More efficient, modular chemical plants are replacing large-scale facilities as one of many growing trends in an evolving chemical industry, Frost and Sullivan said in a recent report.
Smaller plants with enhanced capabilities could improve plant efficiency by 30 percent, according to the Frost report. Future chemical plants will use smarter processes and plant designs and an integrated system that will sense, respond and sustain feedstock flexibility, productivity, safety and profitability.
In addition, the share of bio-based chemicals will grow to about 15 percent to 18 percent of global chemical sales by 2025.
“Application and material advancements, particularly in fast-growth regions such as Asia-Pacific, are widening the scope of the chemicals market,” said Frost and Sullivan Industrial Automation and Process Control Research Analyst Sonia Francisco. “While emerging countries such as Turkey are taking steps to establish their chemicals market, others like Russia will continue to modernize infrastructure to support growth.”
Chemical manufacturers will focus on integrated value chains, innovation and technology management and chemical recycling to ensure growth and sustainability, Frost and Sullivan reports.
For more information, visit www.frost.com.
