Trade Credit Insurance Market
Report ID: SQMIG40M2003
Report ID: SQMIG40M2003
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Report ID:
SQMIG40M2003 |
Region:
Global |
Published Date: March, 2025
Pages:
195
|Tables:
84
|Figures:
71
Global Trade Credit Insurance Market size was valued at USD 13.86 Billion in 2024 and is poised to grow from USD 15.28 Billion in 2025 to USD 33.23 Billion by 2033, growing at a CAGR of 10.2% during the forecast period (2026–2033).
The global trade credit insurance market growth is attributable to the spread of business to more locations, where there arises a demand for trade credit insurance in order to reduce the risk of non-payment from foreign customers. Apart from this, higher protectionism and uncertainty in international business will drive demand for trade credit insurance (TCI).
The business data provided by the insurers to the firms can help them comprehend the payment difficulty, and hence the insured firms can conduct their business more confidently. The use of digital software to make banking and insurance services more efficient and the use of data analytics and blockchain in trade finance will play a crucial role in driving the growth of the market. In addition, market players are expanding trade credit solutions on digital platforms to establish a competitive advantage over their rivals.
For instance, in September 2023, Coface rolled out its new Application Programming Interfaces (API) portal for financial directors and credit managers. Coface's API Portal currently has 26 API products in trade credit insurance of Business Information and provides access to Coface's services and information on more than 188 million companies. Such offerings are capitalizing on the growth of the market.
Artificial intelligence, machine learning, and the Internet of Things have also influenced the trade credit insurance sector profoundly. Gallagher Re, an international reinsurance broking and consultancy business that is administrative in character, stated that 2022 had witnessed 1,528 overseas investors investing in 521 Insurtech deals worth a total of $7.9 billion. The U.S. was at the forefront with 238 deals, followed by the U.K. with 35, France with 27, and India with 26. Trade credit technology investment has been increasing in recent years as firms and insurers aim to utilize technology in streamlining operations and reducing risk, which is beneficial for market growth.
Key Market Attributes
International insurance company Atradius N.V. specializes in debt recovery, surety, and trade credit insurance. In its special products business, it offers organizations of all sizes tailored risk management solutions. The company insures against non-payment risks both domestically and internationally and has a presence in over 50 countries. Its specialized unit, Atradius Global, offers tailored trade credit insurance solutions with a focus on multinational companies. Atradius provides access to customers all over the world to invest in cutting-edge risk assessment technologies alongside proper conditions from a financially sound condition. Its great experience permits businesses to assist them in enhancing their financial security and credit risk management.
Chubb is one of the oldest global insurance companies, providing a wide range of insurance services such as life, supplemental health, personal and commercial property, trade credit, liability, personal accident, and reinsurance. Having a strong global presence, Chubb provides end-to-end risk management solutions to individuals, businesses, and global organizations. The company is publicly traded on the New York Stock Exchange under the ticker symbol CB and is included in the S&P 500 index. Chubb enjoys a solid reputation for its financial stability, claim-handling ability, and commitment to innovation, thus allowing clients to obtain customized insurance policies tailored to their diverse and evolving coverage requirements.
A global international insurer from Australia, QBE Insurance Group Limited offers trade credit, personal, commercial, liability, reinsurance, and general insurance. QBE provides risk management solutions that cater to the needs of any industry to help businesses mitigate their financial risk. QBE is quoted on the Australian Securities Exchange using the ticker code QBE. QBE, with its solid financial position and experience in insuring complicated risks, continues to grow around the world using creative technology and analytics to upgrade its insurance products and serve its broad customer base.
Market snapshot - 2026-2033
Global Market Size
USD 12.58 billion
Largest Segment
International
Fastest Growth
Domestic
Growth Rate
10.2% CAGR
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Global Trade Credit Insurance Market is segmented By Component, By Enterprise Size, By Coverage, By Risk Type, By Application, By End-use and region. Based on By Component, the market is segmented into Services and Product. Based on By Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on By Coverage, the market is segmented into Whole Turnover Coverage, Single Buyer Coverage and Transactional Coverage. Based on By Risk Type, the market is segmented into Commercial Risk, Political Risk and Catastrophic Risk. Based on By Application, the market is segmented into Domestic and International Export Trade Credit. Based on By End-use, the market is segmented into Food and Beverages, IT and Telecom, Metals and Mining, Agriculture, Chemicals & Pharmaceuticals, Healthcare, Energy and Utilities, Automotive and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis By Enterprise Size
As per the 2024 global trade credit insurance market analysis, the market was dominated by large enterprises segment and held almost 60.3% of the total revenues. This is further expected to continue dominance throughout the forecast period. This is attributed to the increasing need for trade credit insurance policies from major companies to mitigate the risks of non-payments. Besides, market players such as Allianz Trade are involved in the issuance of trade credit insurance that is fit for large companies in an effort to protect their cash flows and receivables. In addition, large enterprises exchange large amounts of sales based on long payment periods where the risk of non-payment may be high. Thus, large enterprises are adopting trade credit insurance policies globally.
The small & medium enterprises segment will have the highest CAGR in the forecast period. This is because small & medium enterprises (SMEs) within the trade credit experience cash-flow problems because most of their sales are tied up to credit to buyers. Therefore, trade credit insurance is funded by small & medium sized enterprises because trade finance is more interested in the trade than the underlying borrower. Apart from that, governments of the world are attempting to help SMEs by introducing various schemes. For instance, in July 2022, Export Credit Guarantee Corporation of India (ECGC), a export credit guarantee company, started a new scheme to cover 90% of the credit risk in export finance to benefit small & medium sized exporters by facilitating it for banks & financial institutions to provide more credit for export with a view to uncertainty in the global economy.
