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Abstract
This study presents the findings of a feasibility study for the manufacture of acetic acid at a rate
of 100,000 tonnes per year. It is being investigated if the methanol carbonylation method, the
acetaldehyde oxidation route, and the direct oxidation of the n-butane process route are all
technically, environmentally, and financially feasible. An in-depth analysis of the main literature
that is currently accessible is used to conduct the assessment of the project's technical feasibility.
The atom economy, energy use, raw materials and process dangers are the indicators that are
used in the investigation of environmental feasibility. The discounted cash flow rate of return is
utilized in order to evaluate the economically viable alternatives. It has been demonstrated that,
out of the three different ways that have been researched, the Methanol carbonylation pathway is
the most promising technique for obtaining acetic acid.
1
Table of Contents
1. Introduction:................................................................................................................................7
3. Technical feasibility...................................................................................................................18
2
3.3.3 Physical Properties of Raw Materials...........................................................................22
4. Environmental feasibility...........................................................................................................29
4.1 Introduction..........................................................................................................................29
5. Economic Feasibility.................................................................................................................35
3
5.2 ISBL Cost.............................................................................................................................35
5.14 Depreciation.......................................................................................................................40
6. Overall summary.........................................................................................................................8
7. References....................................................................................................................................9
4
List of Figures
5
List of Tables
6
1. Introduction:
1.1 General Information
The annual demand for acetic acid around the globe is approximately 9 million tonnes, making it
a significant commodity that is utilised in the chemical industry. This substance is primarily
employed in the production of a wide variety of organic compounds, acetate esters, organic
solvents, fungicide, medicines, cellulose acetate, which is crucial in the creation of film and
plastic commodities, fragrances, and synthetic fibres (Jones,
2009).
Pungent odor,
Burning taste, and
Blistering qualities that are particularly harmful.
It may be found in trace amounts in the liquids of many different plants and animals, as well as
in rainwater, oilfield brines, and ocean water. It plays an essential role in each and every one of
the cellular energy processes. Vinegar is a solution of acetic acid that is produced by the
fermentation of vegetable and fruit juices. Bacteria and fungi may break down the sugar in any
kind of sap or juice to produce acetic acid (Jones, 2009).
Andreas Libavius, a German alchemist who worked in the 16th century, provided a description
of the ketonic decarboxylation process that led to the creation of acetone from the dry distillation
of lead acetate. Because the presence of water in vinegar has such a significant impact on the
characteristics of acetic acid, scientists have traditionally held the misconception that glacial
7
acetic acid and the acid that may be found in vinegar are two entirely distinct entities (Goldberg,
2002).
CAS no 64-19-7 -
8
Flash point 312.59 K
SOLUBILITY Miscible -
VAPOR PRESSURE mmHg mmHg
However, this esterification reaction may be reversed, and the water present can cause the aspirin
to be hydrolyzed. Therefore, an anhydrous (which literally means "without water") reagent can
result in higher product yields. At a temperature of 800 degrees Celsius, acetic acid may be
dehydrated to produce acetic anhydride (Cheung, 2011).
Alternately, acetic anhydride and a salt can be obtained through the reaction between a salt of
acetic acid and acid chloride such as sodium acetate. This reaction produces acetic anhydride.
9
1.4 Applications of acetic acid:
Acetic acid has a wide variety of applications. Therefore, in addition to just functioning as a food
preservative (vinegar), the acid is utilized in a wide variety of contexts and applications. Among
the most common and significant applications are:
Food Industry
Household
Medicinal Uses
Industrial Use
2. It may also be used as a spice for a variety of foods, such as salads and other dishes.
3. when vinegar is combined with alkaline chemicals like baking soda, a gas is produced that
aids in the rise of baked products.
1. It is employed as an agent to lyse (destroy cells by the action of lysin) red blood cells prior to
the examination of white blood cells.
2. It has been observed that drinking vinegar might bring down high levels of sugar in the blood.
10
4. It is also utilized in the screening process for cervical cancer, as well as in the treatment of
infections.
In addition to these applications, acetic acid is utilized in the production of a variety of other
products, including inks, dyes, and fragrances. Additionally, it is involved in the production of
rubber and plastic goods in several sectors (Briggs, 2009).
11
Figure 2 Acetic acid global supply 2020 [2]
The 2013 demand and supply chart show that Europe can only supply 7% of the 10% demand.
Other continents provide the rest of the need (Chen, 2015).
According to research that was conducted recently, the total amount of virgin acetic acid that is
generated throughout the world is believed to be 5MMTPA (million metric tonnes per year).
