cost of implementation impede market growth to some extent. On the other hand, the integration of blockchain in trade finance has paved the way for lucrative opportunities in the coming years.
The report provides a detailed scenario of the impact of the Covid-19 pandemic on the trade finance market globally. It is helpful for the market players, new entrants, and investors to determine strategies as per the current scenario and formulate appropriate business models for the next few years. The outbreak of the pandemic affected the capacity of banks in emerging economies to supply trade finance. Most countries also experienced a surge in failures by traders to fulfill payments, in industries such as airlines, aeronautics, and tourism. These factors had a sheer negative impact on the global trade finance market. However, as the global situation started getting back to normalcy, the market for trade finance also recouped slowly and steadily.
The report also offers detailed segmentation of the global trade finance market based on product type, provider, application, end user, and region. These insights are helpful for new as well as existing market players to capitalize on the fastest-growing and largest revenue-generating segments to accomplish growth in the future.
The report also offers detailed segmentation of the global trade finance market based on application, end user, and region. These insights are helpful for new as well as existing market players to capitalize on the fastest-growing and largest revenue-generating segments to accomplish growth in the future.
By product type, the commercial letters of credit (LCs) segment accounted for the highest share in 2020, holding more than two-fifths of the global trade finance market revenue, and is projected to retain its dominance during the forecast period. On the other hand, the guarantees segment would portray the fastest CAGR of 9.0% from 2021 to 2030.
By end user, the importers’ segment held the major share in 2020, garnering nearly three-fifths of the global trade finance market revenue, and is expected to rule the roost during the forecast period. Simultaneously, the traders’ segment is estimated to cite the fastest CAGR of 15.5% from 2021 to 2030.
By region, Asia-Pacific garnered the major market share in 2020, holding nearly two-fifths of the global trade finance market revenue. Moreover, this region is also projected to garner the fastest CAGR of 10.0% throughout the forecast period.
Leading market players of the global trade finance market analyzed in the report include BNP Paribas S.A., Citigroup Inc., Asian Development Bank, Euler Hermes Group, Bank of America Corporation, HSBC Holdings PLC, JPMorgan Chase & Co, The Royal Bank of Scotland Group plc, Standard Chartered PLC, and Mitsubishi UFJ Financial Inc.
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