South & Central America Trade Credit Insurance Market Forecast to 2031 - Regional Analysis - by Enterprise Size (Large Enterprises and SMEs), Application (International and Domestic), and End User (Energy, Automotive, Aerospace, Chemicals, Metals, Agriculture, Food and Beverages, Financial Services, Technology and Telecommunication, Transportation, and Others)
The South & Central America trade credit insurance market was valued at US$ 935.03 million in 2023 and is expected to reach US$ 1,532.54 million by 2031; it is estimated to register a CAGR of 6.4% from 2023 to 2031.
Supply Chain Complexities Fuel South & Central America Trade Credit Insurance Market
The expansion of the e-commerce industry leads to an increased demand for new supply chain arrangements. The development of new supply chain arrangements raises the complexity of the supply chains, which increases the demand for trade credit insurance among e-commerce to streamline business processes by keeping them running. As a result, market players are developing a new range of trade credit insurance services for the e-commerce industry. For instance, in March 2024, Allianz Trade launched Allianz Trade pay services for B2B e-commerce activities. Allianz Trade Pay is a payment solution that offers a variety of services such as a fraud module, digital buyer onboarding solution, trade credit insurance protection, and instant financing solution through Allianz Trade’s financial institution partners. The Allianz Trade pay provides flexibility, security, simplicity, and competitiveness to the e-commerce ecosystem, which increases its adoption in the e-commerce industry to manage its complex supply chains.
Various countries are adopting the multipolar system, which requires the presence of advanced market manufacturers for reshoring or friend-shoring production. This created the demand for parallel and multiple supply chains and relocation of production facilities to fulfill customers' needs across the globe. As a result, a reduction in the supply chain activity for intermediate goods leads to a rise in complexities related to trade, particularly for intermediate goods. For instance, according to the World Trade Organization (WTO) data published in October 2023, supply chain activity for intermediate goods declined by 48.5% in the first half of 2023. It fell from an average of 51.0% compared to the previous three years. Thus, supply chain complexities will raise the demand for trade credit insurance protection against counterparty risk, which is expected to create numerous opportunities for the trade credit insurance market growth during the forecast period.
South & Central America Trade Credit Insurance Market Overview
The South America trade credit insurance market is driven by the growing number of bankrupt companies and the lack of favorable policies & government support for managing credit risks. For instance, according to the WTW report, the level of insolvencies is expected to rise by 20% by the end of 2024, which increases the demand for trade credit insurance among businesses to seamlessly manage their cash flow and working capital by minimizing bad debt. Further, the rising inflation, high interest rates, and the growing number of business bankruptcies increase the demand for trade credit insurance credit controlling, which fuels the trade credit insurance market in South America. For instance, according to International Monetary Fund data published in August 2022, the Central Bank of Chile (CBC) has raised the benchmark interest rate to 9.75% to tighten domestic financial conditions. Thus, the growing inflation and high interest rates drive the market.
South & Central America Trade Credit Insurance Market Revenue and Forecast to 2031 (US$ Million)
South & Central America Trade Credit Insurance Market Segmentation
The South & Central America trade credit insurance market is categorized into enterprise size, application, end user, and country.
Based on enterprise size, the South & Central America trade credit insurance market is bifurcated into large enterprises and SMEs. The large enterprises segment held a larger market share in 2023.
In terms of application, the South & Central America trade credit insurance market is bifurcated into international and domestic. The international segment held a larger market share in 2023.
By end user, the South & Central America trade credit insurance market is segmented into energy, automotive, aerospace, chemicals, metals, agriculture, food and beverages, financial services, technology and telecommunication, transportation, and others. The agriculture segment held the largest market share in 2023.
By country, the South & Central America trade credit insurance market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America trade credit insurance market share in 2023.
Allianz Trade, Credendo, American International Group Inc, Chubb Ltd, Aon Plc, Atradius NV, Chubb Ltd, COFACE SA, QBE Insurance Group Ltd, and Zurich Insurance Group AG are some of the leading companies operating in the trade credit insurance market.
