Shell And Tube Heat Exchanger Cost Estimation

As promised in my earlier blog entry "Cost Estimation Of Fixed Roof (Cone) Carbon Steel Storage Tanks", today's blog entry relates to cost estimation of S&T heat exchangers. The equations are empirical and the reference is the same i.e.:

"Estimate Costs of Heat Exchangers and Storage Tanks via Correlations" by Armando B. Corripio, Katherine S. Chrien, and Lawrence B. Evans, Chemical Engineering magazine January 25, 1982.

There is a bunch of equations and it took some time to program it in excel but ultimately it was done.

Let us get down to the equations:

Base Cost for CS Floating-Head, 700 kPag (100 psig) exchanger

SI Units

C_B = EXP(8.202 + 0.01506*lnA + 0.06811*(lnA)²)

where:

C_B = Base Cost of the HE, USD

A = Heat Transfer Area in m²

Lower Limit: 14 m²; Upper Limit: 1100 m²

Exchanger-type cost factor, F_D

Fixed Head:

F_D = EXP(-0.9003 + 0.0906*lnA)

Kettle Reboiler:

F_D = 1.35

U-Tube:

F_D = EXP(-0.7844 + 0.0830*lnA)

where:

F_D = Exchanger-type cost factor

Design-pressure cost factor, F_P

700-2100 kPag:

F_P = 0.8955 + 0.04981*lnA

2100-4200 kPag:

F_P = 1.2002 + 0.07140*lnA

4200-6200 kPag:

F_P = 1.4272 + 0.12088*lnA

where:

F_P = Design-pressure cost factor

Material-of-Construction Cost Factor, F_M

SS316:

F_M =1.4144 + 0.23296*lnA

SS304:

F_M =1.1991 + 0.15984*lnA

SS347:

F_M =1.1388 + 0.22186*lnA

Nickel 200:

F_M =2.9553 + 0.60859*lnA

Monel 400:

F_M =2.3296 + 0.43377*lnA

Inconel 600:

F_M =2.4103 + 0.50764*lnA

Incoloy 825:

F_M =2.3665 + 0.49706*lnA

Titanium:

F_M =2.5617 + 0.42913*lnA

Hastelloy:

F_M =3.7614 + 1.51774*lnA

where:

F_M = Material-of-construction cost factor

Heat-Exchanger Cost , C_E

C_E = C_B*F_B*F_D*F_M

where:

C_E = Heat Exchanger Cost, USD

USC Units

C_B = EXP(8.551 - 0.30863*lnA + 0.06811*(lnA)²)

where:

C_B = Base Cost of the HE, USD

A = Heat Transfer Area in ft²

Lower Limit: 150 ft²; Upper Limit: 12000 ft²

Exchanger-type cost factor, F_D

Fixed Head:

F_D = EXP(-1.1156 + 0.0906*lnA)

Kettle Reboiler:

F_D = 1.35

U-Tube:

F_D = EXP(-0.9816 + 0.0830*lnA)

where:

F_D = Exchanger-type cost factor

Design-pressure cost factor, F_P

100-300 psig:

F_P = 0.7771 + 0.04981*lnA

300-600 psig:

F_P = 1.0305 + 0.07140*lnA

600-900 psig:

F_P = 1.14 + 0.12088*lnA

where:

F_P = Design-pressure cost factor

Material-of-Construction Cost Factor, F_M

SS316:

F_M =0.8608 + 0.23296*lnA

SS304:

F_M =0.8193 + 0.15984*lnA

SS347:

F_M =0.6116 + 0.22186*lnA

Nickel 200:

F_M =1.5092 + 0.60859*lnA

Monel 400:

F_M =1.2989 + 0.43377*lnA

Inconel 600:

F_M =1.2040 + 0.50764*lnA

Incoloy 825:

F_M =1.1854 + 0.49706*lnA

Titanium:

F_M =1.5420 + 0.42913*lnA

Hastelloy:

F_M =0.1549 + 1.51774*lnA

where:

F_M = Material-of-construction cost factor

Heat-Exchanger Cost , C_E

C_E = C_B*F_B*F_D*F_M

where:

C_E = Heat Exchanger Cost, USD

Updated Heat Exchanger Cost

C_E(updated) = (CI_{(calculation yr)} / CI_{(base yr)}) * CE

where:

CI_{(calculation yr)} = cost Index for the calculation year &

CI_{(base yr)} = cost index for the base year

Notes:

1. As an example, if you are trying to calculate the cost of the exchanger for the year 2010, the most probable updated cost would be based on a ratio of the cost index for the year 2010 to the cost index for a base year of 2005. It is not recommended to use a base cost index more than 5 years older than the cost index for the calculated year.

2. The cost index ratio is subjective in nature and readers are exercised caution in determining the "Cost Index Ratio" for calculating the updated equipment cost.

Readers and Members of "Cheresources", this is it for today's blog entry. Would welcome comments from all of you on the subject matter.

Regards,
Ankur.