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 aerospace forging company was established to produce products using compressive forces such as pressing, and pounding. The following raw materials that were used had adverse effects on the environment -
- Iron Bars
- Blooms or ingots
With a move to sustainability, the company wished to start using raw materials that are safe for the environment. The company hired Research Nester for conducting an extensive ESG analysis and also to set goals and a framework for present and future compliance with the ESG norms. In further research and study, different types of raw materials were mentioned that could be used for the production of the new products and are environment friendly.
Research Nester used its Environmental, Social, and Governance analysis consulting services solution and conducted an in-depth study of the aerospace forging market and ESG norms.
It was needed that our client to incorporate environment-positive internal policies and another framework along with collaboration with sustainable raw materials manufacturers.
Inclusion of raw materials that do not affect or harm the environment needed to be integrated into the company. These include:
- Carbon Steel.
- Alloy Steel.
- Stainless Steel.
- Duplex and aluminum alloys.
- Copper and brass.
Detailed studies about competitive companies listed on a public basis were also down, which complied 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.
Analysts also identified potential risks and further opportunities that could help make the company make a difference.
With the utilization of the Environmental, Social, and Governance analysis consulting services solution, Research Nester measured the company’s present effect on the environment with respect to the raw materials. Our analysts understood where the company was lagging and provided the company with an effective strategy to use the new raw materials for the manufacturing of the new products. This helped the company in upgrading its market value and sustainable growth. Further, the company could raise its market share to 42% during CY2022 from its earlier share of 35% in CY2020.