Sukuk Market 2024 | Size, Top Companies, Demand and Opportunity 2032

IMARC Group's report 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 global sukuk market growth. The global 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.

Leading Companies Operating in the Global 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

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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.

Market Breakup by Region:

• 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

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Global Positron Emission Tomography Market Trends:

The positron emission tomography (PET) market is currently witnessing several dynamic trends. There is a growing emphasis on the development of PET/MRI systems, combining the functional imaging capabilities of PET with the superior soft tissue contrast of MRI. This hybrid technology is enhancing diagnostic accuracy, particularly in oncology and neurology, thereby accelerating market growth. Additionally, the market is seeing an increased focus on developing new radiotracers that provide more detailed insights into various diseases. In line with this, the ongoing expansion of PET applications beyond oncology into cardiology and neurology is another key factor catalyzing the market growth. These developments are spurred by continuous research and innovation, aiming to broaden the scope and efficacy of PET imaging, thus fostering market growth.

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