Future-Proofing the Chemical Industry with Digitalization

Abhinav Anand | July 14, 2022 | 816 views | Read Time : 02:00 min

Future-Proofing
Over the next five to seven years, the chemical sector will place a greater emphasis on sustainability, and digitization will play a significant part in this. Reducing resource use, pollution, energy consumption, and waste are some of its main applications. Additionally, it will increase demand for a circular economy supported by IoT, AI, and other digital technologies.

Some of the systems now in place or being used in the sector include autonomous solutions that enable lower energy usage, dispatching systems for effective logistics and strategies for sustainable power and fuel consumption.

Chemical players making the switch to digital platforms have a chance to triumph if they move swiftly and update their operational models in accordance with a few common success characteristics. In fact, according to our study, making the correct decisions can increase total earnings before interest, taxes, depreciation, and amortization by 3 percent or more (EBITDA).

The Next Step of Operational Excellence

The same level of transformation is available with digital technology for optimal performance, together with success-enabling measures. The same level of corporate participation and realignment will also be necessary for the effective implementation of digital technology.

Finance and telecoms were early leaders in adopting digital technology faster than the chemical sector, which has just recently started to move in more significant numbers toward digitalization.

A circular economy in the sector is also being enabled by the use and evaluation of digital technology. The "Right to Fix" movement is being driven by governments and legislators in Europe and the US, and small and medium-sized businesses in the industry are expected to invest in technology that makes it easier to repair electronic items with the least amount of waste.

On a side note, by enabling the re-use of resources and products throughout the supply chain, digitalization with lean manufacturing (LM) would enable businesses to improve operational excellence and create value, thereby supporting the circular economy goal.


Conclusion

Given its extensive safety and regulatory requirements, the chemical sector has evolved slowly. However, as the global economy changes, some skills will become obsolete and others essential.

The interconnectedness of people, processes, and technology, as well as the requirement for real-time insight at the levels closest to the action, are among the basic principles of Industry 4.0. These values have existed for some time and are an extension of our teams' current operational excellence initiatives.

Digital transformation is not a technology endpoint but rather the following stage in the process and business evolution as the chemicals industry advances continuously.

Spotlight

Callery, LLC

Callery offers chemical reagents that enable our customers' chemistry in two main areas. - Boron-based chemicals: (reducing agents, free-radical sources and coupling reagents), and - Non-aqueous bases: (alkali metal alkoxides and alkali metal HMDS salts) for deprotonation In addition, Callery extends our manufacturing skills to custom products in the area of organometallic chemistry or other chemistry that requires a high degree of isolation required to maintain quality and safety. Our operation supports customers serving markets that include pharmaceuticals, agricultural chemicals, rubber, adhesives and many other specialty areas.

OTHER ARTICLES
CHEMICAL TECHNOLOGY

Transporting biological and chemical materials - what you need to know

Article | July 20, 2022

The landscape of biological and chemical logistics has changed rapidly - as have the regulatory frameworks around it. What has not necessarily kept pace is the end-user understanding of the nature of these logistical processes, their opportunities and their constraints. Twenty years ago, the transmission of biological and chemical materials was limited to a small range of organisations: usually national and international research companies, hospitals, major university departments, police and military departments with forensic responsibilities.

Read More
CHEMICAL TECHNOLOGY

Setting record straight on testing harm in chemicals

Article | July 20, 2022

The modern world is built on chemicals, be it the medicines we use, or cleaning fluids, crop protection products, or the raw materials for everything from laptops and mobile phones to clothes and furniture. Across all, we have created an entire modern society with chemicals, and, as a result, constantly stretched the size of the world population we can feed, clothe and shelter. Yet, balancing all the gains from the modern chemistry around us against any negative environmental and human impact has been a rising concern, making for ever greater focus on testing and on risk assessment.

Read More
CHEMICAL TECHNOLOGY

Why chemical characterization is the best way to assess patient risk

Article | May 10, 2021

Everyone is very familiar with the phrase when buying a house: All that really matters are three things - location, location, and location. This same principle applies to extractables and leachables chemistry analysis – the three things that truly matter are identification, identification, and identification. The greatest growth in the past ten years in demonstrating the safety of medical devices and container closure systems for drugs has been using analytical chemistry to determine what chemicals can leach from the device and what the patient is exposed to during its intended use.

