Corrosion is natural and inevitable, but it can be minimized and delayed. To truly understand the cost of not implementing sound corrosion practices, consider a study conducted by the U.S. Federal Highway Administration (FHWA) and National Association of Corrosion Engineers (NACE). The study estimates the annual direct cost of metallic corrosion to the U.S. economy is 3.1% of the gross domestic product (GDP) or approximately $300 billion.
Beyond the huge direct outlay of funds to repair and/or replace corroded bridges, facilities, and architectural steel, there are costs associated with accidents caused by corroded structures, needless consumption of natural resources to constantly repair and maintain infrastructure, and lost productivity when delays cause traffic jams or lost opportunity. Depending on which market sector (industrial, infrastructure, commercial, etc.) is being considered, these indirect costs may be as high as five to ten times the direct cost.
The study also states avoidable corrosion accounts for about one third of the total corrosion costs and concludes “these costs could be reduced by broader application of corrosion-resistant materials and the application of the best corrosion-related technical practices.”
