The petrochemical industry has been experiencing record-breaking profits over the past few years. A lot has to do with advantaged gas feedstocks available for downstream processes that convert olefins such as ethylene and propylene into plastics and rubbers that are used in growth markets such as the United States and Asia.
In the April, 2017, edition of Hydrocarbon Processing magazine that highlighted developments in the petrochemical industry, two articles were featured – one by The Dow Chemical Company, Freeport, Texas, entitled “Shaping the future of on-purpose propylene production”, and the other by the National Research Center (NRC), Cairo, Egypt, entitled “An investigative study for technological innovation for ethylene plants”. While the two articles by definition covered different aspects of the petrochemical chain, the underlying message was nonetheless consistent. Innovation is the key to the development of sustainable, cost advantaged methods of petrochemical production through lower overall energy consumption, optimization of product mix, and an accompanying reduction in environmental emissions.
Imtex Membranes is currently in the process of commercializing Permylene, an innovative membrane technology for efficient olefin-paraffin separation. Suited for C2 to C4 applications, Imtex is exploring a wide range of applications by working closely with industry leading technology and operating companies.
According to a recent report “Membrane Separation Technology Market by Application (Water & Wastewater Treatment, Food & Beverage, Medical & Pharmaceutical, Industrial Processing), Technology (RO, UF, MF, NF), and Region - Global Forecast to 2022", the membrane separation technology market is projected to grow from USD 18.55 Billion in 2016 to USD 28.10 Billion by 2022, at a CAGR of 7.2%. While much of this growth is expected to focus on the rising demand from water treatment applications, there are a number of other areas of interest in the industrial, pharmaceutical, and petrochemical sectors where membrane technology will make significant strides in the coming years.
The Oil and Gas (O&G) and Petrochemical industries have not been synonymous with “clean tech” in the public’s eye to date. The industry is usually portrayed as being archaic, with significant emphasis on negative stories, such as oil spills in the oceans and air pollution. Very little is expressed in the media about how society has benefited from the modern industrialisation of advanced chemical processes, associated products or the industry’s strive to ‘clean-up’.
According to a recent report from Credence Research published in March 2017 “…the global gas separation membranes market is projected to experience substantial growth over the forecast period of 2016 to 2024 owing to growing industrialization in emerging economies. Technical innovations in water &
Innovation is critical to the long term growth and prosperity of the petrochemical industry. Innovation can come in a variety of areas including new product development, improvements in raw material and feedstock identification and utilization, the use of techniques such as pinch technology to identify ways to improve process efficiencies, increase production yields, and improve energy utilization, and supply chain optimization, among others.
Olefins production is the largest and most important segment of the global petrochemical industry, worth over $150 Billion per year. Many opportunities
At Imtex we often get asked the question, “How will the current oil price impact your company?” and “Are you concerned?” The short answer is initially, yes, but ultimately, no.