The global trade credit insurance (TCI) market is expected to exceed USD $23.9 billion by 2032, up from $9.2 billion in 2022.
Trade credit insurance helps companies extend credit with confidence and provides a safety net to those working in international markets. While ongoing geopolitical tensions have made global trade more uncertain, particularly for large enterprises managing supply chain disruptions and fluctuating commodity prices, now more small and medium-sized enterprises (SMEs) are also participating global commerce. TCI is particularly beneficial to SMEs as they often lack the financial resilience to absorb large losses.
The key drivers behind this anticipated increase include:
- Expansion of international trade activities
- Economic fluctuations and uncertainties
- Market expansion in emerging economies
- Rising awareness about the benefits of trade credit insurance
This article outlines how the projected growth in TCI is a reflection of how business is shifting in its approach to managing risk and maintaining resilience.
