Article | July 8, 2022
Intelligent Operations can play a vital role in creating connected content environments, however, many companies – especially within oil and gas – having been slow on the uptake.
Businesses that implement digital transformation initiatives often gain a competitive advantage over their rivals, as they benefit from reductions in human error, increases in productivity and further support for compliance efforts.
Article | August 2, 2022
The chemical industry is evolving. The marketing, purchasing, and selling of chemicals are being affected by forces in the market, with digitization unquestionably having the most significant impact. Many of the existing digitizing models have likely already been given some thought and then rejected.
Chemical businesses are currently conducting pilot projects or starting to gradually scale up their digital initiatives after moving past the proof-of-concept stage. Although this past year brought many difficulties, it also provided an opportunity to revise and re-evaluate foundations moving forward. The Great Reset, as the World Economic Forum has dubbed this time period, is illuminating how the chemical industry might leverage digital technologies to advance.
Whether prompted by governmental requirements or consumer desires, chemical businesses' net-zero ambitions will necessitate new expenditures throughout the whole chemical value chain. As a result, back-office costs must be as efficient as possible to free up money to pay for those investments while keeping a profit.
The most essential requirements for the success of a new product are a solid understanding of customer needs and wants, the competitive climate, and the makeup of the market. The primary factors that influence the needs of the consumer are price, timing, and quality. Therefore, companies create ongoing procedures and plans with these three factors in mind to better serve client needs and grow their market share by regularly creating new products.
The influence of digital technology is constantly growing. One of the foundational elements of 21st-century sources of growth is data-driven innovation. There are numerous items and procedures in the history of innovation that were the result of an accident or careful forethought. Vast volumes of data, or "big data," are being produced and used as a result of the convergence of numerous phenomena, including the growing migration of socio-economic activities on the Internet and the decline in the cost of data collecting, storage, and processing.
Large data sets are becoming an essential resource for the economy, supporting the development of new markets, procedures, and goods while also generating substantial competitive advantages. For example, a billion customers can now access broadband at a reasonable price because of the digital world's supporting infrastructure. In addition, cloud computing and the enormous amount of information processing equipment it needs are developing swiftly, and low-cost connected gadgets are being introduced into every industry.
The financial gains that can be realized through digitization are genuine. The new digital technologies and businesses have seen an influx of cash, and the public markets are rewarding early adopters with record values. The effects of digitization are spreading swiftly throughout every business. Digitization is the changing of life and work as a result of new technologies, not only their acceptance. Much like earlier technologies, modern emerging technologies like the cloud and big data quickly become part of businesses' operations. Unknown to many, this is having a much more significant impact on the industry that makes these tools as well as on customers.
Digitalization that derives from and includes strategic business objectives can greatly benefit chemical firms. Cost savings of roughly 30 to 40 percent can already be made on average today. Additionally, in certain situations, digitalization aided in improving service quality and affected the bottom line by, for instance, enabling new business models. On average, platform-driven digitization projects pay off after 18 months.
Article | July 13, 2021
NICE WORK, if you get can get it. A trucking company in Fort Worth, Texas, is offering to pay experienced drivers $14,000 a week – $728,000 a year – as the US struggles with a nationwide shortage of truckers or lorry drivers.
This reminds me of perhaps an apocryphal tale, from the height of the last Australian mining boom. Before iron ore prices collapsed in late 2014, there was a story about workers at mining site road junctions who operated manual “Stop and Go” signs. They were said to be earning more than Australian dollar (A$) 200,000 a year.
Before you pack in your job as, say, a petrochemicals sales manager and head to Texas or mine sites in Western Australia, there is the risk that when you arrive at the door of your new prospective employer, the bubble might have already burst. This is assuming we are in bubble conditions.The pressure is clearly building in petrochemicals and other commodity markets as prices in some regions remain at record highs or continue to rise.
Today’s prices are the results of shortages of commodities supply (for example in petrochemicals, an outcome of the US winter storms), very strong demand and supply chain disruptions.I am beginning to believe that the latter is the biggest reason for commodity price inflation which is feeding through into sharp rises in the cost of finished goods – and a lack of goods availability.
It is delivering and manufacturing enough stuff that seems to be at the heart of today’s problems due to shortages of everything from container freight space and semiconductors to wooden pallets, tin cans, metal drums, cardboard – and US truck drivers.
Article | June 6, 2022
An enzyme-mimicking catalyst opens a new route to important organic molecules such as glycolic acid and amino acids from pyruvate, report researchers in Japan. Moreover, the new catalyst is cheaper, more stable, safer and more environmentally friendly than conventional metal catalysts used in industry, they note, adding that it also displays the high enantioselectivity required by the pharmaceutical industry.
“On top of these advantages, our newly developed organic catalyst system also promotes reactions using pyruvate that aren’t easily achievable using metal catalysts,” says Santanu Mondal, a PhD candidate in the chemistry and chemical bioengineering unit at Okinawa Institute of Science and Technology (OIST) Graduate University, Okinawa, Japan, and lead author of a study recently published in Organic Letters.
“Organic catalysts, in particular, are set to revolutionize the industry and make chemistry more sustainable,” he stresses.
The researchers use an acid and an amine mixture to force the pyruvate to act as an electron donor rather than its usual role as an electron receiver (Figure 1).
Effectively mimicking how enzymes work, the amine binds to the pyruvate to make an intermediate molecule. The organic acid then covers up part of the intermediate molecule while leaving another part that can donate electrons free to react to form a new product.
Currently, the organic catalyst system only works when reacting pyruvate with a specific class of organic molecule called cyclic imines.
So, the researchers now are looking to develop a more-universal catalyst, i.e., one that can speed up reactions between pyruvate and a broad range of organic molecules.
The challenge here is to try to make the electron-donating intermediate stage of pyruvate react with other functional groups such as aldehydes and ketones. However, different catalysts create different intermediates, all with different properties. For example, the enamine intermediate created by the researchers’ new reaction only reacts with cyclic imines. Their hypothesis, currently being investigated, is that creation of other intermediates such as an enolate, if possible, would achieve a broader pyruvate reactivity.
In terms of cost, the researchers note that a palladium catalyst used in similar reactions is 25 times more expensive than their organic acid — which also is made from eco-friendly quinine.
In addition, they believe scale-up of the process for industrial use definitely is possible. However, the researchers caution that the current amine-to-acid-catalyst loading ratio of 1:2 probably would need to be optimized for better results at a larger scale.