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Secondary Research
3.2 Primary Research
3.2.1 Hypothesis formulation:
3.2.2 Macro-economic factor analysis:
3.2.3 Developing base number:
3.2.4 Data Triangulation:
3.2.5 Country level data:
4. South & Central America Trade Credit Insurance Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
4.2.1 List of Vendors in the Value Chain
5. South & Central America Trade Credit Insurance Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Surge in Business Insolvencies
5.1.2 Rise in Inflation and High Interest Rates
5.1.3 Government Initiatives Supporting MSMEs and SMEs to Adopt Trade Credit Insurance
5.2 Market Restraints
5.2.1 Lack of Awareness Among Emerging Economies
5.3 Market Opportunities
5.3.1 Supply Chain Complexities
5.3.2 Significant Initiatives to Promote AI use in Trade Credit Insurance Solutions
5.4 Future Trends
5.4.1 Development of Cloud-Based Trade Credit Insurance Solutions
5.5 Impact of Drivers and Restraints:
6. Trade Credit Insurance Market – South & Central America Analysis
6.1 South & Central America Trade Credit Insurance Market Revenue (US$ Million), 2021–2031
6.2 South & Central America Trade Credit Insurance Market Forecast Analysis
7. South & Central America Trade Credit Insurance Market Analysis – by Enterprise Size
7.1 Large Enterprises
7.1.1 Overview
7.1.2 Large Enterprises: South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
7.2 SMEs
7.2.1 Overview
7.2.2 SMEs: South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
8. South & Central America Trade Credit Insurance Market Analysis – by Application
8.1 International
8.1.1 Overview
8.1.2 International: South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
8.2 Domestic
8.2.1 Overview
8.2.2 Domestic: South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
9. South & Central America Trade Credit Insurance Market Analysis – by End User
9.1 Energy
9.1.1 Overview
9.1.2 Energy: South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
9.2 Automotive
9.2.1 Overview
9.2.2 Automotive: South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
9.3 Aerospace
9.3.1 Overview
9.3.2 Aerospace: South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
9.4 Chemicals
9.4.1 Overview
9.4.2 Chemicals: South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
9.5 Metals
9.5.1 Overview
9.5.2 Metals: South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
9.6 Agriculture
9.6.1 Overview
9.6.2 Agriculture: South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
9.7 Food and Beverages
9.7.1 Overview
9.7.2 Food and Beverages: South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
9.8 Financial Services
9.8.1 Overview
9.8.2 Financial Services: South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
9.9 Technology and Telecommunication
9.9.1 Overview
9.9.2 Technology and Telecommunication: South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
9.10 Transportation
9.10.1 Overview
9.10.2 Transportation: South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
9.11 Others
9.11.1 Overview
9.11.2 Others: South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
10. South & Central America Trade Credit Insurance Market – Country Analysis
10.1 South & Central America Trade Credit Insurance Market, By Key Countries – Revenue (2023) (US$ Million)
10.1.1 South & Central America Trade Credit Insurance Market Breakdown, by Key Countries, 2023 and 2031 (%)
10.1.1.1 South & Central America Trade Credit Insurance Market – Revenue and Forecast Analysis – by Country
10.1.1.2 Brazil: South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
10.1.1.2.1 Brazil: South & Central America Trade Credit Insurance Market Breakdown, by Enterprise Size
10.1.1.2.2 Brazil: South & Central America Trade Credit Insurance Market Breakdown, by Application
10.1.1.2.3 Brazil: South & Central America Trade Credit Insurance Market Breakdown, by End User
10.1.1.3 Argentina: South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
10.1.1.3.1 Argentina: South & Central America Trade Credit Insurance Market Breakdown, by Enterprise Size
10.1.1.3.2 Argentina: South & Central America Trade Credit Insurance Market Breakdown, by Application
10.1.1.3.3 Argentina: South & Central America Trade Credit Insurance Market Breakdown, by End User
10.1.1.4 Rest of South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
10.1.1.4.1 Rest of South & Central America Trade Credit Insurance Market Breakdown, by Enterprise Size
10.1.1.4.2 Rest of South & Central America Trade Credit Insurance Market Breakdown, by Application
10.1.1.4.3 Rest of South & Central America Trade Credit Insurance Market Breakdown, by End User
11. Competitive Landscape
11.1 Heat Map Analysis by Key Players
11.2 Company Positioning & Concentration
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 Product Development
12.4 Mergers & Acquisitions
13. Company Profiles
13.1 Allianz Trade
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 COFACE SA
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 American International Group, Inc
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Chubb Ltd
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 QBE Insurance Group Ltd
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Aon plc
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Credendo
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Atradius NV
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Zurich Insurance Group AG
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Great American Insurance Company
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
List of Tables
Table 1. South & Central America Trade Credit Insurance Market Segmentation
Table 2. List of Vendors
Table 3. South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
Table 4. South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million) – by Enterprise Size
Table 5. South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million) – by Application
Table 6. South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 7. South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million) – by Country
Table 8. Brazil: South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million) – by Enterprise Size
Table 9. Brazil: South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million) – by Application
Table 10. Brazil: South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 11. Argentina: South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million) – by Enterprise Size
Table 12. Argentina: South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million) – by Application
Table 13. Argentina: South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 14. Rest of South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million) – by Enterprise Size
Table 15. Rest of South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million) – by Application
Table 16. Rest of South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 17. List of Abbreviation
List of Figures
Figure 1. South & Central America Trade Credit Insurance Market Segmentation, by Country
Figure 2. Ecosystem: Trade Credit Insurance Market
Figure 3. South & Central America Trade Credit Insurance Market – Key Market Dynamics
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. South & Central America Trade Credit Insurance Market Revenue (US$ Million), 2021–2031
Figure 6. South & Central America Trade Credit Insurance Market Share (%) – by Enterprise Size (2023 and 2031)
Figure 7. Large Enterprises: South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
Figure 8. SMEs: South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
Figure 9. South & Central America Trade Credit Insurance Market Share (%) – by Application (2023 and 2031)
Figure 10. International: South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
Figure 11. Domestic: South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
Figure 12. South & Central America Trade Credit Insurance Market Share (%) – by End User (2023 and 2031)
Figure 13. Energy: South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
Figure 14. Automotive: South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
Figure 15. Aerospace: South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
Figure 16. Chemicals: South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
Figure 17. Metals: South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
Figure 18. Agriculture: South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
Figure 19. Food and Beverages: South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
Figure 20. Financial Services: South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
Figure 21. Technology and Telecommunication: South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
Figure 22. Transportation: South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
Figure 23. Others: South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
Figure 24. South & Central America Trade Credit Insurance Market, By Key Countries - Revenue (2023) (US$ Million)
Figure 25. South & Central America Trade Credit Insurance Market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 26. Brazil: South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
Figure 27. Argentina: South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
Figure 28. Rest of South & Central America Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
Figure 29. Heat Map Analysis by Key Players
Figure 30. Company Positioning & Concentration
- Allianz Trade
- COFACE SA
- Credendo
- American International Group Inc
- Chubb Ltd
- QBE Insurance Group Ltd
- Aon Plc
- Atradius NV
- Zurich Insurance Group AG
- Great American Insurance Company
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the South & Central America trade credit insurance market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the South & Central America trade credit insurance market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth South & Central America market trends and outlook coupled with the factors driving the South & Central America trade credit insurance market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.