Sukuk - Global Strategic Business Report

The global market for Sukuk was estimated at US$1.2 Billion in 2024 and is projected to reach US$2.6 Billion by 2030, growing at a CAGR of 13.2% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. The report includes the most recent global tariff developments and how they impact the Sukuk market.

Global Sukuk Market - Key Trends & Drivers Summarized

What's Elevating Sukuk in Global Islamic Finance?

Sukuk-Sharia-compliant investment certificates-provide investors illiquid asset-based returns while avoiding interest (riba). Structured around leasing, profit-sharing, or asset transfer models, sukuk occupy a unique niche in Islamic and global bond markets. They're used to finance infrastructure, real estate, energy, and sovereign initiatives in Muslim-majority countries and now beyond. Governments in Southeast Asia and the GCC, plus global supranationals, increasingly rely on sukuk to attract ethical capital and diversify funding sources.

Are Structuring Innovations and International Growth Emerging?

Yes. Innovations include Green Sukuk for ESG-aligned projects, Sustainability Sukuk to fund social programs, hybrid aircraft lease structures, and cross-border dual-currency issuances. Regulatory harmonization efforts are easing issuance and secondary market liquidity-supported by platforms in Malaysia, Dubai, and London. Furthermore, consultation with legal bodies (AAOIFI, IFSB) helps align structures to Sharia and global securities standards, attracting mainstream pension and sovereign wealth investors.

Why Are Issuers and Investors Turning to Sukuk?

Issuers benefit from tapping global Islamic capital, improving funding diversification, and gaining public trust through asset-backed instruments. For investors, sukuk offer yield returns, Sharia compliance, and support projects with tangible assets. Central banks and investors across Asia, Africa, and Europe seek sukuk to manage capital efficiency and meet Islamic investor mandates.

What's Powering the Growth in the Sukuk Market?

The growth in the sukuk market is fuelled by several factors related to infrastructure needs, investor diversification, and ESG alignment. Massive investment in transportation, utilities, and housing is drawing capital via infrastructure sukuk. Rising demand for Sharia-compliant instruments among Gulf and Southeast Asian investors supports product innovation. ESG bond strategies are integrating sukuk into green portfolios. Financial hubs are expanding regulatory frameworks to encourage issuance. Lastly, sukuk`s resilience during global volatility makes it a strategic tool for central banks and development agencies.

Scope Of Study:

The report analyzes the Sukuk market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments: Sukuk Type (Murabahah Sukuk, Salam Sukuk, Istisna Sukuk, Ijarah Sukuk, Musharakah Sukuk, Mudarabah Sukuk, Other Sukuk Types); Currency (Turkish Lira Currency, Indonesian Rupiah Currency, Saudi Riyal Currency, Kuwaiti Dinar Currency, Other Currencies); Issuer Type (Sovereign Issuer, Corporate Issuer, Financial Institutions Issuer, Quasi-Sovereign Issuer, Other Issuer Types)

Geographic Regions/Countries: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the Murabahah Sukuk segment, which is expected to reach US$792.2 Million by 2030 with a CAGR of a 13.2%. The Salam Sukuk segment is also set to grow at 10.7% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, estimated at $320.7 Million in 2024, and China, forecasted to grow at an impressive 12.4% CAGR to reach $399.8 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

• Detailed Market Analysis: Access a thorough analysis of the Global Sukuk Market, covering all major geographic regions and market segments.
• Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
• Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Sukuk Market.
• Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

• How is the Global Sukuk Market expected to evolve by 2030?
• What are the main drivers and restraints affecting the market?
• Which market segments will grow the most over the forecast period?
• How will market shares for different regions and segments change by 2030?
• Who are the leading players in the market, and what are their prospects?

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of players such as Abu Dhabi National Oil Company (ADNOC Murban), ABC Islamic Bank, Al Baraka Group, Al Rajhi Bank, Dubai Islamic Bank and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Some of the 34 companies featured in this Sukuk market report include:

• Abu Dhabi National Oil Company (ADNOC Murban)
• ABC Islamic Bank
• Al Baraka Group
• Al Rajhi Bank
• Dubai Islamic Bank
• Emirates NBD Capital
• First Abu Dhabi Bank
• HSBC
• Islamic Development Bank (IDB)
• Kuwait Finance House
• Malayan Banking Berhad (Maybank Islamic)
• Mashreq Bank
• Oman Arab Bank
• Qatar Islamic Bank
• Qatar International Islamic Bank (QIIB)
• Qatar Islamic Bank
• Qatar Islamic Bank
• Qatar National Bank (QNB)
• Saudi Electric Company
• Saudi Arabian Sovereign (Ministry of Finance)

This edition integrates the latest global trade and economic shifts as of June 2025 into comprehensive market analysis. Key updates include:

• Tariff and Trade Impact: Insights into global tariff negotiations across 180+ countries, with analysis of supply chain turbulence, sourcing disruptions, and geographic realignment. Special focus on 2025 as a pivotal year for trade tensions, including updated perspectives on the Trump-era tariffs.
• Adjusted Forecasts and Analytics: Revised global and regional market forecasts through 2030, incorporating tariff effects, economic uncertainty, and structural changes in globalization. Includes segmentation by product, technology, type, material, distribution channel, application, and end-use, with historical analysis since 2015.
• Strategic Market Dynamics: Evaluation of revised market prospects, regional outlooks, and key economic indicators such as population and urbanization trends.
• Innovation & Technology Trends: Latest developments in product and process innovation, emerging technologies, and key industry drivers shaping the competitive landscape.
• Competitive Intelligence: Updated global market share estimates for 2025, competitive positioning of major players (Strong/Active/Niche/Trivial), and refined focus on leading global brands and core players.
• Expert Insight & Commentary: Strategic analysis from economists, trade experts, and domain specialists to contextualize market shifts and identify emerging opportunities.
• Complimentary Update: Buyers receive a free July 2025 update with finalized tariff impacts, new trade agreement effects, revised projections, and expanded country-level coverage.