Abstract: Under continuous superposition ofmultiple development pressures, the transformationand upgradingof traditional refining industry is imminent. In order to make full use of the value from different molecular and component in crude oil and produce high value products economically and efficiently, the research of component-based refining has become an important direction to helpthe petrochemical industryto upgrade rapidly and move towards molecular refining. By comparing with traditional refining (fraction-based), the important relationship between specific components of crude oil and the target products,the implementation steps and key supporting technologies of the component-based refining were analyzed, and theeffects on increasing utilization ratio of crude oil resources and added value of products, reducing production cost and carbon dioxide emission and developing new materials were studied. In different component-based refining cases, the yield of ethylene and the benefit per ton of crude oil could be increased by 12.7% and 160.12 Yuan/t, respectively,and thecarbon dioxide emission reductionwas about 19.83 kg per ton crude oil. This study provides an important reference for the development and application of separation technology and key refining technology in the future.

Key words: component-based refining, molecular-based refining, transition and upgrade for petrochemical industry, separation technology, chemical products, techno-economics, low-carbon development, new materials