Trade Finance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Trade Finance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global trade finance market size reached US$ 48.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 70.0 Billion by 2028, exhibiting a growth rate (CAGR) of 6.2% during 2023-2028.

Trade finance, or export finance, refers to various financial products that are used by organizations to manage international trade and commerce. It is commonly used by banks, trade finance companies, export credit agencies, importers and exporters. Unlike general finance, trade finance introduces a third party to the transactions and is primarily used to streamline cash flow and provide protection against the risks of international trade, such as currency fluctuations, political instability and instances of non-payment.

Global Trade Finance Market Trends:

The global market for trade finance is primarily being driven by rapid urbanization and the steadily growing global trade. Furthermore, the integration of advanced technologies, such as blockchain, artificial intelligence (AI), machine learning (ML) and the Internet of Things (IoT) with trade finance, is also providing a boost to the market growth. These technologies enable the organizations to use chatbots, natural language processing (NLP) and predictive analysis to recognize market patterns, resolve concerns, anticipate demand and take appropriate measures. Additionally, the increasing utilization of electronic systems, such as optical character recognition (OCR), quick response (QR) codes and radio frequency identification (RFID) readers, to enhance the digitization of trade financing operations, is acting as another growth-inducing factor. In comparison to the traditionally used methods, these devices also aid in streamlining the manual process of document identification and simplifying trade transactions. Other factors, including the introduction of clearinghouses that analyze the financial capabilities of buyers and sellers, along with the implementation of favorable government policies and growing investments in the banking, financial services and insurance (BFSI) sector, are projected to drive the market in the coming years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global trade finance market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on finance type, offering, service provider and end-user.

Breakup by Finance Type:

Structured Trade Finance
Supply Chain Finance
Traditional Trade Finance


Breakup by Offering:

Letters of Credit
Bill of Lading
Export Factoring
Insurance
Others


Breakup by Service Provider:

Banks
Trade Finance Houses


Breakup by End-User:

Small and Medium Sized Enterprises (SMEs)
Large Enterprises


Breakup by Region:

North America

United States
Canada


Asia Pacific

China
Japan
India
South Korea
Australia
Indonesia
Others


Europe

Germany
France
United Kingdom
Italy
Spain
Russia
Others


Latin America

Brazil
Mexico
Others


Middle East and Africa


Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being Asian Development Bank, Banco Santander SA, Bank of America Corp., BNP Paribas SA, Citigroup Inc., Crédit Agricole Group, Euler Hermes, Goldman Sachs Group Inc., HSBC Holdings Plc, JPMorgan Chase & Co., Mitsubishi Ufj Financial Group Inc., Morgan Stanley, Royal Bank of Scotland, Standard Chartered Bank and Wells Fargo & Co., etc.

IMARC Group’s latest report provides a deep insight into the global trade finance market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the trade finance market in any manner.

Key Questions Answered in This Report:

What was the size of the global trade finance market in 2022?
What is the expected growth rate of the global trade finance market during 2023-2028?
What are the key factors driving the global trade finance market?
What has been the impact of COVID-19 on the global trade finance market?
What is the breakup of the global trade finance market based on the finance type?
What is the breakup of the global trade finance market based on the offering?
What is the breakup of the global trade finance market based on the service provider?
What is the breakup of the global trade finance market based on the end-user?
What are the key regions in the global trade finance market?
Who are the key players/companies in the global trade finance market?