Read More

How Chemical Companies Benefit from the Experience Economy

Article | February 10, 2020

To feel or experience from a business engagement started with customer experience mainly in the consumer products business. Today it has extended to even knowledge industries like the chemical industry where experiencing or feeling can be leveraged to include all stake holders from customers primarily to employees to supply chain people & suppliers and all else. With digital technologies this has become easier than before. The benefits from promoting the ‘feel’ or ‘experience’ emotion could be multifarious for the chemical industry as described in this article.

Read More

Spotlight

Callery, LLC

Callery offers chemical reagents that enable our customers' chemistry in two main areas. - Boron-based chemicals: (reducing agents, free-radical sources and coupling reagents), and - Non-aqueous bases: (alkali metal alkoxides and alkali metal HMDS salts) for deprotonation In addition, Callery extends our manufacturing skills to custom products in the area of organometallic chemistry or other chemistry that requires a high degree of isolation required to maintain quality and safety. Our operation supports customers serving markets that include pharmaceuticals, agricultural chemicals, rubber, adhesives and many other specialty areas.

Related News

PRODUCTS AND TECHNOLOGIES, MARKET OUTLOOK

Suspension of Technip Energies’ Liquidity Contract

Technip | November 28, 2022

Technip Energies N.V. announces that the liquidity agreement entered into with Kepler Cheuvreux dated July 9, 2021 has been suspended as of November 22, 2022, pending renewal of the resolution of the general meeting of shareholders authorizing share buybacks. The number of shares and amount allocated as of November 22, 2022, close of trading, to the Liquidity Contract was 8,900 shares and €9,780,454.34. As a reminder, the securities and amounts that were allocated to the Liquidity Agreement as of June 30, 2022, were 207,823 shares and €6,832,747.61. About Technip Energies Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in LNG, hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management. The Company benefits from its robust project delivery model supported by an extensive technology, products and services offering. Operating in 34 countries, our 15,000 people are fully committed to bringing our clients’ innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow. Technip Energies shares are listed on Euronext Paris. In addition, Technip Energies has a Level 1 sponsored American Depositary Receipts program, with its ADRs trading over-the-counter.

Read More

CHEMICAL TECHNOLOGY

Babcock & Wilcox Announces Agreement to Study Development of Biomass-to-Hydrogen Project in South Korea Using BrightLoop™ Technology

Babcock & Wilcox | November 22, 2022

Babcock & Wilcox announced that it has signed an agreement with NRG Korea to study the applicability of B&W’s BrightLoop™ technology for a hydrogen generation facility using biomass fuel in South Korea. B&W’s BrightLoop chemical looping technology is part of its ClimateBright™ suite of decarbonization and hydrogen technologies. The BrightLoop process uses a proprietary, regenerable particle and has been demonstrated to effectively separate carbon dioxide while producing hydrogen, steam and/or syngas, and is ready for commercial scale-up. B&W and NRG have signed a memorandum of understanding to study the technology and potentially develop the project, which would use waste biomass as feedstock to produce hydrogen for fuel cells used for electrical generation. “As the energy transition accelerates, clean hydrogen from net-carbon neutral sources will play an increasingly important role in energy generation. B&W’s BrightLoop technology is a cutting-edge solution for hydrogen generation from virtually any fuel stock, and, depending on a customer’s needs, also can be used to isolate CO2 for capture or use, and produce steam or syngas. BrightLoop is a flexible solution with a wide array of potential applications.” Joe Buckler, B&W Senior Vice President, Clean Energy “We’re excited to have the opportunity to work closely with NRG to develop this groundbreaking clean energy project,” Buckler said. Jay Kim, Chief Executive Officer of NRG Korea said, “NRG Korea is excited to be cooperating with Babcock & Wilcox, a world-renowned technology leader, in the development of this unique and innovative energy project. We see this project as a significant development in the renewable energy space by generating clean electrical power using green hydrogen produced from a renewable waste-based fuel.” NRG Korea, established in 2008, is a Korean company specializing in waste processing and manufacture of alternative fuels and holds a number of patents related to their unique processing technologies. B&W’s ClimateBright suite of revolutionary decarbonization technologies are designed to help utilities and industry aggressively combat greenhouse gas emissions and climate change. These technologies have application for a wide range of industries including energy production, food manufacturing, steel, cement, oil and gas, pharmaceutical, petrochemical, carbon black, and pulp and paper. About Babcock & Wilcox Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises, Inc. is a leader in energy and environmental products and services for power and industrial markets worldwide.

