Skip to main content

INDUSTRY 4.0 - TRANSFORMING THE CHEMICAL INDUSTRY


 “The chemicals sector, which is the backbone of many end-market industries, could be transformed by Industry 4.0, which blends digital and physical advanced technology. These technologies enable "smart" supply chains and factories, as well as new business models, through their dual fields of company operations and growth.”

Almost every produced product is influenced by the chemicals sector in some way. Petroleum and natural gas are transformed into intermediate materials, which are then transformed into items we use every day. The worldwide chemicals industry, which employs more than 20 million people and generates $5 trillion in annual sales, is the backbone of numerous end-market industries such as agricultural, automotive, construction, and medicines. As a result, changes in the chemicals business are likely to have an impact on a variety of other businesses.

Read More :- https://www.pukkapartners.com/insight/industry-40-transforming-the-chemical-industry

Major Market Highlights:       

  • Solvay has stated that the capacity of its hydrogen peroxide plant in Jemeppe-sur-Sambre (Belgium) will be increased, allowing for increased H2O2 production. The company also intends to enhance the capacity of its plants in Bernburg (Germany) and Voikkaa (Finland) (Finland). These expenditures are in response to increased product demand in Europe, both for existing and new applications.
  • Kanto Chemical Co., Inc. committed around USD 63.7 million in expanding its production facilities in Taiwan to suit the growing demand of key local semiconductor clients. The annual output of semiconductor products will expand from 120,000 to 200,000 tonnes at this facility.
  • Cabot Microelectronics purchased KMG Chemicals (US) and became the North American region's biggest chemical distributor of semiconductor consumable materials. Cabot's existing portfolio will be supplemented by this acquisition, which will expand customer touchpoints with leading semiconductor manufacturers.

Conclusion: Industry 4.0 will bring several opportunities in the chemical industry

As firms move away from the pay-by-the-ton revenue model and focus on providing value-added products and services to their customers, Industry 4.0 will certainly have an impact on how they run and expand their operations. The decisions firms make today, as well as the activities they commit to in the coming years, will determine how quickly and successfully they perform.

Chemical firms can plan their Industry 4.0 journey and identify ways to connect their digital and physical assets across different stages of the value chain if they have a strong grasp of their strategic imperatives.

Email / Call Us at :
 engage@pukkapartners.com
 APAC: +91 70226 21355
 United States: +1 858 939 9252

Comments

Post a Comment

Popular posts from this blog

VIRTUAL ASSISTANTS FOR IMPROVING CUSTOMER EXPERIENCE IN TELECOM INDUSTRY

 If you consider the customer satisfaction index, the telecom industry is probably one of the worst ranking industries. But that was only until 2019. By the end of 2020, together, the sector made sure to climb up the satisfaction rate. And guess what? They will be able to do that. However, it’s just the beginning.  The importance of customer experience is growing like never before. And one tool that’s helping telecom industries is the use of virtual assistants. Did you know that OTT platforms are eroding the revenues of telecom industries? With video-on-demand media, the consumers are trying to cut the cord even more eager than ever before.  However, things are changing. How? Let’s find out! Virtual Assistants Aiding in Better CX in Telecom: Decoding the Ways If the telecom industry upgrades its digital customer engagement scale, it can easily experience the upsides in terms of better engagement, services, resulting in boosting sales. However, telecom operators often don’t have the peo
Read more

E-HEALTH: THE BOOM IN DIGITAL HEALTH TO DUISRUPT LIFE SCIENCES AND MEDICAL COMMUNITY

  E-Health is an developing field in the intersection of public health, medical informatics, and business, mentioning to health services and data delivered or enhanced through the Internet and connected technologies. In the broader sense, the term characterizes a technical development and a state of mind, a way of thinking, an attitude, and a commitment for networked, global review, to recover health care locally, regionally, and globally by using information and communication technology. The 5 e's in "E-Health" Efficiency  - one of the promises of e-health is to increase efficiency in health care, thereby decreasing costs. One possible way of reducing costs would be by avoiding duplicative or unnecessary diagnostic or therapeutic interventions through enhanced communication possibilities between health care establishments and patient involvement. Enhancing quality  of care - increasing efficiency involves not only reducing costs but at the same time improving quality. E-
Read more

HYDROGEN STORAGE - A DISRUPTIVE TECHNOLOGY INNOVATION

  Excessive expectations have been met with disappointment in the past with hydrogen technologies. Nonetheless, a rising body of research suggests that these technologies are a viable choice for deep decarbonization of global energy systems, with recent cost and performance advances pointing to economic viability. The cost of producing, transporting, and storing hydrogen has decreased dramatically. This is complemented by an increase in clean technology regulations. As a result, we predict that hydrogen technology will gain traction, particularly in the transportation and alternative energy generation sectors. The transition to a sustainable energy economy needs an energy carrier capable of large-scale carbon-free energy transfers. Hydrogen is a sustainable energy carrier with the potential to benefit the whole energy sector. However, storing significant amounts of hydrogen is difficult. There are numerous obstacles to overcome in order to achieve a cost-effective hydrogen cycle. Hydro
Read more