Over the past decade, Artificial Intelligence has significantly advanced, mostly driven by large-scale neural approaches. However, in the chemical process industry, where safety is critical, these methods are often unsuitable due to their brittleness, and lack of explainability and interpretability. Furthermore, open-source real-world datasets containing historical failures are scarce in this domain. In this paper, we investigate an approach for predicting failures in chemical processes using symbolic machine learning and conduct a feasibility study in the context of an ethylene oxidation process. Our method builds on a state-of-the-art symbolic machine learning system capable of learning predictive models in the form of probabilistic rules from context-dependent noisy examples. This system is a general-purpose symbolic learner, which makes our approach independent of any specific chemical process. To address the lack of real-world failure data, we conduct our feasibility study leveraging data generated from a chemical process simulator. Experimental results show that symbolic machine learning can outperform baseline methods such as random forest and multilayer perceptron, while preserving interpretability through the generation of compact, rule-based predictive models. Finally, we explain how such learned rule-based models could be integrated into agents to assist chemical plant operators in decision-making during potential failures.