Read More

PRODUCTS AND TECHNOLOGIES, RAW MATERIALS

Capstreet Sells OnPoint, a Provider of Safety, Logistics and Planning Services to the Refining and Petrochemical Industries

OnPoint Industrial Services and Capstreet | November 29, 2022

Capstreet, a Houston-based lower middle market private equity firm, announced that it has sold OnPoint Industrial Services a specialized provider of safety, logistics and planning services designed to support complex maintenance projects in the refining and petrochemical industries, to MML Capital. Terms of the transaction were not disclosed. Through acquisitions and organic growth, OnPoint has assembled a comprehensive suite of support services that allow its customers to manage complex maintenance projects more efficiently and safely. Based in Deer Park, Texas, OnPoint's services include project planning and coordination, transportation and logistics, materials management, and safety services. Capstreet's relationship with OnPoint began in 2015 when it acquired Creative Resource Group (CRG). Subsequently CRG acquired Inotek Safety Consultants and WTMC, eventually rebranding them together as OnPoint. Under Capstreet's ownership, the Company would go on to make three additional tuck-in acquisitions and merge with Certified Safety, expanding its services and footprint under the leadership of a newly created management team. "When Capstreet made its initial investment, we identified a need for a large-scale, single-source service provider of support services for industrial maintenance projects. We recruited an incredible leadership team to the business and together we successfully sourced and integrated several acquisitions and drove organic growth to create one of the recognized leaders in our industry. This has been a tremendous journey, and we believe OnPoint is positioned for ongoing success with its new owner." Paul De Lisi, Partner at Capstreet "OnPoint has transformed over the last few years, adding the services and skills demanded by an evolving industry," said Liz Clark, CEO of OnPoint. "It has been a pleasure working with the Capstreet team to drive this change and expand the Company, and we are excited about what lies ahead." "Thanks to OnPoint's management team and the hard work of its employees, we were able to create value and grow OnPoint from a small industrial services business to what the Company is today," said Walker Kahle, Senior Vice President of Portfolio Operations at Capstreet. "Congratulations to all involved." Willkie Farr & Gallagher served as legal counsel and BlackArch Partners was the financial advisor for Capstreet. About OnPoint Industrial Services OnPoint Industrial Services' offerings are designed to facilitate the safe and efficient flow of people, materials, and equipment during turnarounds and capital projects. By applying people, process, and technology, OnPoint satisfies the logistics requirement of these complex events. About Capstreet Founded in 1990, Capstreet invests in lower middle market software, tech-enabled services, and industrial business services companies. With over 45 platform investments and over 200 add-on acquisitions since inception, Capstreet's investment strategy is focused on utilizing its Capvalue Framework™ to help accelerate growth and profitability, and help create long term sustainable businesses. The majority of Capstreet's investments have been with founder- or entrepreneur-owned businesses.

Read More

PRODUCTS AND TECHNOLOGIES, MARKET OUTLOOK

Suspension of Technip Energies’ Liquidity Contract

Technip | November 28, 2022

Technip Energies N.V. announces that the liquidity agreement entered into with Kepler Cheuvreux dated July 9, 2021 has been suspended as of November 22, 2022, pending renewal of the resolution of the general meeting of shareholders authorizing share buybacks. The number of shares and amount allocated as of November 22, 2022, close of trading, to the Liquidity Contract was 8,900 shares and €9,780,454.34. As a reminder, the securities and amounts that were allocated to the Liquidity Agreement as of June 30, 2022, were 207,823 shares and €6,832,747.61. About Technip Energies Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in LNG, hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management. The Company benefits from its robust project delivery model supported by an extensive technology, products and services offering. Operating in 34 countries, our 15,000 people are fully committed to bringing our clients’ innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow. Technip Energies shares are listed on Euronext Paris. In addition, Technip Energies has a Level 1 sponsored American Depositary Receipts program, with its ADRs trading over-the-counter.

Read More

CHEMICAL TECHNOLOGY

Babcock & Wilcox Announces Agreement to Study Development of Biomass-to-Hydrogen Project in South Korea Using BrightLoop™ Technology

