Originally Published on: Quantzig|How Will the Use of Analytics Benefit the Chemical Industry?
Driving Operational Excellence and Innovation in the Chemical Sector
The chemical industry, a cornerstone for diverse manufactured goods, is currently experiencing a revolutionary shift catalyzed by the integration of advanced analytics. Traditionally focused on high-volume, lucrative markets, the industry is now navigating a digital transformation pathway, tailoring both commodity and specialty chemicals based on end applications. Technologies such as the Internet of Things (IoT), artificial intelligence (AI), robotics, additive manufacturing, and advanced analytics are pivotal in reshaping this sector. With an annual sales volume of approximately US$5 trillion and a global workforce of nearly 20 million employees, the chemical industry strategically leverages its rich historical data sets to derive actionable insights into its capabilities.
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1. Preventative Maintenance and Asset Management
Preserving Operational Resilience
Equipping chemical industry equipment, from turbines to compressors, with sensors generates a continuous stream of valuable data. Analytics utilizes this data to identify patterns, predict potential breakdowns, and prevent machinery failures. Comparative analysis with data from similar equipment ensures performance optimization, allowing chemical companies to avoid unexpected shutdowns and enhance productivity.
2. Detection of Alarms
Safeguarding Against Hazards
Given the hazardous nature of chemicals in this sector, continuous monitoring of production, storage, and transportation is imperative. Analytics plays a crucial role in efficiently monitoring and mitigating explosive gas levels, such as hydrogen, oxygen, sulfide, nitrogen dioxide, sulfur dioxide, and carbon monoxide. This proactive approach prevents mishaps or explosions, safeguarding both lives and property.
3. Energy Management
Optimizing Operations for Efficiency
In complex chemical plants with multiple dynamic operations, selecting optimal operating conditions is challenging. Advanced analytics, coupled with smart manufacturing techniques, employs technologies like soft sensors. These sensors process numerous data points, enabling control of non-standard processes and improving energy efficiency. Chemical companies can ensure not only energy efficiency but also cost reduction through these measures.
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4. Load Forecasting
Precision in Resource Planning
Accurate forecasting is a cost-saving endeavor for chemical companies, especially when dealing with volatile raw material markets. Analytics aids in precisely forecasting the load of raw materials, such as oil, natural gas, air, water, metals, and minerals. This capability allows companies to effectively meet the demand and supply requirements of power and energy.
5. Safety Management
Real-time Monitoring for Enhanced Safety
Moving beyond traditional safety methods, Industry 4.0 and advanced analytics technologies focus on real-time data monitoring. For example, piezoelectric composite paints can sense mechanical vibrations or cracks in a chemical tank, reducing production risks. This proactive safety management approach enhances overall operational safety in the chemical industry.