Chemical Manufacturing

The global chemical industry is going through difficult times. Geopolitical tensions, inflation, sustainability pressures, supply-chain interruptions, and demographic challenges have greatly complicated its operations. On top of these issues, the prices of natural gas—the primary feedstock for the industry—have risen 420 percent compared with average prices in Europe in 2010 to 2020. However, Europe is the second-largest chemical market in the world and a leader and a highly innovative sector. For Europe to remain competitive on the world stage, it must embrace and unlock innovations in manufacturing technology.

chemical manufacturing hero

Chemical sector in numbers

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Chemical companies in Europe

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of EU manufacturing

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Value of European chemical sales in 2021

Providing solid foundations to build the future of chemical manufacturing

Gather and analyse data from multiple sources

IoT technology is empowering chemical companies to gather and analyse data from multiple sources, including sensors and devices, to make data-driven decisions and optimise their processes and monitor the performance and conditions of the equipment used during the manufacturing process. VX Observe currently monitors more than 21,000 sites and 160 million assets alarms per year and can help chemical companies:  

  • Predict and prevent asset failures days before they happen
  • Improve first-time fix rates
  • Maximise operational efficiency
  • Reduce equipment downtime and impacts

Identify potential equipment issues before they become critical

Predictive maintenance is vital in a sector where equipment failure can result in costly downtime, safety hazards, and environmental damage. By using data analytics and machine learning techniques, predictive maintenance can identify potential equipment issues before they become critical. Maintenance Connection - an easy-to-use platform with a simple quick implementation - helps maintenance teams:

  • Transition from reactive to preventive asset maintenance
  • Extend asset life
  • Maximise the ROI

A single source of truth in complex environments

The chemical sector is governed by diverse regulations necessitating meticulous documentation while quick information retrieval and secure record-keeping are crucial for transparency, efficiency, and regulatory adherence. Meridian provides a single source of truth in complex engineering, project, and operational environments. It serves 50% of the top 10 chemical companies helping them to:

  • Streamline document management
  • Ensure safety and compliance
  • Maximise company-wide collaboration
  • Achieve a single source of asset information

Focus on Energy management to improve efficiency

The European chemical sector is energy-intensive with costs contributing significantly to a chemical plant’s production costs. With macroeconomic activity in a constant state of flux, chemical manufacturing companies must focus on energy management systems to improve energy efficiency. Observe for Energy Management can help achieve this by providing monitoring and targeting capabilities helping to:

  • Identify savings opportunities
  • Lower costs
  • Reach energy consumption targets
  • Meet ESG goals