Babcock & Wilcox | November 22, 2022

Babcock & Wilcox announced that it has signed an agreement with NRG Korea to study the applicability of B&W’s BrightLoop™ technology for a hydrogen generation facility using biomass fuel in South Korea. B&W’s BrightLoop chemical looping technology is part of its ClimateBright™ suite of decarbonization and hydrogen technologies. The BrightLoop process uses a proprietary, regenerable particle and has been demonstrated to effectively separate carbon dioxide while producing hydrogen, steam and/or syngas, and is ready for commercial scale-up. B&W and NRG have signed a memorandum of understanding to study the technology and potentially develop the project, which would use waste biomass as feedstock to produce hydrogen for fuel cells used for electrical generation. “As the energy transition accelerates, clean hydrogen from net-carbon neutral sources will play an increasingly important role in energy generation. B&W’s BrightLoop technology is a cutting-edge solution for hydrogen generation from virtually any fuel stock, and, depending on a customer’s needs, also can be used to isolate CO2 for capture or use, and produce steam or syngas. BrightLoop is a flexible solution with a wide array of potential applications.” Joe Buckler, B&W Senior Vice President, Clean Energy “We’re excited to have the opportunity to work closely with NRG to develop this groundbreaking clean energy project,” Buckler said. Jay Kim, Chief Executive Officer of NRG Korea said, “NRG Korea is excited to be cooperating with Babcock & Wilcox, a world-renowned technology leader, in the development of this unique and innovative energy project. We see this project as a significant development in the renewable energy space by generating clean electrical power using green hydrogen produced from a renewable waste-based fuel.” NRG Korea, established in 2008, is a Korean company specializing in waste processing and manufacture of alternative fuels and holds a number of patents related to their unique processing technologies. B&W’s ClimateBright suite of revolutionary decarbonization technologies are designed to help utilities and industry aggressively combat greenhouse gas emissions and climate change. These technologies have application for a wide range of industries including energy production, food manufacturing, steel, cement, oil and gas, pharmaceutical, petrochemical, carbon black, and pulp and paper. About Babcock & Wilcox Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises, Inc. is a leader in energy and environmental products and services for power and industrial markets worldwide.

Read More

PRODUCTS AND TECHNOLOGIES, RAW MATERIALS

Capstreet Sells OnPoint, a Provider of Safety, Logistics and Planning Services to the Refining and Petrochemical Industries

OnPoint Industrial Services and Capstreet | November 29, 2022

Capstreet, a Houston-based lower middle market private equity firm, announced that it has sold OnPoint Industrial Services a specialized provider of safety, logistics and planning services designed to support complex maintenance projects in the refining and petrochemical industries, to MML Capital. Terms of the transaction were not disclosed. Through acquisitions and organic growth, OnPoint has assembled a comprehensive suite of support services that allow its customers to manage complex maintenance projects more efficiently and safely. Based in Deer Park, Texas, OnPoint's services include project planning and coordination, transportation and logistics, materials management, and safety services. Capstreet's relationship with OnPoint began in 2015 when it acquired Creative Resource Group (CRG). Subsequently CRG acquired Inotek Safety Consultants and WTMC, eventually rebranding them together as OnPoint. Under Capstreet's ownership, the Company would go on to make three additional tuck-in acquisitions and merge with Certified Safety, expanding its services and footprint under the leadership of a newly created management team. "When Capstreet made its initial investment, we identified a need for a large-scale, single-source service provider of support services for industrial maintenance projects. We recruited an incredible leadership team to the business and together we successfully sourced and integrated several acquisitions and drove organic growth to create one of the recognized leaders in our industry. This has been a tremendous journey, and we believe OnPoint is positioned for ongoing success with its new owner." Paul De Lisi, Partner at Capstreet "OnPoint has transformed over the last few years, adding the services and skills demanded by an evolving industry," said Liz Clark, CEO of OnPoint. "It has been a pleasure working with the Capstreet team to drive this change and expand the Company, and we are excited about what lies ahead." "Thanks to OnPoint's management team and the hard work of its employees, we were able to create value and grow OnPoint from a small industrial services business to what the Company is today," said Walker Kahle, Senior Vice President of Portfolio Operations at Capstreet. "Congratulations to all involved." Willkie Farr & Gallagher served as legal counsel and BlackArch Partners was the financial advisor for Capstreet. About OnPoint Industrial Services OnPoint Industrial Services' offerings are designed to facilitate the safe and efficient flow of people, materials, and equipment during turnarounds and capital projects. By applying people, process, and technology, OnPoint satisfies the logistics requirement of these complex events. About Capstreet Founded in 1990, Capstreet invests in lower middle market software, tech-enabled services, and industrial business services companies. With over 45 platform investments and over 200 add-on acquisitions since inception, Capstreet's investment strategy is focused on utilizing its Capvalue Framework™ to help accelerate growth and profitability, and help create long term sustainable businesses. The majority of Capstreet's investments have been with founder- or entrepreneur-owned businesses.

Read More

Events