Approximately half of this amount is manufactured in the United States. The output in Japan is
now around 0.8 MT, whereas European production is roughly 1 MTA but is on the decline. Each
year, another 1.6 MT are recycled, increasing the total amount available on the global market to
6.55 MTA. BP Chemicals and Celanese are the two companies that manufacture the most virgin
acetic acid globally. Other notable producers are Svensk Etanolkemi, Samsung, Eastman, and
Millennium Chemicals, as well as Sterling Chemicals and Eastman. China has 45% of the
world's total capacity to produce acetic acid (virgin acid), followed by the rest of Asia (22%), the
12
United States (19%), and western Europe (7%). These areas account for 90 percent of the total
capacity in the planet (Chen, 2015).
13
Figure 4 Applications and commercial approaches for the production of acetic acid [4]
14
Process), as well as submerged fermentation. Acetic acid is an essential component of a great
deal of different dietary items. The requirement for huge quantities of the vinegar makes
industrial fermentation systems necessary. These systems must be able to produce quantities that
can be accurately controlled. The commercial manufacturing of acetic acid has seen a significant
improvement thanks to the development of a great number of technical instruments. In most
cases, these enhancements increase the rate at which ethanol is converted into acetic acid in the
influence of acetic acid bacteria (Cheung, 2011).
Second, the barrel receives an addition of new vinegar comprising around 22–27% of the total
volume. The fresh vinegar is added for the purpose of acidifying the liquid to a level that is
optimal for the development of the bacteria that produce vinegar. Vinegar germs fall into the
liquid from the surrounding air and begin to build a coating of gelatinous slime on the surface of
the vinegar. At temperatures ranging from 75°F to 80°F, the liquid is allowed to ferment for
15
approximately two to three months. After this period of time has passed, a quarter to a third of
the vinegar can be removed for the sake of bottling, and an equal amount of an alcoholic
beverage can be added. This process yields 75-85% of the theoretical amount of product.
Vinegar must have fresh supplies of alcohol given to it on a regular basis; otherwise, the acetic
acid may start to deteriorate (Garcia, 2013).
While this occurs, the re-circulated fermentation liquid slowly drips down over the packaging
toward the bottom of the vessel. At the same time, air is drawn in from the bottom of the vessel
and moved upward via the inlets. The amount of oxygen present in the environment is directly
related to the rate of acetification. If there is a restricted supply of air, then there will be a
16
reduced amount of acetic acid produced, and the temperature of the generator will be lower.
However, if there is an excessive supply of air, then there will be an excess amount of
production, and the temperature will be greater It is necessary to keep a constant eye on the
generators in order to detect any signs of excessive oxidation or temperatures that are not
appropriate. It takes roughly three to seven days to complete the operation. After removing two
thirds of the finished vinegar product from the tank, new mash is added to the mixture. The
replacement mash is added to the tank in a gradual and steady stream until the working level for
acetifying the solution as well as the starting temperature of 22 degrees Celsius are both attained.
The yield of acetic acid is 95%.
The range of temperatures between 30 and 35 degrees Celsius is ideal for the operation of a
generator. When oxidized to acetic acid, one gallon of 190 proof alcohol produces around 25,000
to 30,000 Btu of heat. Acetobacter thrives best at a temperature of around 35 degrees Celsius. It
is vital to have a mechanism that controls the temperature in order to avoid overheating the
bacteria, which would lead to their death (Michel, 1992).
17
At the conclusion of each cycle, a predetermined quantity of acetic acid is discarded and the
space it occupied is replenished with mash. 86 degrees Fahrenheit or 30 degrees Celsius was the
optimal temperature for the commercial manufacturing of 11 to 12% vinegar. Above 86 degrees
Fahrenheit, the bacteria are in risk of being damaged. In addition to this, the condition of the
bacteria influences the amount of acetic acid that is generated (Nakano, 2016). The yield of
acetic acid is 98%
3. Technical feasibility
3.1 Technical brief
The following are some of the fixed needs and parameters for the project:
The goal of this project is to build a new plant capable of producing 100,000 tonnes per year of
technical grade acetic acid with a purity level of 77% when mixed with water, with the plant
designed to be operational for 8000 hours per year.
• Any big pieces of equipment you buy should have their capacity increased by 120% to make
room for future growth.
• These prices are based on January 2022, and they will rise every year on January 1st, according
to the UK Consumer Price Index.
Starting in June 2022, all economic information must be given in terms of pounds sterling
(UK£), and this must be done every month.
The internal rate of return on investment (IRR) should be more than 20%, taking into account the
product's anticipated lifespan of 20 years.
18
•The design adheres to all HSE and environmental criteria as well as design rules, and even
exceeds them.
• The plant's ability to function autonomously using its own automation and to provide adequate
performance data for process optimization.
6.5
362 days × =336.14 days
7
At this point, it doesn't matter much what the exact plan is, but it's possible that the half day
every week will be used on a different schedule, like once every two weeks.
