chemical industry problem

You’ve supercharged your research process with ACS and Mendeley! As a result, companies will require people with higher-level skills to handle complicated processes. The impact of commoditization results in lower margins and switching costs. Note: Transforming data into actionable information, however, requires both the right technologies and the right people. Please reconnect. Forces from end-markets and the upstream oil and gas sector are influencing how regional base chemicals capacity additions are happening and which chemical feedstocks remain the most preferred. The right technologies include systems with analytical and visualization capabilities that enable predictive manufacturing, technical problem solving, process design and hazard analysis, environmental impact mitigation as well as energy efficiency and safety. The percentage of revenue spent on research varies from one branch to another; companies specializing in large-volume products that have been widely used for many years spend less, whereas competition in … Find more information about Crossref citation counts. Find more information on the Altmetric Attention Score and how the score is calculated. The right people are those who can take on more strategic, coordinating and creative activities. Our latest report details massive but gradual shifts in the global petrochemicals industry (petchem) that are changing the way base chemicals capacities are added and utilized. Clicking on the donut icon will load a page at altmetric.com with additional details about the score and the social media presence for the given article. This article has not yet been cited by other publications. Yet it’s useless unless converted into actionable information. Article Views are the COUNTER-compliant sum of full text article downloads since November 2008 (both PDF and HTML) across all institutions and individuals. In lieu of an abstract, this is the article's first page. But awareness is the first step to addressing some of the key components. The new white paper “Industry 4.0: Top Challenges for Chemical Manufacturing” presents three major challenges that chemical manufacturers need to address right now in order to stay competitive. Your Mendeley pairing has expired. Matt Weber The new white paper “Industry 4.0: Top Challenges for Chemical Manufacturing” presents three major challenges that chemical manufacturers need to address right now in order to stay competitive. This could change in the near future as the Chinese launch new production processes. However, the chemical industry and its rapid growth also bring many negative problems, such as safety problems, pollution problems, ecological and environmental problems, high energy consumption, excess manufacturing capacity, etc. While the industry’s 15-year performance still looks good, a closer look at the past five years is less favorable: not only have chemicals lagged the total stock market since 2011 in TRS performance but the industry’s return on invested capital (ROIC) performance has flattened, and for some chemical subsectors, decreased. Transitioning to Industry 4.0 is both a challenge and an opportunity to grow, connect, streamline and build your chemical manufacturing value chain. Some are specific to organizations and depend on where they currently stand regarding technology, operations and resources. Although the industry has struggled against the direct commoditization of their products for decades (more a factor of oversupply), there has been a profound impact from commoditization and disruption in industries downstream from the chemical industry. Senior Manager of Strategic Segment Marketing - Chemicals, Connect on LinkedIn Follow on Twitter https://www.elsevier.com/rd-solutions/chemicals-and-materials, Copyright © 2020 Elsevier, except certain content provided by third parties, Cookies are used by this site. But with transformation also comes challenges. Sitemap, Industry 4.0: Top Challenges for Chemical Manufacturing, https://www.elsevier.com/rd-solutions/chemicals-and-materials, Data Can Help Drive Clean Infrastructure—But It’s Not Enough, 3D Printed “Smart Particles” Promise Revolutionary Micro Structures, The Plastic Bank Addressing Human Problems, Imminent Challenges Threatening The Supply Of Lithium Ion Batteries, Naphtha Margins Pushing Petchem Profits Higher in 2017. Find more information about Crossref citation counts. These areas that will require special focus include the Internet of Things (IoT), actionable information, and standards and best practices. Today’s chemical companies are quickly adapting to the digital world, recognizing the power of “connection” among products, production equipment and personnel. This data overload is the result of Industry 4.0’s reliance on the IoT. Other challenges — such as meeting standards and implementing best practices — are issues that all companies face, and are key to maximizing partnerships and collaborations. Article Views are the COUNTER-compliant sum of full text article downloads since November 2008 (both PDF and HTML) across all institutions and individuals. Cookie Notice Because of the competitiveness within the chemical industry and among the chemicals, the chemical industry spends large amounts on research, particularly in the highly industrialized countries. The Altmetric Attention Score is a quantitative measure of the attention that a research article has received online. You have to login with your ACS ID befor you can login with your Mendeley account. Read the white paper to find out more about how today’s chemical companies can address key challenges and move forward into the era of Industry 4.0. The Future Environmental Impact from the Chemicals Industry The current lack of information on the safety of chemicals on the market as well as the amount of hazardous substances being released into the environment during use and disposal of chemical products will pose a major challenge to policy makers over the next two decades. All opinions shared in this post are the author’s own. Get article recommendations from ACS based on references in your Mendeley library. 4 For some companies the costs of complying with … These metrics are regularly updated to reflect usage leading up to the last few days. Privacy Policy

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