Westford, USA, Oct. 15, 2024 (GLOBE NEWSWIRE) — SkyQuest projects that the trade finance market will attain a value of USD 87.81 billion by 2031, with a CAGR of 7.5% over the forecast period (2024-2031). Increasing international trade volumes, ongoing digital transformation, and the rise of emerging economies as key players in global trade are slated to drive the demand for Trade Finance over the coming years. Reduced paperwork, enhanced transparency, and accelerated transaction speeds are some key benefits of trade finance that are expected to benefit market development in the future.

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Browse in-depth TOC on “Trade Finance Market” Pages – 197, Tables – 95, Figures – 76

Trade Finance Market Overview:

Credit and Guarantees Account for a Dominant Share of the Global Trade Finance Demand

High use of credit by trade organizations around the world for their operations is projected to help the high market share of the credit and guarantees segment. Rising volume of international trade transactions and the growing need for bigger capital are also expected to help promote the dominance of this segment over the coming years.

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Demand for Trade Finance for Agriculture Applications is Slated to Rise at a Noteworthy Pace Going Forward

Rapidly increasing global population and expansion of commodity markets have resulted in the growing need for trade finance in the agriculture industry. Rising imports and exports of different agricultural products around the world are also expected to help create new opportunities for trade finance companies in the future. Rising emphasis of governments to improve food security of their countries will also benefit trade finance market growth going forward.

North America Estimated to Spearhead the Demand for Trade finance Owing to High Trade Activity

North America has emerged as a global trade hub for multiple commodities, and this has allowed it to become the top spot for trade finance companies as well. The presence of a strong economy and robust international trade activity in this region are also expected to generate new business scope for trade finance providers in the long run. The United States and Canada are slated to bring in major revenue for trade finance companies operating in the North American region.

Trade Finance Market Insights:

Drivers

• Growing international trade volumes
• Increasing development of emerging economies around the world
• High demand for capital for trade

Restraints

• High complexity of trade finance offerings
• Increasing costs of trade finance services

Prominent Players in Trade Finance Market

• Citigroup Inc. (US)
• BNP Paribas SA (France)
• HSBC Holdings plc (UK)
• Mitsubishi UFJ Financial Group, Inc. (Japan)
• JPMorgan Chase & Co. (US)
• UniCredit S.p.A. (Italy)
• Credit Agricole Group (France)
• Santander Group (Spain)
• Bank of America Corporation (US)
• Standard Chartered Bank (UK)

Key Questions Answered in Trade Finance Market Report

• What drives the global market growth?

• Who are the leading Trade Finance providers in the world?

• Which region leads the demand for Trade Finance in the world?

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This report provides the following insights:

Analysis of key drivers (rapidly increasing international trade volumes, rising development of emerging countries), restraints (complexity of trade finance offering, high costs of trade finance services), and opportunities (use of blockchain and artificial intelligence technologies), influencing the growth of Trade Finance market.

• Market Penetration: All-inclusive analysis of product portfolio of different market players and status of new product launches.
• Product Development/Innovation: Elaborate assessment of R&D activities, new product development, and upcoming trends of the Trade Finance market.
• Market Development: Detailed analysis of potential regions where the market has potential to grow.
• Market Diversification: Comprehensive assessment of new product launches, recent developments, and emerging regional markets.
• Competitive Landscape: Detailed analysis of growth strategies, revenue analysis, and product innovation by new and established market players.

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