19
3.3 Methanol carbonylation route
The methanol carbonylation pathway produces 75% of the world's acetic acid. When Rhodium
catalyst was utilized as an active catalyst with iodide of metals like lithium, a method known as
the Monsanto process was developed for producing acetic acid by carbonylation of methanol.
The procedure was carried out at a pressure of 50–60 bar and a temperature ranging from 150–
200 degrees Celsius, which led to a high purity of 98.9% based on the supply of methanol.
However, B.P. Chemicals developed a method known as Cativa, which involved the utilization
of an iridium catalyst in conjunction with hydrogen iodide as the system's active catalyst.
As early as 1925, Henry Drefyus, working for British Celanese, built a pilot unit for the
methanol carbonylation process. However, commercialization of these approaches was hampered
since there were not enough materials that were both practicable and capable of containing the
corrosive reaction mixture at the high pressures required (at least 200 atm). In 1963, the German
chemical firm BASF was responsible for the development of the first commercial methanol
carbonylation method. This process made use of a cobalt catalyst. The year 1968 saw the
discovery of a rhodium-based catalyst, which had the ability to function well at lower pressures
while producing nearly no byproducts (Navarro, 2013).
• The procedure may now be carried out at a temperature and pressure that are far lower than
before.
20
• Iridium is more affordable than rhodium, which helps to bring down overall production costs to
a significant degree. Using a pressure of 30–40 bar and a temperature of 150–200 degrees
Celsius, the Cativa Process achieves a high selectivity of 99% (Cheung, 2011). The reactions are:
Major reaction:
CH3OH + CO → CH3COOH
Other Reactions:
CH3OH + CO → C2H5COOH
Iodomethane acts as an intermediary in the process, which takes place over the course of three
stages. For the carbonylation process to take place, you will need a catalyst, which is often a
metal complex (step 2).
CH3I + CO → CH3COI
21
Figure 10 the catalytic cycle for the carbonylation of methanol using iridium as the catalyst [10]
Compound ∆ f H ° ( kJ mol−1 )
Methanol -238.42
Carbon monoxide -110.5
Acetic acid -484.9
Formic Acid -431.65
Formaldehyde -109.15
Using Hess’s Law (Equation 8) and the values from Table 6, it is useful to calculate the heat of reaction
∆ rx H ° .
∆ rx H °= ∑ ∆f H °− ∑ ∆f H °
products reactants
22
3.3.3 Physio-chemical Properties of Raw Materials
• Cativa's selectivity is 99%, compared to 90% for acetaldehyde oxidation and other methods.
• The cost of the feedstock, which is methanol, is significantly lower than the cost of feedstock
used in other processes.
23
Figure 11 Process flow diagram of Methanol carbonylation route (Cheung, 2011)
The reaction conditions are 150 degrees Celsius at 50-60 bar but when oxygen is employed, they
adequate to retain the acetaldehyde in liquid form. The reaction mixture is removed from the
very top of the distillation tower and then continually diluted in as many as three different
distillation columns. At this point, crude acid is poured into the uppermost part of the distillation
column. Other volatile components are removed through the column's uppermost opening, and a
residue comprising manganese acetate is extracted from the column's lowermost opening. In the
second column, the fore-run is removed while it is still boiling at a low temperature, and between
24
99.6 and 99.8 percent pure acetic acid is removed immediately above the reboiler. The method
may be explained in more detail using the following format:
Oxidation is often carried out using oxygen in the Hoechst Process. This process runs
continuously at temperatures between 50 and 70 degrees Celsius in stainless steel oxidation
towers known as bubble columns. Acetic acid is used as the solvent. Temperatures of at least 50
degrees Celsius are required in order to produce a satisfactory level of peroxide breakdown and,
consequently, a satisfactory level of oxidation rate. The heat generated by the reaction is
dissipated by passing the mixture that is being oxidized across a cooling system. Formic acid,
carbon dioxide, and trace quantities of carbon monoxide and water are the products of the
oxidative breakdown of acetic acid when the temperature is carefully controlled. The selectivity
of acetic acid is between 95 and 97%. Distillation is used to separate the byproducts, which
include carbon dioxide (CO2), formic acid, methyl acetate, methanol, and methyl formate.
Formaldehyde is also produced, but it is separated from the other byproducts (Saichana, 2017).
25
3.4.1 Enthalpy of Formation of Acetaldehyde oxidation route
Table 3 Components Enthalpy of formation at 298.1K [12]
Compound ∆ f H ° ( kJ mol−1 )
Acetaldehyde -191.70
Oxygen 0
Acetic acid -484.9
Formic Acid -431.65
Formaldehyde -109.15
Ethyl Acetate -480
Hess's Law and the information from Table 6 can help you figure out the heat of reaction, which is
written as ∆ rx H ° .
