Trade Finance Market To Reach USD 11631260 Million By 2029, Witnessing A CAGR of 5.4% | Valuates Reports

BANGALORE, India, March 29, 2023 /PRNewswire/ -- Trade Finance Market is Segment by Type - Letters of Credit, Guarantees, Supply Chain Finance, Factoring, Documentary Collection, Other, by Application - Finance, Energy, Power Generation, Transport, Renewables, Metals & Non Metallic Minerals, Other. Global Opportunity Analysis and Industry Forecast, 2023–2029. It is published in Valuates Reports under the Software Category.

The global Trade Finance market was valued at USD 8483660 million in 2022 and is anticipated to reach USD 11631260 million by 2029, witnessing a CAGR of 5.4% during the forecast period 2023-2029. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.

Major factors driving the growth of the Trade Finance market are

Factors such as a Need For A More Transparent And Liquid Market For Trade Finance Assets, Increase in the Use of Trade Financing by SMEs in Developing Countries are expected to drive the growth of the Trade Finance market.

The Uptake of trade financing is changing, and there may be digital and technological drivers that could speed adoption.  Moreover, benefits including convenience, flexibility, security, and transaction flow are anticipated to grow over time.

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TRENDS INFLUENCING THE GROWTH OF TRADE FINANCE MARKET

World trade offers tremendous business potential, but many businesses, particularly small and medium-sized enterprises (SMEs), rely on access to financial services to open up new markets. Trade finance enables businesses to reduce the risks involved in importing or exporting products and services, enabling predictable and secure global trade. This factor is expected to drive the growth of the Trade Finance market

There is a growing desire in shifting risk away from banks and towards non-traditional sources of capital, such as investment funds with significant capital and liquidity, as a result of increased regulation and growth in global trade. Notwithstanding the allure of trade assets, there are several obstacles to expanding the market for this asset class, which institutions should cooperate to overcome. Banks can perform a number of actions, including populating an ICC Trade Finance Registry, enhancing settlement and liquidity definitions, and developing a number of Trade Finance Market indices.

Small and medium-sized businesses (SMEs) struggle the most to find finance with favorable terms. This is especially concerning because SMEs are a major force in commerce, employment, and economic growth. According to research, SMEs encounter these obstacles in both rich and developing nations, but the difficulties are greater in low-income nations. This often results from their relatively tiny banking sectors and the lack of interest on the part of international financial institutions to conduct business in those nations, a situation that has become much worse since the financial crisis. This factor is expected to drive the growth of the Trade Finance market

Trade finance adoption has recently shifted away from conventional products and towards supply chain finance and open accounts. Globalization and technology, including easy communication and access to data that is almost always current, have played a significant role in this transformation by creating chances to release liquidity early in the supply chain. In contrast, SMEs find it more challenging to enter the trade finance sector because of inadequate risk evaluations, poorer credit ratings, and KYC restrictions. This discrepancy suggests that there is a sizable latent demand for more conventional financial products, which presents a huge potential for banks.

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TRADE FINANCE MARKET SHARE ANALYSIS

Trade finance can be broadly categorized into Guarantees, Letters of Credit, Documentary Collection, Supply Chain Financing, and Factoring. In 2019, the proportion of Letters of Credit is the largest, accounting for about 39%.

The Value of the top ten manufacturers accounts for about 14% of the total Value in 2019.

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Market By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa

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Key players

• BNP Paribas
• Bank of China
• Citigroup Inc
• China Exim Bank
• ICBC
• JPMorgan Chase & Co
• Mizuho Financial Group
• Standard Chartered
• MUFG
• Sumitomo Mitsui Banking Corporation
• Credit Agricole
• Commerzbank
• HSBC
• Riyad Bank
• Saudi British Bank
• ANZ
• EBRD
• Japan Exim Bank
• Banque Saudi Fransi
• Afreximbank
• AlAhli Bank
• Export-Import Bank of India

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