Trade Finance Market: Overview
Trade finance refers to the process of financing international trade flows. Trade finance assists in diminishing or mitigating the risk associated with international trade transactions. There are two players involved with a trade transaction, one an exporter, and the other one an importer. Trade finance is all about financing for the purpose of trade and it is related to both international and domestic trade transactions. Growing importance of international trade is likely to foster growth of the global trade finance market over the timeframe of analysis, from 2024 to 2030.
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Insurance, bank guarantees, export financing, credit agency, receivables and invoice financing, and providing letters of credit (LCs) are all provided by trade finance. Exporters, importers, manufacturers, sellers, and buyers utilize it for the purpose of easing financing activities and it deals in the manner assets, investment, credit, and cash are utilized for trade. The ability to accelerate the procedure of making arrangement of short-term finance is likely to support growth of the global trade finance market in the years to come.
Product, service provider, end user, and region are the four important parameters based on which the global trade finance market has been classified.
Global Trade Finance Market: Notable Developments
One of the relevant and important developments of the market that gives a quick view of the dynamics pertaining to global trade finance market is mentioned as below:
- In July 2019, American multinational bank, JPMorgan Chase & Co. acquired leading healthcare payments solutions provider, InstaMed Holdings, Inc. The latter is estimated to function as JPMorgan Chase Bank’s subsidiary. With the acquisition, it is expected that the clients of both JPMorgan Chase and InstaMed will be benefitted from this strategic move
Some of the prominent organizations in the global trade finance market comprise the below-mentioned:
- Royal Bank of Scotland
- Bank of America
- JPMorgan Chase & Co
- Mizuho Financial Group, Inc
- BNP Paribas S.A
- Mitsubishi UFJ Financial Group, Inc
Global Trade Finance Market: Geographical Analysis
Asia Pacific is estimated to be one of the most dominating forces in the global trade finance market over the timeframe of analysis, from 2024 to 2030. Increased funding from the government is anticipated to add to the development of the global trade finance market over the tenure of analysis, from 2024 to 2030. China is likely to remain at the forefront of the growth of the market in Asia Pacific.
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The following regional segments are covered comprehensively:
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- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
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