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ASEAN Trade Finance Market

ASEAN Trade Finance Market Size, Share, Trends, Forecast: By Type: Supply Chain Finance, Structured Trade Finance, Traditional Trade Finance; By Service Provider: Banks, Trade Finance Houses, Others; By End User: Exporters, Importers, Traders; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032

ASEAN Trade Finance Market Outlook

The ASEAN trade finance market reached a value of USD 4.32 billion by 2023. In the forecast period of 2024-2032, the market is expected to further grow at a CAGR of 5.3% to reach USD 6.87 billion by 2032.

 

Increasing Demand from the End Users to Bolster the Growth of the Trade Finance Market

Based on end user, importers and exporters account for a significant share in the market in the ASEAN region. This can be attributed to the rising need for capital efficiency to expand the business. The growing trade routes and trade agreements are likely to further bolster the market growth within these segments in the forecast period. The segments are likely to remain dominant in the coming years owing to the rising globalisation, expansion of supplier base for various industries in the ASEAN region, and the growing investments by major global players into the region.

 

ASEAN Trade Finance Market

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On the basis of service provider, banks account for a major share in the market. This can be attributed to the potential of banks to act as intermediatory in the trade finance ecosystem. The bank’s guarantee to ease the financial activities to further bolster the finance trade.

Among the countries of ASEAN, the trade windows are anticipated to broaden, owing to the implementation of non-tariff measures on essential items. While trade and, thus, trade finance witnessed a decline in 2020 due to the outbreak of the COVID-19 pandemic, the trade is anticipated to recover and increase in 2021, aiding the growth of the trade finance market in ASEAN. The growth of the trade finance market in the ASEAN countries is expected to be further bolstered by the strong diplomatic relationships with North America and Australia, which is expected to support the growth of trade in the region.

 

Trade Finance: Market Segmentation

Trade finance facilitates international trade transactions using various financial instruments. Trade finance includes issuing letters of credit (LCs), receivables and invoice finance, export finance, bank guarantees, insurance, and others. It can also act as an intermediatory between importers and exporters to mitigate the risks involved in transactions.

 

ASEAN Trade Finance Market

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Based on type, the market is divided into:

  • Supply Chain Finance
  • Structured Trade Finance
  • Traditional Trade Finance

By service provider, the market can be segmented into:

  • Banks
  • Trade Finance Houses
  • Others

On the basis of end user, the market can be categorised into:

  • Exporters
  • Importers
  • Traders
  • Others

The regional markets for trade finance in the ASEAN region include Singapore, Thailand, Malaysia, the Philippines, Indonesia, and Vietnam, among others.

 

ASEAN Trade Finance Market

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Technological Advancements to Ease the Trade Flow in ASEAN to Boost the Growth of the Trade Finance Market

The trade finance market in the ASEAN region is being driven by economic development in the countries of ASEAN and the implementation of innovative technologies, including optical character recognition (OCR), radio frequency identification (RFID), and quick response codes (QRC), among others. These technological advancements can help importers and exporters trace shipments and enhance the digitalisation of trade documents, which can save time.

The market is anticipated to be propelled by the expansion of SMEs and their focus on international trade. The growing need of buyers, sellers, manufacturers, importers, and exporters to ease finance activities and manage their investment with proper risk management is further projected to aid the market in the forecast period.  Furthermore, the non-tariff measures on essential items among ASEAN nations are likely to augment the trade growth and economic recovery of the ASEAN region from the adverse impacts of the COVID-19. This is expected to lead to a healthy growth of the trade finance market in the region in the coming years.

 

Key Players in the ASEAN Trade Finance Market

The report gives a detailed analysis of the following key players in the ASEAN trade finance market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Asian Development Bank
  • DBS Bank Ltd.
  • Malayan Banking Berhad
  • Bank of the Philippine Islands
  • Vietinbank
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Service Provider
  • End User
  • Region
Breakup by Type
  • Supply Chain Finance
  • Structured Trade Finance
  • Traditional Trade Finance
Breakup by Service Provide
  • Banks
  • Trade Finance Houses
  • Others
Breakup by End User
  • Exporters
  • Importers
  • Traders
  • Others
Breakup by Region
  • Singapore
  • Thailand
  • Malaysia
  • Philippines
  • Indonesia
  • Vietnam
  • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Asian Development Bank
  • DBS Bank Ltd
  • Malayan Banking Berhad
  • Bank of the Philippine Islands
  • Vietinbank
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    ASEAN
7    Opportunities and Challenges in the Market
8    ASEAN Trade Finance Market Analysis