∆ rx H °= ∑ ∆f H °− ∑ ∆f H °
products reactants
26
3.4.2 Physio-chemical Properties of Raw Materials
27
Figure 13 Oxidation of hydrocarbons to produce acetic acid [5]
The oxidation of acetaldehyde, which results in the generation of acetic acid, has been the
subject of a significant amount of patent research. Since 1912, it has been used for commercial
purposes in Germany, and since 1921, it has been used in the United Kingdom. Even in many
different processes, acetaldehyde serves primarily as an intermediary step in the manufacture of
acetic acid. The following are the four most prevalent and important methods that lead to
acetaldehyde (Togeas, 2005):
ii) The partial oxidation of ethyl alcohol or the dehydrogenation of ethyl alcohol in the vapor
phase.
iv) The process in which saturated hydrocarbons are oxidized at high temperatures.
Compound ∆ f H ° ( kJ mol−1 )
Butane -125.82
Oxygen 0
Acetic acid -484.9
Formic Acid -431.65
Propionic Acid -454.32
Hess's Law and the information from Table 6 can help you figure out the heat of reaction, which is
written as ∆ rx H ° .
∆ rx H °= ∑ ∆f H °− ∑ ∆f H °
products reactants
28
[ (−484.9 ) + (−431.65 )+ (−454.32 ) ]− [(−125.82 )+ ( 0 ) ]=−1245 kJ mol−1
Figure 14 Process flow diagram via the direct oxidation of n-butane rout (Cheung, 2011)
29
3.6 Location of the plant
Locations for the plants have been proposed based on the requirements of the various operations.
In Sheffield, where demand for acetic acid is expected to rise and supplies of methanol and CO
are abundant. Sheffield is well-known all throughout the world for being an important center of
manufacturing. The city's prominence as an industrial hub in England throughout the 1800s,
1900s, and the early part of the 20th century may be attributed to the success of its
manufacturing sector.
30
Methanol Methanol Acetic Acid 423-473 30-50 7
carbonylation CO Formic Acid
route Formaldehyde
Acetaldehyde Acetaldehyde Acetic Acid 423 55-60 6
oxidation O2 Formic Acid
Formaldehyde
Ethyl Acetate
The direct Butane Acetic Acid 423-503 55-60 6
oxidation of n- O2 Formic Acid
butane Propionic Acid
Methanol carbonylation approach advantages from 100% acetic acid selectivity, near ambient
working pressure, easy liquid phase reaction, lowest operating temperature, and extensive
industry knowledge; much of the R&D has already been done.
The oxidation of acetaldehyde is beneficial because of its straightforward 2:1 chemistry and
separation strategy. It is the sole technique that offers near-complete conversion without
producing any significant by-products, making it unique. However, in order to make the reaction
possible, you will need extremely high pressures, temperatures, along with a certain type of
catalyst. Additionally, you will need an ethylene pipeline to feed the raw ingredients.
The direct oxidation of n-butane has the benefit of creating a valuable by-product while only
requiring butane as a feed stock. This is a significant advantage. It is also the only one of the
three processes that does not make use of nutrients that are acidic. The high working pressure
and temperature, in addition to the more complicated separation scheme, are the sources of the
problems. If the reaction isn't carefully controlled, the procedure could make a lot of different
things in addition to what was intended.
31
4. Environmental feasibility
4.1 Introduction
In order to provide a fair comparison between the processes with regard to the local and wider
environmental impact, the environmental considerations will be made using the rules and codes
that are now in effect in the United Kingdom and the overriding EU legislation. This will be
done without enabling the place of operation to exaggerate or hide a problem with one process
versus another. The Health and Safety Executive is the regulatory organisation responsible for
safety in the United Kingdom (HSE). To demonstrate conformity with the EU Seveso III
directive, the Health and Safety Executive (HSE) has made the control of major accident hazards
rules 2015 (COMAH) mandatory (Health and Safety Executive, 2015). These laws give specific
instructions and tips to places that work with a certain number of dangerous substances (Unger,
1996).
32
H402 Harmful to aquatic life
Even when the temperature is at room standard, any vessel or piece of equipment that contains
acetic acid is required to be constructed with the appropriate considerations for a DSEAR zone 0
region in the headspace. The region immediately around any connections, port holes, or pressure
relief valves leading to these locations will be considered to be in Zone 1 of the categorization
system. The price of plant life is increased by low value DSEAR zoning.
33
Due to the fact that acetic acid is volatile at room temperature, it is reasonable to anticipate that
vapor discharges will occur from storage containers both during the filling process and as a result
of the fluctuating temperatures that occur during the day.
When combined with air, the vapor of acetic acid can produce explosive combinations. Acetic
acid with oxidizers including chromic acid, ammonium nitrate, sodium peroxide, nitric acid, and
phosphorus trichloride can react violently, causing fires or explosions (Jones, 2009).
