From recycled materials manufactured batteries, green steel, wood-based textile fibers, fossil-free fertilizers, demand flexibility systems that control the energy consumption of buildings and industry. Among other things, there will soon be a lot of need for these products and services in the world, and Finnish companies are in a good position to grab a big slice of the growing market.

This is the vision of a report commissioned by the business network Climate Leadership Coalition and carried out by the consulting firm Boston Consulting Group (BCG), which aims to identify what kind of export opportunities the green transition brings to Finnish companies.

The need to reduce emissions and protect biodiversity will be a key driver of investments in the coming decades, which will create demand for new types of solutions. According to the report, Finnish companies have exceptionally strong starting points and great growth potential in at least five sectors.

One The “tip of the spear” are bio-based products and materials. Finland has large forest resources and a lot of know-how in the field. Future export products include, for example, wood-based textile fibers and materials used to replace plastic in packaging or vehicles.

According to the report, another favorable growth area for Finland is products and services related to reducing industrial emissions. Industry all over the world is feverishly looking for ways to reduce emissions, and Finland has know-how and pioneering companies in the field.

The third growth area is the refined products made from green hydrogen, for example synthetic fuels for sea and air traffic and fossil-free fertilizers. On the other hand, the report does not see much export potential for hydrogen itself.

“We don’t think it’s worth exporting green hydrogen outside Finland’s borders in any way,” says a BCG partner Elina Ibounig.

According to the report, the battery industry and pure steel also have great export potential. Finland has exceptional ore reserves by European standards, and an industry specializing in recycling battery materials is also emerging here.

As a new, less publicized growth tip of the future, the report highlights solutions that reduce emissions in housing and construction, for example the management of energy consumption in wood construction and buildings.

Five the total export potential of the spearhead industry may be up to one hundred billion euros in 2035, the report estimates. In this way, seizing the opportunities offered by the green transition could reverse the trend of the 21st century, where Finland has consistently lagged behind competitor countries in terms of economic growth.

On the flip side, there is a risk of losing the market.

“If our technology exports don’t decarbonize or the steel industry doesn’t go green, they will fall out of the market. These sectors must become greener,” says Ibounig.

According to the report, the state can speed up the emergence of future export hubs with, among other things, education policy, fast permit processes and regulation that enables the testing and development of future solutions in the domestic market.

The state should also increase investments in brand work, which will create Finland as a model country for clean solutions in the world. The authors suggest, for example, the creation of an international clean technology conference in Finland, a kind of green technology Slush event. It would bring Finland to the attention of investors and customers.

“It could start generating demand right away. Compared to, for example, training experts, it is a method that could bring quick benefits.”