Global Trade Finance Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Trade Finance Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Trade finance is a financial tool and product used by companies to promote trade and commerce. By introducing a third party to the transaction to eliminate payment risk and supply risk, trade finance makes it easier for buyer and seller to conduct trade. Trade finance will provide seller with receivables or payments based on agreements, and buyer may obtain credit to fulfill trade orders.

Market Overview:

The latest research study on the global Trade Finance market finds that the global Trade Finance market reached a value of USD 54048.72 million in 2022. It’s expected that the market will achieve USD 64537.01 million by 2028, exhibiting a CAGR of 3.0% during the forecast period.

Drivers

Trade finance and trade are closely linked. If trade decreases and the economy goes down, the trade finance industry will also suffer. In recent years, all countries have been actively pursuing policies to promote the development of trade. For example, China has proposed a cooperative initiative to build the The Belt and Road. By relying on the existing bilateral and multilateral mechanisms between China and relevant countries, with the help of existing and proven regional cooperation platforms, they actively develop economic partnerships with countries along the route and promote the development of trade.
Trade finance is always closely linked with trade, providing financial support for all parties in trade activities. In the trade process, trade finance plays the role of lubricant and catalyst. In recent years, in response to the new characteristics of trade development, commercial banks have developed, innovated and promoted many new trade financing products, including forfaiting, factoring, accounts receivable pledge financing, credit insurance financing, order financing, and mortgage financing , risk participation, trade financing and capital product portfolio and so on.

Region Overview:

China had the highest growth rate of all regions.

Company Overview:

The top three companies are HSBC, ICBC, China Construction Bank with the revenue market share of 8.58%, 8.06% and 6.46% in 2019.

HSBC is a major bank in Hong Kong, and operates branches and offices in the Asia-Pacific region and other countries/regions in the world. It is also one of the three commercial banks that issue Hong Kong dollar notes issued by the Hong Kong Monetary Authority. The company's business scope covers retail banking, commercial banking, private banking and global banks.

ICBC is a Chinese multinational banking company. The company was established in January 1984. ICBC is a state-owned commercial bank.

Segmentation Overview:

Among different product types, Export Credit segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the International segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Trade Finance market covered in Chapter 3:

ANZ
JPMorgan Chase
UniCredit
China Construction Bank
Commerzbank
Mizuho Financial Group
Mitsubishi UFJ Financial
Deutsche Bank
HSBC
Standard Chartered
Santander
Morgan Stanley
ICBC
Truist Financial Corporation
BNP Paribas
Citigroup
Credit Agricole
Paragon Financial

In Chapter 4 and Chapter 14.2, on the basis of types, the Trade Finance market from 2018 to 2029 is primarily split into:

Factoring
Export Credit
Insurance
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Trade Finance market from 2018 to 2029 covers:

Domestic
International

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)