VISION: Finland as the global leader in developing and supplying advanced bio-based solutions
“The forest industry already has the most significant sustainable material flows, but we need to increasingly shift towards higher value-add products and materials, especially now with biodiversity loss and scarcity of raw materials.”
—Antti Arasto, Vice President, VTT
Potential to abate 5%-10% of global GHG emissions by shifting to bio-based materials.
>€1 trillion projected global market by 2030 that needs sustainable alternative materials (~€800 billion commodity plastics, ~€100 billion engineering plastics, ~€100 billion textiles).
By 2035, the overall export potential of bio-based and circular products and materials is between €10 billion and €13 billion. The green alternatives are projected to grow at a 6%-12% CAGR up to 2035 (vs. conventional only 1%-4%).
As replacements for emission-intensive and non-degradable materials and products in many industries, these products will have a positive carbon handprint and environmental impact. For example, sustainable textile fibers have a carbon handprint of ~3.3 kg CO2 per kg of textile fiber compared to conventional cotton fibers.
Finland has a lasting right-to-win as one of the world's most forested (~75% of land area) countries (assuming logging is done within set boundaries, to retain forests' role as carbon sinks.)
The Moonshot forms a foundation for bio-based and circular products and materials, bringing together players producing specialized bio-based products and materials for different industries.