100 ( 60.052+60.052
46.03+30.031 )
=44.12 %
34
The estimate is based on the supposition that acetic acid has a selectivity of one hundred percent,
which has been demonstrated to be a valid assumption for the esterification process. It does not
take into account any issues that may arise with separation or equilibrium.
35
One of the primary motivating factors is the potential maximum atom economy that may be
achieved with the Acetaldehyde oxidation route. Due to the creation of undesired chemicals,
namely diethyl ether and ethanol, which need to be removed from the product, the real atom
economy is somewhere in the range of 96 to 98%.
• Propionic Acid
100 ( 60.052+60.052
46.03+74.08 )
=33.33 %
Because acetaldehyde reacts with itself, side products will be produced, which will result in the
overall atom economy of the process being somewhat lower than it would have been otherwise.
The process parameters can be controlled to a large extent in order to reduce this (Cheung,
2011).
36
4.5.3 Catalyst ecology
The copper chromate type was used for the catalysts that were mentioned in the research. The
described industrial method included the employment of a second reactor equipped with a
ruthenium-on-carbon catalyst in order to selectively hydrogenate molecules that, under normal
circumstances, would render the catalysts inactive upon recirculation. On the material safety data
sheet for copper chromate, there are various statements that could be cause for worry. Because it
is an oxidizing agent, it will make flames worse. It also causes damage to the respiratory system
and has hazard statements for both acute and chronic toxicity in aquatic environments. Even
when this catalyst is put to use in a non-homogeneous manner, there is still the possibility that it
may be harmful to the natural environment in the area if it were to be discharged into the water
effluent (Cheung, 2011).
37
5. Economic Feasibility
5.1 Fixed Capital Cost
The first step in the cost analysis is the determination of fixed capital costs of the plant based on
the three selected processes. The detailed breakdown of fixed capital investment required for
each project is:
Historical plant data are available for acetic acid production through carbonylation route.
However, the range for correlation is not applicable to our plant throughput.
In the absence of historical data correlation provided by Bridgewater & Mumford, and by Timms
can be used for ISBL investment. Since the plant primarily involves liquid phase so the relation
provided by Bridgewater & Mumford is used for ISBL investment of all three routes:
( )
0.665
Q −0.17
× exp ( 2.58 ×10 )
−3 −7 −0.22 −0.064
C=1.44 × 10 N ×T max × Pmax
s
Where
C = Plant Cost in dollars on U.S Gulf Cost Basis for the year 2010
s = Reactor Conversion
38
Table 9 Three processes and their costs
The location factor for the UK for the year 2022 is calculated using the equation:
US Dollar∈2003
=0.61
Pound Sterling 2003
US Dollar∈2022
=0.87
Pound Sterling 2022
L F 2022 = 1.02 × 0.87/0.61
= 1.45
The ISBL cost in 2022, is calculated using the plant cost indexes. The plant cost index for year
2010 was 532.9 while for 2022 it is 708.
39
5.5 OSBL Cost
The outside battery limit costs are estimated to be 30% of ISBL cost in each case. These costs
will cover up for the building of electrical substations, cooling towers, labs, offices etc. If not a
lot of information is available, a rule of thumb is to use 20 to 40% of the ISBL costs as an
estimate for OSBL. However, once detailed information such as the exact site and plant layout
are known, OSBL costs can be calculated in a manner similar to the ISBL costs. This is why
30% is used as an average of the percentage range.
Direct Oxidation of n-
Process Methanol Carbonylation Acetaldehyde Oxidation
Butane
40
5.8 Operational Costs
The operational costs of the plant are divided into fixed and variable costs. The fixed costs
include expenses such as labor pays, maintenance, land rents etc. and remain constant regardless
of production rate. The variable costs include the expenses due to raw material cost and utilities
consumption. The detailed calculations are:
The utilities for each process are estimated to be 10% of raw materials cost. The detailed
variable cost calculation is tabulated below:
41
Table 11 Variable Cost of Production at Maximum Capacity
1
https://www.macrotrends.net/2549/pound-dollar-exchange-rate-historical-chart
2
https://www.forbes.com/advisor/money-transfer/currency-converter/gbp-usd/
3
Methanex
4
NREL
5
Chem Analyst
42
Years Costs Revenues
C Fn
NPV =∑
( 1+ i )n
Where CF is the cash flow, and n represents the project year. The interest rate for all three
projects is set at 12% whereas the tax rate is 25%.
The internal rate of return (IRR) is the interest rate for which the NPV at the end of project will
be zero. If the IRR of the project is greater than the interest rates the project will be profitable
and vice versa.
