Originally Published on: Quantzig|How Will the Use of Analytics Benefit the Chemical Industry?
Igniting Advancements in the Chemical Landscape
The chemical industry, a cornerstone of manufacturing, permeates nearly every global product. Originating from the conversion of petroleum and natural gas into intermediate materials, it encompasses a vast array of goods. With a sprawling workforce and annual sales nearing US$5 trillion, the industry has undergone a profound evolution. Digital transformation has become the catalyst for strategic growth, reshaping the production of both commodity and specialty chemicals, tailored for specific applications. Technologies such as the Internet of Things (IoT), artificial intelligence, robotics, additive manufacturing, and advanced analytics play pivotal roles in this evolution. By leveraging historical data sets, chemical companies unravel patterns, gaining profound insights into their capabilities.
Empowering Preventative Maintenance and Asset Management
Sensors affixed to chemical industry equipment generate a continuous data stream, a valuable resource for analytics. Utilizing this data, analytics identifies patterns, predicts potential breakdowns, and prevents machinery failures. Cross-referencing data from similar equipment ensures performance optimization, preventing unexpected shutdowns, and enhancing productivity.
Vigilant Detection of Alarms
Given the highly hazardous nature of chemicals, continuous monitoring of production, storage, and transportation is paramount. Analytics serves as a vigilant guardian, efficiently monitoring and mitigating explosive gas levels. This proactive approach prevents mishaps or explosions, safeguarding lives and property.
Strategic Energy Management
In the dynamic operations of a chemical plant, selecting optimal operating conditions poses challenges. Advanced analytics and smart manufacturing leverage technologies like soft sensors, processing myriad data points, and enhancing control over non-standard processes. This ensures not only energy efficiency but also cost reduction.
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Precision in Load Forecasting
Accurate load forecasting in the chemical industry translates to substantial cost savings. Analytics mitigates inherent risks, enabling companies to precisely forecast raw material loads. This strategic foresight aids in meeting demand and supply requirements for power and energy.
Revolutionizing Safety Management
Traditional safety methods in the chemical industry relied on sample collection and testing. Enter Industry 4.0 and advanced analytics, employing real-time data monitoring techniques. For instance, piezoelectric composite paints sensing mechanical vibrations or cracks in chemical tanks mitigate production risks.