    8.1    Key Industry Highlights
    8.2    ASEAN Trade Finance Historical Market (2018-2023) 
    8.3    ASEAN Trade Finance Market Forecast (2024-2032)
    8.4    ASEAN Trade Finance Market by Type
        8.4.1    Supply Chain Finance
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Structured Trade Finance
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Traditional Trade Finance
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
    8.5    ASEAN Trade Finance Market by Service Provider
        8.5.1    Banks
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Trade Finance Houses
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Others
    8.6    ASEAN Trade Finance Market by End User 
        8.6.1    Exporters
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Importers
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Traders
            8.6.3.1    Historical Trend (2018-2023)
            8.6.3.2    Forecast Trend (2024-2032)
        8.6.4    Others
    8.7    ASEAN Trade Finance Market by Country
        8.7.1    Singapore
        8.7.2    Thailand
        8.7.3    Malaysia
        8.7.4    Philippines
        8.7.5    Indonesia
        8.7.6    Vietnam
        8.7.7    Others
9    Regional Analysis
    9.1    Singapore
        9.1.1    Historical Trend (2018-2023)
        9.1.2    Forecast Trend (2024-2032)
    9.2    Thailand
        9.2.1    Historical Trend (2018-2023)
        9.2.2    Forecast Trend (2024-2032)
    9.3    Malaysia
        9.3.1    Historical Trend (2018-2023)
        9.3.2    Forecast Trend (2024-2032)
    9.4    Philippines
        9.4.1    Historical Trend (2018-2023)
        9.4.2    Forecast Trend (2024-2032)
    9.5    Indonesia
        9.5.1    Historical Trend (2018-2023)
        9.5.2    Forecast Trend (2024-2032)
    9.6    Vietnam
        9.6.1    Historical Trend (2018-2023)
        9.6.2    Forecast Trend (2024-2032)
    9.7    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    Key Indicators for Demand
    10.4    Key Indicators for Price
11    Competitive Landscape
    11.1    Market Structure
    11.2    Company Profiles
        11.2.1    Asian Development Bank
        11.2.2    DBS Bank Ltd
        11.2.3    Malayan Banking Berhad
        11.2.4    Bank of the Philippine Islands
        11.2.5    Vietinbank
        11.2.6    Others


List of Key Figures and Tables

1.    ASEAN Trade Finance Market: Key Industry Highlights, 2018 and 2032
2.    ASEAN Trade Finance Historical Market: Breakup by Type (USD Billion), 2018-2023
3.    ASEAN Trade Finance Market Forecast: Breakup by Type (USD Billion), 2024-2032
4.    ASEAN Trade Finance Historical Market: Breakup by Service Provider (USD Billion), 2018-2023
5.    ASEAN Trade Finance Market Forecast: Breakup by Service Provider (USD Billion), 2024-2032
6.    ASEAN Trade Finance Historical Market: Breakup by End Use (USD Billion), 2018-2023
7.    ASEAN Trade Finance Market Forecast: Breakup by End Use (USD Billion), 2024-2032
8.    ASEAN Trade Finance Historical Market: Breakup by Country (USD Billion), 2018-2023
9.    ASEAN Trade Finance Market Forecast: Breakup by Country (USD Billion), 2024-2032
10.    ASEAN Trade Finance Market Structure

Key Questions Answered in the Report

In 2023, the ASEAN trade finance market attained a value of nearly USD 4.32 billion.

The market is projected to grow at a CAGR of 5.3% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 6.87 billion by 2032.     

The major market drivers include the expanding trade routes, technological advancements, and  rapid urbanisation and globalisation.

The key trends guiding the market growth include economic development in ASEAN countries, the implementation of innovative technologies, and the expansion of SMEs and the enhanced focus on international trade.

The major countries of trade finance considered in the ASEAN market report are Singapore, Thailand, Malaysia, the Philippines, Indonesia, and Vietnam, among others.

The leading types of trade finance in the market are supply chain finance, structured trade finance, and traditional trade finance.

The major service providers in the market are banks and trade finance houses, among others.

The significant end users of trade finance are exporters, importers, and traders, among others.

The major players in the market are Asian Development Bank, DBS Bank Ltd, Malayan Banking Berhad, Bank of the Philippine Islands, and Vietinbank, among others.

Analyst Review

The ASEAN trade finance market attained a value of USD 4.32 billion in 2023, driven by the rising trade routes and trade agreements. Aided by the growing technological advancements, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 5.3%. The market is projected to reach USD 6.87 billion by 2032.         

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the market. By type, the market is segmented into supply chain finance, structured trade finance, and traditional trade finance. On the basis of service provider, the market is divided into banks and trade finance houses, among others. By end user, the market is segmented into exporters, importers, and traders, among others. The major regional markets for trade finance in ASEAN are Singapore, Thailand, Malaysia, the Philippines, Indonesia, and Vietnam, among others. The key players in the above market include Asian Development Bank, DBS Bank Ltd., Malayan Banking Berhad, Bank of the Philippine Islands, and Vietinbank, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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