BANGALORE, India, Feb. 8, 2021 /PRNewswire/ — The Trade Finance Market is Segmented by Type (Letters of Credit, Guarantees, Supply Chain Finance, Factoring, Documentary Collection, Other), Application (Finance, Energy, Power Generation, Transport, Renewables, Metals & Non Metallic Minerals, Other): Global Opportunity Analysis and Industry Forecast, 2021-2026. This report is published on Valuates Reports in the Finance & Banking Category.
Trade Finance signifies financing for trade, and it relates to both domestic and international trade transactions. A trade transaction involves both a seller and a purchaser of goods and services. These transactions may facilitate through intermediaries, such as banks and financial institutions.
The global Trade Finance market size was valued at USD 8942.27 Billion in 2019, due to Covid-19, the market dropped to USD 7616.52 Billion in 2020, and it is expected to reach USD 10426.67 Billion by the end of 2026, growing at a CAGR of 5.37% during the forecast period 2020-2026.
Approximately 80 to 90% of world trade is dependent on trade finance, which includes trade credit and guarantees. Exporters and importers from less-developed countries have to pay very high fees, which raise their exchange costs, whereas low-interest rates and fees offered by international banks favor traders from developed countries.
This report focuses on global trade finance market size, future forecasts, growth opportunities, key markets, and key players. The aims of the study are to present the growth of Trade Finance in North America, Europe, China, Japan, Southeast Asia, India, and Central & South America.
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TRENDS INFLUENCING THE TRADE FINANCE MARKET SIZE
Increasing worldwide import and export is the main factor that is expected to increase the trade finance market size during the forecast period.
Developing technologies such as optical character recognition (OCR) to read container numbers, radio frequency identification (RFID), and quick response (QR) codes to identify and track shipments, enhance the digitization of trading documents, and in turn, is expected to act as a catalyst for the growth of trading finance market size.
Strategic development and the implementation of structuring and pricing methods are expected to provide growth opportunities for the trade finance market size.
Technologies such as blockchain, artificial intelligence (AI), machine learning (ML), and the Internet of Things ( IoT) are being applied increasingly in commercial finance. AI and ML use natural language processing ( NLP), chatbots, and predictive analytics to address problems, recognize trends, foresee demand, and provide business recommendations. AI also helps automate the process of trading documents and ensure that electronic forms are delivered to stakeholders at the appropriate time during the trading process. Market vendors also integrate blockchain technology with trade finance to increase efficiency and simplify the invoice finance transaction from end to end. The integration of technology to improve the business financing cycle’s efficiency will be one of the main industry developments that will boost the trade finance market size.
Banks act as intermediaries in the commercial finance ecosystem to provide intercompany trade credits to purchasers, sellers, and other trading parties. Business support provided by banks and their ability to mitigate payment risk by buying trade credit insurance boost market growth. In addition, banks are improving trade finance processes by turning their paper-based approaches into more efficient and transparent digitized models and thereby becoming the highest service providers on the market for commercial finance.
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TRADE FINANCE MARKET SHARE ANALYSIS
Based on type, the Supply Chain Finance segment is expected to witness the highest growth.
As Covid-19 tightened corporate liquidity, the Supply Chain Finance (SCF) programs were on the rise. However, questions were raised about the disclosure regulations of such systems, as well as the actions of corporate buyers and SCF providers.
Based on region, APAC held the largest trade finance market share in 2019.
Growing government funding to improve trade finance for increased exports would significantly affect the growth of the trade finance market share in this region. China is among APAC’s main trade finance markets. In this region, demand growth would be higher than business growth in other regions.
In the trade finance market, LAMEA and North America jointly accounted for higher revenues.
In terms of revenue, the LAMEA region dominated the trade finance sector in 2018 and is expected to retain its dominance during the forecast period due to higher oil production and large-scale exports, and agency finance services. Moreover, the U.S. export and agency funding strengthens export opportunities by engaging in large-scale project planning activities and developing sustainable infrastructure that contributes to regional economic development.
Europe is projected to rise at the fastest pace in the forecast period due to the involvement of export credit agencies (ECA) conducting foreign trade, strengthening government policy, and facilitating trade across the globe.
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TRADE FINANCE MARKET SEGMENTS
Trade Finance Market Segment by Type
- Letters of Credit
- Supply Chain Finance
- Documentary Collection
Trade Finance Market Segment by Application
- Power Generation
- Metals & Non Metallic Minerals
- BNP Paribas
- Bank of China
- Citigroup Inc
- China Exim Bank
- JPMorgan Chase & Co
- Mizuho Financial Group
- Standard Chartered
- Sumitomo Mitsui Banking Corporation
- Credit Agricole
- Riyad Bank
- Saudi British Bank
- Japan Exim Bank
- Banque Saudi Fransi
- AlAhli Bank
- Export-Import Bank of India.
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