Process economic analysis

Assuming that one of the models is correct, the design calculations can be continued to obtain the process economic analysis. At the same time, the environmental impact can also be investigated. As our selected solvent is an ester, it s MSDS shows low human effect, which may only act as an irritant to skin, eye and respiratory, and do not have any other environmental effect. So, it can be concluded that solvent is suitable for separation of EB from PX by extractive distillation. 

The economics of the arc-coal process is sensitive to the electric power consumed to produce a kilogram of acetylene. Early plant economic assessments indicated that the arc power consumption (SER = kwh/kgC2H2) must be below 13.2. The coal feedcoal quench experiments yielded a 9.0 SER with data that indicated a further reduction to below 6.0 with certain process improvements. In the propane quench experiment, ethylene as well as acetylene is produced. The combined process SER was 6.2 with a C2H2/C2H4 production ratio of 3 to 2. Economic analysis was completed uti1i2ing the achieved acetylene yields, and an acetylene price approximately 35% lower than the price of ethylene was projected. 

The economics of the various methods that are employed to sequence multicomponent columns have been studied. For example, the separation of three-, four-, and five-component mixtures has been considered (44) where the heuristics (rules of thumb) developed by earlier investigators were examined and an economic analysis of various methods of sequencing the columns was made. The study of sequencing of multicomponent columns is part of a broader field, process synthesis, which attempts to formalize and develop strategies for the optimum overall process (45) (see Separation systems synthesis). 

The problem is defined during process development as information becomes available and decisions are made. Initially, the definition is limited, vague, and brief and economic analysis involves a high level of uncertainty. As the project evolves, the definition becomes more complete, more highly specific, and lengthier. At the same time, the economic assessment tends to exhibit less uncertainty. 

A. Chauvel and co-workers. Manual of Economic Analysis of Chemical Processes Feasibility Studies in Eefining and Petrochemical Processes, McGraw-Hid Book Co., Inc., New York, 1980. 

To answer the above-mentioned questions, one can envision so many alternatives they cannot be enumerated. Typically, an engineer charged with the responsibility of answering these questions examines few process options based on experience and corporate preference. Consequently, the designer develops a simulation model, performs an economic analysis and selects the least expensive alternative from the limited number of examined options. This solution is inappropriately designated as the optimum. Normally it is not Indeed, the true optimum may be an order of magnitude less expensive. 

Access to Practice. Publications and patents on the batch mass process are limited. Bishop s book CD contains the most detailed description of the polymerization press and mass-suspension processes for PS and HIPS. Fong (16) presents an economic analysis of the press process based on Bishop s description. Patent references are few for the batch-mass process the 1939 Bakelite patent on transfer of prepoly syrup to chambers or containers is of historical interest (17). 

The purpose of the study was to determine the optimum conditions of operation of pyrolysis equipment by the combined solution of equations relating to the technological and economic analysis of the process. The material considered was poly(methyl methacrylate) one of the most popular types of plastic waste. Articles from this journal can be requested for translation by subscribers to the Rapra produced International Polymer Science and Technology. 

Andrea Manca is Research Fellow at the Centre for Health Economics, University of York. His research interests lie in the investigation of methodological and theoretical issues related to two broad areas the application of modelling techniques to support the decisionmaking process in health care, and the use of analytical methods in the conduction of economic analysis of health care interventions. Andrea s applied work focuses on a number of different technologies in several clinical areas, including mental health. 

Kniel, G.E., Delmarco, K., Petrie, J.G. (1996) Life Cycle Assessment Applied to Process Design Environmental and Economic Analysis and Optimisation of a Nitric Acid Plant. Environment Progress, 15(4), 221-228. 

Calculations of economic profitability can only be predictive in the phase of process development, before a plant is on stream for a long time. Therefore, individual components of costs and market evaluations will bear some uncertainty. This uncertainty is relatively high for pharmaceuticals and agrochemicals. The impact of these uncertainties on the profitability of a process may be quantified by a sensitivity analysis. This analysis provides information about the sensitivity of the process economics to changes in parameters relevant for the profitability (investment costs, price and consumption of raw materials, utility unit costs, product value and demand, etc.), and therefore on the reliability of the result of the economic evaluation. In the early stages of process development, a high sensitivity indicates the areas requiring attention for continued R D work. 

Once the standard error of estimate of the mean forecasted response has been estimated, i.e., the uncertainty in the total production rate, one can compute the probability level, a, for which the minimum total production rate is below some pre-determined value based on a previously conducted economic analysis. Such calculations can be performed as part of the post-processing calculations. 

This value is considerably larger than that calculated in Illustration 8.7 for a nonstoichio-metric feed ratio, thus indicating the potential desirability of using an excess of one reagent when it appears to be a positive power in the rate expression. In any economic analysis of a process, however, the costs of separation and recovery or disposal of the excess reagent must be taken into account. 

Qureshi, N., and Maddox, I. S., Application of Novel Technology to the ABE Fermentation Process An Economic Analysis,"Appl. Biochem. Biotechnol., 34/35 441 (1992)... 

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