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Ice cream industry is one of the few markets where demand has been reported to be high. Changes in lifestyle are one of the factors that drive the market in the commercial aspect. However, there are challenges to the industry in terms of both environmental and social aspects. The packaging waste and the value chain emissions impact the market in terms of environment, whereas the adverse effects of consumption of products negatively affect the social aspect of ESG.
Why is it important to have ESG?
The abbreviation ESG stands for environmental, social and corporate governance. It is a measurement that takes into account a company's social and environmental impact on the global community. It brings awareness to the different climate issues that are occurring and encourages businesses to adopt practices and policies that are better for the environment. ESG not only helps businesses by attracting a more diverse workforce to bring in new ideas, but it also helps businesses have a greater positive impact on our world.
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The global aerospace composites market size is projected to reach USD 29.69 billion by 2026, exhibiting a CAGR of 9.27% during the forecast period. Heavy reliance on carbon fiber composites for manufacturing aircraft components will be the key growth driver for this market, states Fortune Business Insights™ in its report, titled “Aerospace Composites Market Size, Share & Industry Analysis, By Fiber Type (Carbon, Glass, Aramid, and Others), By Aircraft (Commercial Aircrafts, Military Fixed Wings, Business Aircrafts & General Aviation, Jet Engines, Helicopter, and others), and Regional Forecast, 2019-2026”. Carbon fiber composites replaced aluminum as the primary material for making airplanes a few decades ago as aluminum was proving economically infeasible for aircraft manufacturers. The switch to carbon fiber was based on the material’s lightweight properties as well as high durability and tensile strength. Moreover, carbon fiber, unlike other metals, is resistant to corrosion and fatigue and therefore, reduces the maintenance costs of aircraft. For example, Boeing utilizes carbon fiber composites in making all parts of its iconic 787 Dreamliner to keep it lightweight and sturdy. Thus, the emergence of carbon fiber has augured well for the market for aerospace composites.
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