The new report by Expert Market Research titled, ‘ASEAN Trade Finance Market Report and Forecast 2021-2026’, gives an in-depth analysis of the ASEAN trade finance market, assessing the market based on its segments like type, provider, end user, and major regions Singapore, Thailand, Malaysia, Philippines, Indonesia, Vietnam, and others. 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.
Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on request sample report. The sample report shall be delivered to you within 24 hours.
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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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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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