Cost of Corrosion Annually in the US Over $1.1 Trillion in 2016

Corrosion will cost the U.S. economy over $1.1 trillion in 2016. That’s one of the largest expenditures we make, and it’s all going down the drain. The total annual corrosion costs in the U.S. rose above $1 trillion in the middle of 2013, illustrating the broad and expensive challenge that corrosion presents to equipment and materials and is now estimated at $1.1 trillion for 2016. These estimates are based on a landmark study by NACE that estimated (direct) corrosion costs were $276B in 1998 as reported in the NACE Corrosion Costs Study. However, that report leaves out the enormous (at least as much as direct costs, according to the authors and other analysts) tally of indirect costs that the consumers experience from corrosion and the inflation increases since 1998. Read the article.