NACE, the National Association of Corrosion Engineers, conducted the survey, published in March 2016. Impact resembled about twenty researchers, engineers and professors mainly American and European. Supervised by Elaine Bowman, the former president of NACE International, this team attempted to examine the current role of corrosion management in industry and governments to establish best practices
According to this study, the overall cost of corrosion is estimated at: $2.5 trillion per year.
By implementing good practices to combat corrosion, scientists and experts estimate that, depending on the sector, savings could be achieved between 15% and 35% of the cost of corrosion. This represents, globally, between USD 375 and 875 trillion.
Corrosion control offers a cost advantage. To understand the full extent of the potential savings to be realized, the authors of the study conclude with the obligation to reduce the risks and optimize its costs of implementing a corrosion management system that must be integrated into the system management and management of the company.
This study also shows the difficulties in promoting and explaining the benefits of a corrosion management system. The savings generated are difficult to measure and quantify clearly. Researchers show that maintenance costs are slowly decreasing. The study also specifies that control or inspection costs are decreasing or inspection intervals are increasing. Feedback from a corrosion management system shows fewer failures that save production time and/or product loss. The reduction of releases to the environment, the improvement of public relations, the profits generated directly integrate the assets of the capital…. All of these elements can be included in the business case of a corrosion management system and are difficult to quantify. But their impact on corporate profits would be real.
NACE's IMPACT study on corrosion also builds on the success story of the U.S. automotive industry, which has implemented numerous corrosion management strategies to optimize its production costs. Since 1975, the car manufacturers have led coordinated efforts to improve the design, materials and processing of parts. This corrosion management policy was not a "rapid overview" but a continuous improvement, over a relatively long period of time, in all aspects of corrosion. This change in strategy to effectively combat corrosion by the automotive sector was decided at the highest hierarchical level. The study shows the effectiveness of this plan to combat corrosion, which results in lower manufacturing and operating costs as well as an increase in automobile lifespan for the public.