5.14 Depreciation
Depreciation charges are the most common type of tax allowance used by governments as an
incentive for investment. Depreciation is a noncash charge reported as an expense, which
reduces income for taxation purposes. Depreciation charges can be thought of as an allowance
for the “wear and tear, deterioration or obsolescence of the property” as a result of its use. For all
three projects straight line depreciation method will be used. The annual depreciation charge is
calculated as:
Cd
D i=
n
43
5.15 Taxable Income
The amount of tax that must be paid in a given year is calculated by multiplying the taxable
income by the tax rate. The taxable income is given by:
The most common type of tax allowance is depreciation which is used in the cash flow analysis
for this project. The taxes are paid based on previous year income.
44
5.16 Methanol Carbonylation
The cash flow analysis for methanol carbonylation process is tabulated below. The fixed capital is depreciated for a period of 20 years giving a
depreciation allowance of 3.42M. The construction of the plant is carried out in two years. In the 3rd year of the project, the plant becomes
operational and is operated at 30% of design capacity. The taxes are paid from the 4th year of the project. From the table it can be seen that the
NPV for the project becomes positive in the 4th year indicating that the project will provide a good return. The NPV of project at the end of plant
life is £ 386.34M. The Internal Rate of Return for the project is calculated to be 65.64%. Both the indicators (NPV and IRR) indicate that the
project will be a profitable one.
2025 £ 14.16 £ 43.83 £ 17.91 £ 25.92 £ 3.42 £ 22.50 £- £ 11.75 £ 9.37 -£ 47.76
2026 £- £ 146.09 £ 48.81 £ 97.28 £ 3.42 £ 93.86 £ 23.47 £ 73.81 £ 52.54 £ 4.78
2027 £- £ 146.09 £ 48.81 £ 97.28 £ 3.42 £ 93.86 £ 23.47 £ 73.81 £ 46.91 £ 51.69
2028 £- £ 146.09 £ 48.81 £ 97.28 £ 3.42 £ 93.86 £ 23.47 £ 73.81 £ 41.88 £ 93.57
2029 £- £ 146.09 £ 48.81 £ 97.28 £ 3.42 £ 93.86 £ 23.47 £ 73.81 £ 37.40 £ 130.97
2030 £- £ 146.09 £ 48.81 £ 97.28 £ 3.42 £ 93.86 £ 23.47 £ 73.81 £ 33.39 £ 164.36
2031 £- £ 146.09 £ 48.81 £ 97.28 £ 3.42 £ 93.86 £ 23.47 £ 73.81 £ 29.81 £ 194.17
2032 £- £ 146.09 £ 48.81 £ 97.28 £ 3.42 £ 93.86 £ 23.47 £ 73.81 £ 26.62 £ 220.79
2033 £- £ 146.09 £ 48.81 £ 97.28 £ 3.42 £ 93.86 £ 23.47 £ 73.81 £ 23.77 £ 244.55
2034 £- £ 146.09 £ 48.81 £ 97.28 £ 3.42 £ 93.86 £ 23.47 £ 73.81 £ 21.22 £ 265.77
2035 £- £ 146.09 £ 48.81 £ 97.28 £ 3.42 £ 93.86 £ 23.47 £ 73.81 £ 18.95 £ 284.72
2036 £- £ 146.09 £ 48.81 £ 97.28 £ 3.42 £ 93.86 £ 23.47 £ 73.81 £ 16.92 £ 301.63
2037 £- £ 146.09 £ 48.81 £ 97.28 £ 3.42 £ 93.86 £ 23.47 £ 73.81 £ 15.10 £ 316.74
2038 £- £ 146.09 £ 48.81 £ 97.28 £ 3.42 £ 93.86 £ 23.47 £ 73.81 £ 13.49 £ 330.22
2039 £- £ 146.09 £ 48.81 £ 97.28 £ 3.42 £ 93.86 £ 23.47 £ 73.81 £ 12.04 £ 342.26
2040 £- £ 146.09 £ 48.81 £ 97.28 £ 3.42 £ 93.86 £ 23.47 £ 73.81 £ 10.75 £ 353.01
2041 £- £ 146.09 £ 48.81 £ 97.28 £ 3.42 £ 93.86 £ 23.47 £ 73.81 £ 9.60 £ 362.61
2042 £- £ 146.09 £ 48.81 £ 97.28 £ 3.42 £ 93.86 £ 23.47 £ 73.81 £ 8.57 £ 371.18
2043 £- £ 146.09 £ 48.81 £ 97.28 £ 3.42 £ 93.86 £ 23.47 £ 73.81 £ 7.65 £ 378.83
2044 -£ 7.33 £ 146.09 £ 48.81 £ 97.28 £ 3.42 £ 93.86 £ 23.47 £ 81.14 £ 7.51 £ 386.34
1
5.17 Acetylene Oxidation
The cash flow analysis for acetylene oxidation process is tabulated below. Straight line depreciation method is used for the calculation of fixed
capital depreciation. For the 3rd year of the project in which the plant is run at reduced capacity, the operating costs exceed the revenues,
yielding negative taxable income. From year 4 (2026) onwards the project starts to generate profit and taxes are paid from 5th year (2027)
onwards. The NPV for the project at the end of plant life is -£ 48.17 M. The internal rate of return for this method is calculated to be 3.54%.
