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2.3 How Will Digital Affect the Chemical Industry and Where Can the Biggest Impact Be Expected?

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The global management firm M/s Mckinsey has studied and reported that digital transformation is changing the entire chemical business in three major ways, as depicted in Figure 2.2 (Klei et al., 2017).

Table 2.1 Comparisons between smart and conventional chemical industries

Items Conventional chemical industry Intelligent chemical industry
Integration mode Integration for processes Integration of supply chain network
Optimization goals Profit optimization on specific conditions Profits optimization considering market demand, device status, energy conservation and emissions reduction
Optimization patterns Serial mode conducted offline Synchronous optimization of decision‐making and control adjustment employed online
Technical economic feature Large‐scale Equilibrium between large‐scale and necessary flexibility
Operation mode Specialized manufacturing Combination of manufacturing and service
Decision factors Operational and technical factors Users' requirements, products, quality standard, operating condition, resource, system reliability status
Control mode Discrete control Advanced process control
Intelligent degree Low level Artificial intelligence embedded in the process optimization control
Control platform Discrete control system Contemporary integrated process system
Flexibility Limited flexibility, adaptive scope and function redundancy More flexible configuration, adaptive to multiple optimization control modes
Data supporting Local small data Big data
Algorithm Traditional statistical analysis Statistical analysis, data mining, AI and visualization techniques

Figure 2.2 Three major ways digital transformation will impact the chemical industry

Profit Maximization Techniques for Operating Chemical Plants

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