Industry 4.0 to push for advanced manufacturing – Analysis


By 2025, digital transformation could add between $310 billion and $550 billion of economic value to the global chemicals and advanced materials industry, according to an analysis by the World Economic Forum (WEF) and IT major, Accenture.Industry 4.0 has arrived, blurring the lines between the digital and physical worlds. As intelligent, interconnected systems seamlessly support activities along the entire value chain, Industry 4.0 is transforming manufacturing industries across the globe.  Read More

In an interview, Thomas Schopphoven, Graduate Engineer, Fraunhofer Institute for Laser Technology ILT, Aachen, Germany with Chemical Today Magazine talks about the cutting-edge research on ultra-high-speed laser material deposition technology. The new process comes out on top not only in cost, quality and sustainability but also in retaining jobs in Europe.Special coatings protect components against corrosion and wear. However, standard processes such as hard chrome plating, thermal spraying, laser material deposition or other deposition welding techniques have drawbacks. Read More

Industry insights:North America chemical tanker shipping market size was valued at $259.2 billion in 2016 and is expected to reach $339.5 billion by 2027, according to a new report by Grand View Research Inc.The increase in North American chemical export coupled with rising demand for plastic feedstock is projected to spur the growth during the forecast period. The decrease in crude oil prices is allowing ship owners to operate on a better profit margin as bunkering cost is low. Read More

MOSCOW, RUSSIA/VADINAR, INDIA: Rosneft has successfully completed the acquisition of 49.13 percent shares of Essar Oil Limited (EOL) from Essar Energy Holdings Limited (EOL) and its affiliates.An investment consortium comprising Swiss commodity trading firm Trafigura and Russian private fund United Capital Partners (UCP) has also announced the closure of their acquisition of a separate 49.13 percent share of EOL.The closing of the acquisition enables Rosneft to enter one of the world’s fastest-growing markets (29.8 percent cumulative GDP growth in India in 2013-2016). Read More

Advertisements