NACE’s Impact Study: A Good Place to Begin the Conversation

June 2017, Vol. 244, No. 6

Over past two decades there have been significant studies in various parts of the world on the cost of corrosion and its effects on the economy. The often-cited 2002 study, Corrosion Costs and Preventive Strategies in the United States, revealed that the total annual estimated direct cost of corrosion was $276 billion – equivalent to about 3% of the U.S. gross domestic product (GDP). Studies in other countries have shown a similar percentage of GDP. Recently, NACE International embarked on a new study that went beyond the economic effects of corrosion, emphasizing the integration of…

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