According to expert assessment, by 2020 new technological solutions and diversification could, for example, raise Finland’s current forest industry production by EUR 6 billion (equal to an increase of 22% compared to 2010 level).

Fossil energy and material resources are shrinking, environmental problems are getting worse, and global population growth continues. On a global scale, adjusting to these developments requires radical changes to production methods, to the use of raw materials, and to living habits in general. Bioeconomy provides an answer to many of these challenges, and creates new business.

The forest industry, for example, can expand its current operations into the production of composites, biofuels and biochemicals, and into service businesses. This would also bring about a corresponding growth in sector profitability. “I believe that Finland, thanks to its competences and raw materials, can become a future leader in bioeconomy, and create success and wellbeing for itself. The task requires a new way of thinking and operating: In addition to research, attention must also be paid on development and commercialisation of business throughout the innovation chain”, stated Erkki KM Leppävuori.