Both the NPV and IRR indicate that the project is not good for investment.
2025 £ 24.12 £ 43.83 £ 44.95 -£ 1.12 £ 4.32 -£ 5.44 £- -£ 25.24 -£ 20.12 -£ 92.31
2027 £- £ 146.09 £ 137.98 £ 8.10 £ 4.32 £ 3.79 £ 0.95 £ 7.16 £ 4.55 -£ 81.99
2028 £- £ 146.09 £ 137.98 £ 8.10 £ 4.32 £ 3.79 £ 0.95 £ 7.16 £ 4.06 -£ 77.93
2029 £- £ 146.09 £ 137.98 £ 8.10 £ 4.32 £ 3.79 £ 0.95 £ 7.16 £ 3.63 -£ 74.30
2030 £- £ 146.09 £ 137.98 £ 8.10 £ 4.32 £ 3.79 £ 0.95 £ 7.16 £ 3.24 -£ 71.07
2
2031 £- £ 146.09 £ 137.98 £ 8.10 £ 4.32 £ 3.79 £ 0.95 £ 7.16 £ 2.89 -£ 68.18
2032 £- £ 146.09 £ 137.98 £ 8.10 £ 4.32 £ 3.79 £ 0.95 £ 7.16 £ 2.58 -£ 65.59
2033 £- £ 146.09 £ 137.98 £ 8.10 £ 4.32 £ 3.79 £ 0.95 £ 7.16 £ 2.30 -£ 63.29
2034 £- £ 146.09 £ 137.98 £ 8.10 £ 4.32 £ 3.79 £ 0.95 £ 7.16 £ 2.06 -£ 61.23
2035 £- £ 146.09 £ 137.98 £ 8.10 £ 4.32 £ 3.79 £ 0.95 £ 7.16 £ 1.84 -£ 59.39
2036 £- £ 146.09 £ 137.98 £ 8.10 £ 4.32 £ 3.79 £ 0.95 £ 7.16 £ 1.64 -£ 57.75
2037 £- £ 146.09 £ 137.98 £ 8.10 £ 4.32 £ 3.79 £ 0.95 £ 7.16 £ 1.46 -£ 56.29
2038 £- £ 146.09 £ 137.98 £ 8.10 £ 4.32 £ 3.79 £ 0.95 £ 7.16 £ 1.31 -£ 54.98
2039 £- £ 146.09 £ 137.98 £ 8.10 £ 4.32 £ 3.79 £ 0.95 £ 7.16 £ 1.17 -£ 53.81
2040 £- £ 146.09 £ 137.98 £ 8.10 £ 4.32 £ 3.79 £ 0.95 £ 7.16 £ 1.04 -£ 52.77
2041 £- £ 146.09 £ 137.98 £ 8.10 £ 4.32 £ 3.79 £ 0.95 £ 7.16 £ 0.93 -£ 51.84
2042 £- £ 146.09 £ 137.98 £ 8.10 £ 4.32 £ 3.79 £ 0.95 £ 7.16 £ 0.83 -£ 51.01
2043 £- £ 146.09 £ 137.98 £ 8.10 £ 4.32 £ 3.79 £ 0.95 £ 7.16 £ 0.74 -£ 50.27
2044 -£ 15.48 £ 146.09 £ 137.98 £ 8.10 £ 4.32 £ 3.79 £ 0.95 £ 22.64 £ 2.10 -£ 48.17
3
5.18 Butane Oxidation
The cash flow analysis for butane oxidation process is tabulated below. The fixed capital is depreciated for a period of 20 years giving a
depreciation allowance of £ 6.08 M. The construction of the plant is carried out in two years. In the 3rd year of the project, the plant becomes
operational and is operated at 30% of design capacity. The taxes are paid from the 4th year of the project. From the table it can be seen that the
NPV for the project becomes positive in the 9th year (2031) indicating that the project will provide a good return. The NPV of the project at the
end of plant life is £ 110.43M. The Internal Rate of Return for the project is calculated to be 23.73%. Both the indicators (NPV and IRR)
indicate that the project will be a profitable one. It is also worth mentioning that the mass of byproducts formed in the butane oxidation process
is much greater than the other two processes. Since no data about their quantities was available at the time of this analysis, they were ignored. By
including the revenue generated by those byproducts, both the NPV and IRR will increase even further.
