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In Packaging, we continue to see high demand for plastic substitution and circular solutions. Fiber-based packaging is the most sustainable option for many products, as it can be recycled, reused, or composted. Fiber-based packaging is the fastest growing packaging materials globally, and fiber-based packaging is expected to grow faster than plastic alternatives long-term. We have leading global market positions in high-value segments and long-term customer partnerships. Our innovative and customised solutions help our customers reduce their environmental impact and enhance their brand image. We offer a wide range of fiber-based packaging materials and solutions, such as cartons, boxes, trays, cups, and bags, for various industries, such as food and beverage, e-commerce, pharmaceutical, and cosmetics.
There are growth opportunities in the building industry, offering wooden alternatives to other construction materials that have a larger carbon footprint, such as concrete and steel. The global construction market is moving from labour intensive to modular building methods that use less energy and have a low carbon footprint. Today, mass timber products can be used to build sustainable and safe high-rise buildings. We have a strong position to capture more value in the full supply chain with our products and value-added services, such as pre-fabricated, bespoke wooden elements, new concepts, and digital services.
In Biomaterials, we focus on offering innovative and sustainable materials for high growth, high margin markets with our portfolio of biobased solutions, proprietary technologies, and a unique value proposition. Through our know-how, strategic collaborations and partnerships, we accelerate breakthrough innovations in wood foams, biochemicals, and lignin-based applications, including anode material for batteries and biobinders for construction, which can replace fossil-based materials.
Stora Enso has forest assets in Sweden and a 41% share of Tornator, whose forest assets are mainly located in Finland. The Forest division is responsible for wood sourcing for Stora Enso’s Nordic and Baltic operations.
Climate change requires us to use natural resources more efficiently, and more and more consumers demand sustainable products. Investors and other financial institutions increasingly factor in companies’ climate and biodiversity impacts in their investment strategies. Policy makers and regulators shape regulation to mitigate and adapt to climate change and halt biodiversity loss.