Sukuk Market Trends, Size, Growth, Leading Companies and Industry Report 2024-2032

The latest report by IMARC Group, titled “Sukuk Market Report by Sukuk Type (Murabahah Sukuk, Salam Sukuk, Istisna Sukuk, Ijarah Sukuk, Musharakah Sukuk, Mudarabah Sukuk, Hybrid Sukuk, and Others), Currency (Turkish Lira, Indonesian Rupiah, Saudi Riyal, Kuwaiti Dinar, Malaysian Ringgit, United States Dollar, and Others), Issuer Type (Sovereign, Corporate, Financial Institutions, Quasi-Sovereign, and Others), and Region 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on the market. The global sukuk market size reached US$ 1,063.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 3,619.3 Billion by 2032, exhibiting a growth rate (CAGR) of 14.1% during 2024-2032.

Factors Affecting the Growth of the Sukuk Industry:

• Growing Demand for Islamic Finance:

The sukuk market is primarily driven by the increasing global demand for Islamic finance solutions. As ethical and interest-free investment alternatives, Sukuk appeals to a broad spectrum of investors, including those from both Muslim-majority and non-Muslim-majority countries. This rise in interest has led governments, corporations, and financial institutions worldwide to issue Sukuk to tap into this expanding market. With the rising awareness of Islamic finance principles and the quest for Sharia-compliant investments, the sukuk market continues to grow and diversify, offering a variety of opportunities for investors seeking ethical and profitable ventures.

• Rising Infrastructure Development and Funding Needs:

Sukuk's crucial role in financing infrastructure projects represents the primary factor driving the market growth. Many countries, especially in the Middle East and Asia, are investing heavily in infrastructure development. Sukuk provides an attractive funding source for these projects because they align with Islamic principles and attract a wide range of investors, including sovereign wealth funds and Islamic banks. As the need for infrastructure financing grows globally, Sukuk's compatibility with these projects ensures its continued prominence in the market. Governments and institutions leverage Sukuk to meet their infrastructure funding requirements, further propelling market growth.

• Diversification of Investment Portfolios:

Investors, institutional and retail, are increasingly diversifying their portfolios by including Sukuk. These instruments offer stability and are considered low-risk investments, attracting those seeking predictable returns in uncertain financial markets. Sukuk's asset-backed nature provides security to investors, making them an attractive choice. As investors aim to reduce risk and broaden their investment options, the Sukuk market continues to gain prominence. It is recognized as a reliable and ethical investment avenue, drawing capital from diverse sources and contributing to its growth as a significant asset class in the global financial landscape.

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Leading Companies Operating in the Sukuk Industry:

• Abu Dhabi Islamic Bank PJSC
• Al Baraka Banking Group
• Al-Rajhi Bank
• Banque Saudi Fransi
• Dubai Islamic Bank
• HSBC Holdings Plc
• Kuwait Finance House
• Malayan Banking Berhad
• Qatar International Islamic Bank
• RHB Bank Berhad
• Samba Financial Group

Sukuk Market Report Segmentation:

By Sukuk Type:

• Murabahah Sukuk
• Salam Sukuk
• Istisna Sukuk
• Ijarah Sukuk
• Musharakah Sukuk
• Mudarabah Sukuk
• Hybrid Sukuk
• Others

Murabahah sukuk represented the leading segment due to their widespread use in Islamic finance.

By Currency:

• Turkish Lira
• Indonesian Rupiah
• Saudi Riyal
• Kuwaiti Dinar
• Malaysian Ringgit
• United States Dollar
• Others

Malaysian Ringgit accounted for the largest market share owing to Malaysia's position as a key hub for Islamic finance.

By Issuer Type:

• Sovereign
• Corporate
• Financial Institutions
• Quasi-Sovereign
• Others

Sovereign represented the largest segment as it includes sukuk issuances by governments and central banks.

Regional Insights:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa

South East Asia’s dominance in the sukuk market is attributed to a robust Islamic finance ecosystem and a strong regulatory framework.

Global Sukuk Market Trends:

The sukuk market is primarily driven by the escalating demand for ethical and Sharia-compliant investments, appealing to a diverse investor base, including those from non-Muslim-majority regions. Apart from this, governments and institutions worldwide, driven by the need for infrastructure development, leverage sukuk as an attractive funding source due to its alignment with Islamic principles, particularly in regions like the Middle East and Asia, thus fueling market growth. Furthermore, the rising role of sukuk in diversifying investment portfolios, offering stability and low-risk returns, has accelerated its adoption as an appealing choice for investors seeking predictable yields amidst market uncertainty, thus supporting market growth.

Browse Full Report with TOC & List of Figure: https://www.imarcgroup.com/sukuk-market

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