2025 £ 16.68 £ 43.83 £ 34.29 £ 9.54 £ 6.08 £ 3.45 £- -£ 7.14 -£ 5.69 -£ 107.37
2026 £- £ 146.09 £ 98.75 £ 47.33 £ 6.08 £ 41.25 £ 10.31 £ 37.02 £ 26.35 -£ 81.02
2027 £- £ 146.09 £ 98.75 £ 47.33 £ 6.08 £ 41.25 £ 10.31 £ 37.02 £ 23.53 -£ 57.49
2028 £- £ 146.09 £ 98.75 £ 47.33 £ 6.08 £ 41.25 £ 10.31 £ 37.02 £ 21.01 -£ 36.49
4
2029 £- £ 146.09 £ 98.75 £ 47.33 £ 6.08 £ 41.25 £ 10.31 £ 37.02 £ 18.76 -£ 17.73
2030 £- £ 146.09 £ 98.75 £ 47.33 £ 6.08 £ 41.25 £ 10.31 £ 37.02 £ 16.75 -£ 0.98
2031 £- £ 146.09 £ 98.75 £ 47.33 £ 6.08 £ 41.25 £ 10.31 £ 37.02 £ 14.95 £ 13.97
2032 £- £ 146.09 £ 98.75 £ 47.33 £ 6.08 £ 41.25 £ 10.31 £ 37.02 £ 13.35 £ 27.32
2033 £- £ 146.09 £ 98.75 £ 47.33 £ 6.08 £ 41.25 £ 10.31 £ 37.02 £ 11.92 £ 39.24
2034 £- £ 146.09 £ 98.75 £ 47.33 £ 6.08 £ 41.25 £ 10.31 £ 37.02 £ 10.64 £ 49.88
2035 £- £ 146.09 £ 98.75 £ 47.33 £ 6.08 £ 41.25 £ 10.31 £ 37.02 £ 9.50 £ 59.38
2036 £- £ 146.09 £ 98.75 £ 47.33 £ 6.08 £ 41.25 £ 10.31 £ 37.02 £ 8.48 £ 67.87
2037 £- £ 146.09 £ 98.75 £ 47.33 £ 6.08 £ 41.25 £ 10.31 £ 37.02 £ 7.58 £ 75.44
2038 £- £ 146.09 £ 98.75 £ 47.33 £ 6.08 £ 41.25 £ 10.31 £ 37.02 £ 6.76 £ 82.21
2039 £- £ 146.09 £ 98.75 £ 47.33 £ 6.08 £ 41.25 £ 10.31 £ 37.02 £ 6.04 £ 88.25
2040 £- £ 146.09 £ 98.75 £ 47.33 £ 6.08 £ 41.25 £ 10.31 £ 37.02 £ 5.39 £ 93.64
2041 £- £ 146.09 £ 98.75 £ 47.33 £ 6.08 £ 41.25 £ 10.31 £ 37.02 £ 4.81 £ 98.45
2042 £- £ 146.09 £ 98.75 £ 47.33 £ 6.08 £ 41.25 £ 10.31 £ 37.02 £ 4.30 £ 102.75
2043 £- £ 146.09 £ 98.75 £ 47.33 £ 6.08 £ 41.25 £ 10.31 £ 37.02 £ 3.84 £ 106.59
5
2044 -£ 4.51 £ 146.09 £ 98.75 £ 47.33 £ 6.08 £ 41.25 £ 10.31 £ 41.53 £ 3.84 £ 110.43
£500
Cas h Flo w Analys is
Methanol Carbonylation
£400
Acetylene Oxidation
Net Present Value (million £)
Butane Oxidation
£300
£200
£100
£-
-£100
-£200
2023 2025 2027 2029 2031 2033 2035 2037 2039 2041 2043 2045
Project Year
6
The Internal Rate of Return for the three processes is graphically shown below along with the Interest Rate chosen for cash flow analysis. Here,
again the IRR shows that methanol carbonylation and butane oxidation routes are good for investment, whereas the acetylene process won’t be
feasible economically
60%
50%
40%
30%
20%
10%
0%
Methanol Carbonylation Acetylene Oxidation Butane Oxidation Interest Rate
7
6. Overall summary
Table 9 has been produced using the scores from each section and multiplying them together
with a total 300.
Acetaldehyde 6 5 2 130
oxidation
The methanol carbonylation approach emerges as the clear winner when compared to the others.
The simplicity of the methanol carbonylation approach in both its architecture and its reactions
has been shown to be advantageous throughout the study. Because there is a lot of information
accessible regarding the acetic acid by methanol carbonylation method, which is knowledge that
is not as easily accessed as the acetaldehyde oxidation and n butane route, the methanol
carbonylation route is the one that is suggested for use in this feasibility study.
8
7. References
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10