Case Study | 07 October 2024
How an Aerospace Forging Company Can Stop its Raw Materials from Affecting the Environment?
Posted by : Ayushi Sharma
The leading aerospace forging company had been affecting the environment due to its raw materials. The aerospace forging Industry in a move towards sustainable growth approached research Nester for the right guideline and map for its streamlined growth. A closer look at the company was conducted and a detailed environmental, social, and governance analysis for better sustainable growth was put in place as a result.
An overview:
- A prominent aerospace forging company from India, having a remarkable market share, wanted to upgrade itself and raise its market value in the industry, by incorporating environmentally friendly raw materials.
- The company aimed to increase its market share by manufacturing more products by the end of the year by using raw materials that are environmentally friendly and reach the top position in the aerospace forging industry.
- Research Nester helped through its Environmental, Social, and Governance analysis consulting services solution in finding out the raw materials that are safe for the environment for the production of the new products. This helped in making an impeccable strategy for upgrading the growth of the aerospace forging market in the aerospace forging industry and giving the state of aerospace forging services to the customers.
The Story
Research Nester found that there were approximately a 30% of environment (aquatic life) was affected by the fluid additives used by the industry fastener company in the last years. Furthermore, different types of fluid additives were used for production of the new products that does not affect the environment. The team found out that the fluid additives affects the environment by -
- Health Effects: The health effects associated with fluid additives are different according to the specific components of the additive but may include eye irritation or skin damage. In the case of additive packages, it may contain components which are capable of affecting reproduction or development after exposure to higher doses. Skin sensitization and chronic organ effects are not expected to be caused by these additives.
- Environmental effects: These are generally composed of either nontoxic or toxic additives to aquatic life, with long lasting effects. Some have components that could remain in the environment for a long time.
- Exposure: Skin contact in the course of making and processing is one of the main sources of exposure to industrial workers. The degree of exposure may vary, depending on the type of manufacturing system open or closed and its capacity for engineering controls, material handling practices and use of protective equipment. Exposure to the inhalation, which would not otherwise have been considered a major exposure path, can be increased by handling at high temperatures or combustion of vapors and mists.
Here, owing to the advent of the industrial fastener industry, the company was incapable of getting the fluid additives for the production of the new products that does not affect the environment. This was also causing a drop in the demand for the product. It shall also lay down a framework to ensure the implementation of practices and strategies for areas which are interlinked with societal, economic or environmental factors that must be able to integrate sustainability concerns both at local level as well as globally.
Our Solution:
Research Nester used its Environmental, Social and Governance analysis consulting services solution and found various notable industrial fastener market which were incorporating, but not our client. Hence, it was needed that our client too incorporated those industrial fastener industries, to get the idea of using the fluid additives that does not affect or harm the environment and manufacture the new products by them are:
Automotive Transmission Fluid Additives:
- Oxidation Control & Stability – protects transmissions against sludge & varnish buildup.
- Friction Control – balances torque transfer and encourages smooth shifting.
- Friction Durability – maintains consistent friction performance over time.
- Shear Stability – maintains correct and consistent fluid viscosity over time.
- Low-Temperature Performance – retains proper fluidity even in cold-weather applications.
- Extreme Pressure & Anti-Wear Protection – helps maintain parts durability in high-pressure.
- Foam & Aeration Control – helps eliminate entrapped air to encourage peak performance from transmission pump
This is not only one of the world's largest industrial fastener companies, but they are also listed and have been operational for more than a century. As they are listed on a public basis, these must comply with internationally accepted accounting and sustainability reporting standards. An analysis has been carried out of how they have incorporated sustainability principles into their core business, and recommendations for improvement were made.
Results
With the utilization of the Environmental, Social and Governance analysis consulting services solution, Research Nester measured the company’s current effect of the raw materials by the company on the environment. Our analysts understood where the company was lagging behind and provided the company an effective strategy to use the new fluid additives for the manufacturing of the new products. This helped the company in upgrading its market value and product delivery strategies. Further, the company could raise its market share to 50% during CY2023 from its earlier share of 25% in CY2020. The company also raised the demand of the product by 80%.
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