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ASEAN Trade Finance Market: 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; Historical Market and Forecast (2018-2028); Competitive Landscape; Industry Events and Developments
ASEAN Trade Finance Market Outlook
The ASEAN trade finance market reached a value of USD 3.7 billion by 2020. In the forecast period of 2023-2028, the market is expected to further grow at a CAGR of 5.3% to reach USD 5.7 billion by 2026.
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Increasing Demand from the End Users to Bolster the Growth of the Trade Finance Industry
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.
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 industry in ASEAN. The growth of the trade finance industry 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, credit agency, 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.
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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 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 trade finance in the ASEAN region include Singapore, Thailand, Malaysia, the Philippines, Indonesia, and Vietnam, among others.
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Technological Advancements to Ease the Trade Flow in ASEAN to Boost the Growth of the Trade Finance Industry
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 Industry 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.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Type, Service Provider, End User, Country |
| 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 Country | Singapore, Thailand, Malaysia, Philippines, Indonesia, Vietnam, Others |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| 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 Industry Opportunities and Challenges
8 ASEAN Trade Finance Market Analysis
8.1 Key Industry Highlights
8.2 ASEAN Trade Finance Historical Market (2018-2022)
8.3 ASEAN Trade Finance Market Forecast (2023-2028)
8.4 ASEAN Trade Finance Market by Type
8.4.1 Supply Chain Finance
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Structured Trade Finance
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Traditional Trade Finance
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.5 ASEAN Trade Finance Market by Service Provider
8.5.1 Banks
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Trade Finance Houses
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Others
8.6 ASEAN Trade Finance Market by End User
8.6.1 Exporters
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Importers
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Traders
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.6.4 Others
8.7 ASEAN Trade Finance Market by Country
8.7.1 Market Share
8.7.1.1 Singapore
8.7.1.2 Thailand
8.7.1.3 Malaysia
8.7.1.4 Philippines
8.7.1.5 Indonesia
8.7.1.6 Vietnam
8.7.1.7 Others
9 Regional Analysis
9.1 Singapore
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Thailand
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.3 Malaysia
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.4 Philippines
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.5 Indonesia
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.6 Vietnam
9.6.1 Historical Trend (2018-2022)
9.6.2 Forecast Trend (2023-2028)
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 2028
2. ASEAN Trade Finance Historical Market: Breakup by Type (USD Billion), 2018-2022
3. ASEAN Trade Finance Market Forecast: Breakup by Type (USD Billion), 2023-2028
4. ASEAN Trade Finance Historical Market: Breakup by Service Provider (USD Billion), 2018-2022
5. ASEAN Trade Finance Market Forecast: Breakup by Service Provider (USD Billion), 2023-2028
6. ASEAN Trade Finance Historical Market: Breakup by End Use (USD Billion), 2018-2022
7. ASEAN Trade Finance Market Forecast: Breakup by End Use (USD Billion), 2023-2028
8. ASEAN Trade Finance Historical Market: Breakup by Country (USD Billion), 2018-2022
9. ASEAN Trade Finance Market Forecast: Breakup by Country (USD Billion), 2023-2028
10. ASEAN Trade Finance Market Structure
Key Questions Answered in the Report
In 2020, the ASEAN trade finance market attained a value of nearly USD 3.7 billion.
The market is projected to grow at a CAGR of 5.3% between 2021 and 2026.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach USD 5.7 billion by 2026.
The major drivers of the industry, such as the expanding trade routes, technological advancements, significant economic recovery, rising mediation of banks, expansion of SMEs, and non-tariff measures in ASEAN, are expected to aid the market growth.
The key market trends guiding the growth of the industry include the growing investments by SMEs and the non-tariff measure on essential goods in the ASEAN countries.
The major regions in the industry 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 industry are banks and trade finance houses, among others.
The significant end users in the market are exporters, importers, and traders, among others.
The major players in the industry 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 3.7 billion in 2020, 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 2023-2028, growing at a CAGR of 5.3%. The market is projected to reach USD 5.7 billion by 2026.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. 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 industry 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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