Analysis By Application
The international segment accounted for the largest market revenue in 2024. This is because it benefits from the extensive elimination of international business payment risks. By giving the exporter, a conditional payment guarantees when the foreign buyer fails to make payment, trade credit insurance encourages confidence and fosters more efficient cross-border transactions. Moreover, growing production of exporter-dedicated trade credit insurance policies is also anticipated to drive the market growth of the segment and position it as an even more viable risk management device for companies considering entry into overseas markets.
Based on the global trade credit insurance market forecast, the domestic application segment will register maximum CAGR from the forecast period. The growth in the segment arises from a boost in the take-up of domestic sales trade credit insurance. Domestic market take-up of trade credit insurance is growing as a result of the reasons that firms are focused on keeping bad debts and cash flow management in check. Furthermore, trade credit insurance gives businesses the protection they require because their customer base is consolidating and leaves them with a larger receivable from a smaller number of customers and protects them from a massive risk.
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With the highest market share, the European trade credit insurance industry topped the list in 2024 and is expected to remain on top during the forecast period. The presence of influential market players, extensive application of advanced risk evaluation technology, and strong trade-supporting regulatory systems all contribute to the success of the region. Market growth is also supported by favorable government incentives, including fiscal support and protection programs. Globally, trade credit insurance has become increasingly a tool with which firms financially protect and expand their operations as they tap into the offering to lower credit risk, secure payment, and react to the uncertain economics.
The growing demand for product protection from many businesses from payment defaults would dominate the United Kingdom market and would accelerate to growth with a high CAGR of 11.3% during forecast period. According to Allianz Trade's economic report, fiscal support from the government assisted about 4,300 businesses between 2022 and 2023, with trade credit insurance, that is playing an important role in the regional market growth. Also, in the wake of post-Brexit realignment and changing trade regulations in the U.K., businesses are now looking for solutions to credit risks. Trade credit insurance is expected to play a greater role in supporting business expansion and financial stability as more individuals recognize its benefits.
The North American trade credit insurance market is expected to grow substantially between 2025 and 2032 as more businesses understand the significance of trade credit insurance in mitigating credit risk. Firms are increasingly resorting to trade credit insurance due to supply chain collapse, international trade tensions, and economic instability that have heightened the need for financial protection. US and Canadian sales of accounts receivable protection insurance and company continuity assurance are on the increase. In reaction to an increase in trade volatility and company bankruptcies, North American insurers are offering innovative solutions to assist companies in managing risk, maintaining cash flow, and ensuring long-term financial health.
Owing to expanding economies and an increased demand for financing mechanisms, the Asia Pacific trade credit insurance market will grow at the fastest compound annual growth rate (CAGR) during the forecast period. The trading scenario within the region is evolving rapidly, and firms are employing credit insurance to manage risks and secure transactions. To support Asian financial institutions in the region, the Asian Development Bank (ADB) established an August 2022 USD 1 billion co-financing capability with five multilateral insurers. Trade credit insurance is increasingly indispensable as globalization and cross-border business expand, enabling Asia Pacific business to operate confidently and with stability.
From 2025 to 2032, the development of an improved trade credit insurance market in Middle East and Africa (MEA) countries would be critically dependent upon increased digitization and establishment of a strong Export Credit Agency. The acceptance of credit insurance as a risk mitigator from financial risks is gaining a foothold among the middle eastern companies, especially in sectors, such as manufacturing, construction, and energy. Cumulative increase in trade in Africa highlights the necessity of a preventive approach towards the risk of non-payment. The government-initiated programs and financial reforms undertaking economic expansion allow trade credit insurance to be an efficient tool for businesses' survival and payment in an evolving economic landscape.
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Drivers
Growing International Trade and Economic Growth
SMEs' Growing Awareness and Use
Restraints
Costly Premiums and Limitations to the Policy
Economic Uncertainty and Market Volatility
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The global trade credit insurance market is competitive with industry leaders such as Atradius N.V., Chubb, Euler Hermes (Allianz Trade), Coface, and QBE Insurance Group being at the top. Businesses tend to compete on the basis of offerings, geographic reach, funds, and technological innovation. Increased digitalization, risk management based on artificial intelligence, and bespoke solutions are defining competition. Insurers tend to compete for market share and customers in general, but other competitive drivers like acquisitions, strategic alliances, and penetration to new and emerging economies tend to dominate competitors at times.
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, factors such as increasing awareness among companies, rising volumes of international trade, and advances in digital risk assessment are expected to rapidly develop the international trade credit insurance market. Trade credit insurance will be a key to cover receivables and financial sustainability of firms through fluctuating credit-risk scenarios. The industry is predicted to witness consistent growth over the next few years based on its increasing use across industries. The Asia Pacific will grow faster than any other region, while Europe will remain the most advanced one. Prominent players are integrating blockchain, artificial intelligence, and bespoke processing to enhance their market offering. However, challenges concerning high premium costs and unfavorable economic conditions do persist.
| Report Metric | Details |
|---|---|
| Market size value in 2024 | USD 13.86 Billion |
| Market size value in 2033 | USD 33.23 Billion |
| Growth Rate | 10.2% |
| Base year | 2024 |
| Forecast period | 2026-2033 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Trade Credit Insurance Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Trade Credit Insurance Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Trade Credit Insurance Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Trade Credit Insurance Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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