Financial market to reach $90.2 billion by 2030 with a growth rate of 7.4

WILMINGTON, Delaware, Oct. 30, 2023 (GLOBE NEWSWIRE) - Allied Market Research has published a report titled "Trade Finance Market by Product Type (Guarantees, Standalone Letters of Credit (LCs), commercial letters of credit (LCs), and others), by provider (trade financial institutions, banks, and others), by application (international and domestic), and by end-user (traders, exporters, and importers): Global Opportunity Analysis and Industry Forecast, 2021-2030".

According to the report, the global trading and finance industry is valued at $90,212 million by 2030, after reaching a value of $44,098 million in 2020, at a CAGR of 7.4% during the forecast period.

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Major market growth factors:

• The growth of the global trade finance market is attributed to the growing need for enhanced security and protection in the trading environment, increasing adoption of SMEs in developing countries and new trade agreements.
• On the other hand, rising trade war and high implementation costs are restricting the growth of themarket.
• The use of blockchain technology in trade finance provides lucrative opportunities for market expansion.

Commercial letters of credit (LCs) will lead the market during the forecast period. By product type, the commercial letters of credit (LCs) segment held the major market share in 2020, contributing more than two-fifths of the global trade finance market, and is expected to lead during the forecast period as well. This is due to increasing international trade, differences in the laws of each country, language differences, and the complexity of personal interaction between parties. In addition, the guarantees segment will have the fastest compound annual growth rate of 9.0% from 2021 to 2030.

SegmentThe importers segment will maintain its leadership throughout the forecast period. In terms of end users, the importers segment held the major market share in 2020, accounting for nearly three-fifths of the total trade finance market, and is expected to maintain its leadership over the forecast period. This is due to increasing operational costs, increased competition, and additional risks such as data breach, increased protection for importers, market abuse scandals, regulatory misimplementation, and growth in direct trade execution.

The traders segment is expected to register the fastest compound annual growth rate of 15.5% during the forecast period. This is attributed to the utilization offunds before export shipments are dispatched and avoid financial difficulties. In addition, trade finance improves supply chain efficiency for traders.

Asia Pacific will gain major market share by 2030. By region, Asia Pacific gained major market share in 2020, accounting for nearly two-fifths of the total trade finance market and is likely to dominate the market by 2030.

The same region will also register the fastest compound annual growth rate of 10.0% over the forecast period. This is due to the high demand for trade finance to provide security in trade operations for businesses and banks in the region.

The leading industry players: - ReportProvides a detailed assessment of the key players in the global trade finance market. These players are employing various strategies such as new product launches, geographical expansion, partnerships, and agreements to increase their market dominance and strengthen their position in the industry. The report helps to identify the business productivity, key market segments, advancements, and product portfolios of the leading market players to highlight the competitive position.

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Stakeholder benefits:

• Key segments of the trade finance market:
• By product type:
• By product type:
to provider:
• Application:
• By end user:
• Region:

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