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The purpose of the cost-of-corrosion portion of the IMPACT study is to establish an estimate for the cost of corrosion at a global level utilizing past studies. The current study did not attempt to collect new data or perform any new cost of corrosion analysis beyond using publicly available studies to estimate a global cost of corrosion. Therefore, the cost of corrosion performed within the IMPACT study is limited by the completeness and number of available studies. Appendix A contains the detailed global corrosion assessment. The global cost of corrosion is estimated to be US$2.5 trillion, which is equivalent to 3.4% of the global GDP (2013). By using available corrosion control practices, it is estimated that savings of between 15 and 35% of the cost of corrosion could be realized; i.e., between US$375 and $875 billion annually on a global basis. These costs typically do not include individual safety or environmental consequences. Through near misses, incidents, forced shutdowns (ou

Download IMPACT Report Economic Impact The purpose of the cost-of-corrosion portion of the IMPACT study is to establish an estimate for the cost of corrosion at a global level utilizing past studies. The current study did not attempt to collect new data or perform any new cost of corrosion analysis beyond using publicly available studies to estimate a global cost of corrosion. Therefore, the cost of corrosion performed within the IMPACT study is limited by the completeness and number of available studies. Appendix A contains the detailed global corrosion assessment. ASSESSMENT OF THE GLOBAL CO

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