Global Trade Finance Market to Surpass 75.99 Billion by 2030, Driven by Increasing International Trade Volumes

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SkyQuest projects that the global trade finance market will attain a value of USD 75.99 billion by 2030, with a CAGR of 7.5% during the forecast period (2023-2030). The global trade finance market is expected to continue its growth trajectory. Factors such as increasing international trade volumes, ongoing digital transformation, and the rise of emerging economies as key players in global trade are likely to drive market expansion.

Westford, USA, Jan. 02, 2024 (GLOBE NEWSWIRE) — According to SkyQuest, the ongoing digital transformation within the escalating global demand for food security is revolutionizing the trade finance market landscape. Adopting innovative technologies such as blockchain, AI, and data analytics streamlines processes, reduces operational costs, and enhances transparency, making trade finance more accessible and efficient.

Browse in-depth TOC on the “Trade Finance Market”

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  • Pages – 157
  • Tables – 59
  • Figures – 75

The ascent of emerging economies as pivotal players in the global trade arena is contributing significantly to global market expansion. These countries increasingly integrate into the global supply chain, thus, heightening the demand for trade finance services in the global trade finance market.

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Prominent Players in Global Trade Finance Market

  • Citigroup Inc.
  • BNP Paribas SA
  • HSBC Holdings plc
  • Mitsubishi UFJ Financial Group, Inc.
  • JPMorgan Chase & Co.
  • UniCredit S.p.A.
  • Credit Agricole Group
  • Santander Group
  • Bank of America Corporation
  • Standard Chartered Bank
  • Commerzbank AG
  • Sumitomo Mitsui Financial Group, Inc.
  • Deutsche Bank AG
  • Barclays plc
  • Wells Fargo & Company
  • Societe Generale
  • China Development Bank Corporation
  • China Exim Bank
  • Export-Import Bank of Korea
  • Export-Import Bank of India

Agriculture Segment to Dominate Market due to Rising Global Demand for Food Security

Agriculture segment is poised to emerge as the fastest-growing sector within the global trade finance market, driven by a convergence of critical factors. One of the primary catalysts is the rising global demand for food security as countries seek to ensure a stable and sufficient food supply for their populations.

The market in North America has firmly established its dominance in the global trade finance market. This supremacy can be attributed to the region’s robust financial infrastructure and the formidable presence of global banks and financial institutions.

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Manufacturing Segment is Expected to Witness Significant Growth due to Demand for Trade Finance Products

Manufacturing segment has emerged as a dominant force, primarily attributed to the sheer volume of trade transactions it encompasses compared to the agriculture segment. This dominance is underpinned by the intricate dynamics of the global supply chain, which necessitates the seamless movement of goods and services across international borders in the global trade finance market.

Regional market in Asia-Pacific stands out as the fastest-growing global trade finance market, and several vital factors underpin this remarkable growth. The region has witnessed a surge in small and medium-sized enterprises (SMEs) actively participating in international trade.

A comprehensive analysis of the major players in the global trade finance market has been recently conducted in this report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.

Key Developments in Global Trade Finance Market

  • Credit Suisse took a significant step in 2023 by forging a strategic partnership with blockchain firm ConsenSys. The collaboration aimed to leverage blockchain technology to create an innovative platform geared towards the digitization of trade finance operations. This development signaled a commitment to enhancing efficiency, transparency, and security within the trade finance industry.
  • Barclays made a noteworthy announcement in 2023, revealing its acquisition of TradeIX, a prominent trade finance platform. This acquisition was a strategic maneuver by Barclays to bolster its trade finance capabilities.

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Key Questions Answered in the Global Trade Finance Market Report

  • What specific growth drivers are projected to impact the market during the forecast period?
  • List the top companies in the market and explain how they have achieved their positions of influence.              
  • In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?

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