Press release
ASEAN Trade Finance Market To Be Driven At A CAGR Of 5.3% In The Forecast Period Of 2021-2026
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2021-2026)
Historical Market Size (2020): USD 3.7 Billion
Forecast CAGR (2021-2026): 5.3%
Forecast Market Size (2026): USD 5.7 Billion
The growth of ASEAN trade finance market is driven by the rapid industrial and economic development in the region. The expansion of small and medium enterprises (SME) in global market is expected to provide growth opportunities in the forecast period. Additionally, the need for investment activities with risk management by various manufacturers, sellers, importers, and exporters are projected to propel the market.
The increasing technological advancements such as radio frequency identification (RFD), optical character recognition (OCR), and quick response codes among others (QRC) among others are expected to aid importers to track the shipments.
Industry Definition and Major Segments
Trade finance refers to the funding of international trade via various financial instruments such as letters of credit (LCs), credit agency, export finance, bank guarantees, insurance, receivables and invoice finance, and others. It enhances the working capital efficiency of the business and mitigates the risk involved.
Explore the full report with the table of contents : https://www.expertmarketresearch.com/reports/asean-trade-finance-market
Based on type, the market is divided into:
Supply Chain Finance
Structured Trade Finance
Traditional Trade Finance
By service provider, the industry can be segmented into:
Banks
Trade Finance Houses
Others
On the basis of end user, the industry can be categorised into:
Exporters
Importers
Traders
Others
The regional markets for ASEAN trade finance include:
Singapore
Thailand
Malaysia
Philippines
Indonesia
Vietnam
Others
Market Trends
However, the market saw a decline in 2020, the ASEAN trade finance market is expected to recover from covid-19 impact and grow to pre pandemic levels. This can be attributed to strong trade relations with the North America and other developing economies.
Additionally, the exporters and importers, on the end use basis, are expected to be the significant shareholder in the ASEAN region owing to the rising need for capital for the business expansion. Moreover, the factors such as increasing globalisation, growing penetration of key global players and expansion of various industries, supplier base is projected to push the growth of the region over the forecast period.
Key Market Players
The major players in the market are Asian Development Bank, DBS Bank Ltd, Malayan Banking Berhad, Bank of the Philippine Islands, Vietinbank, and a few others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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