The chemical industry is evolving rapidly, necessitating faster, more efficient, flexible, and sustainable processes.
Organizations need to innovate by improving design, maximizing performance of operating plants, being able to respond quickly to changes in operation or market conditions and to increase sustainability. A 2022 ABI Research report highlights that digital transformation in organizations is driven by the need for competitive advantage, with digital process twins (comprehensive virtual representations of chemical processes) playing a key role. Are organizations staying up to date with the latest technologies and identifying key areas for optimization to achieve significant impact?
Digital process twins, based on first principles can accurately capture knowledge in the form of models, which then are utilized across development and engineering to understand, predict and optimize performance, monitor operations and facilitate decision making and helping engineers achieve better processes faster and at lower costs.
In this talk, we will provide an overview of how the latest technology and workflows in equation-oriented process simulation enable organizations to accelerate process innovation, reduce time-to-market for new processes, rapid exploration of the decision space and systematic quantification of risk to truly optimize process design and operations for maximum lifetime profit, via a range of recent industry applications.