The Chemistry Bench in Ark does the same crafting as a Mortar & Pestle but with some major differences. First of all it requires power and fuel. Secondly it produces items that the Mortar & Pestle cannot produce. Thirdly, it is more efficient, but produces in slightly larger batches. And fourthly, it is a lot faster. It is also a rather expensive item that must be crafted in the Fabricator.
The only real consideration with the placement of the Chemistry Bench is power. You need to have it connected to power or it will not run. So you either need to place it near power or you will need to run power to it.
Once you have the power hooked up you're half way there. You also need to add Gasoline to it and turn it on. Now it's ready to roll. The recipes require slightly more ingredients to craft, but they prouduce higher quantities. Not only that, but when you do the math you actually get a good deal more final produce for the resources used. This thing is both time and resource friendly as it does craft very quickly.
One thing to watch out for is to turn it off when you are done using it. If you turn it on and walk away it will keep running and using Gasoline even if it is not producing anything. Remember if it can be done in the Mortar & Pestle it can be done faster and more efficiently in the Chemistry Bench.