It’s no doubt that corrosion plays a major role in the world around us. From utilities to transportation to the very homes we live in. Corrosion is everywhere. We know that corrosion is often a dangerous and challenging obstacle for industry sectors to face. Corrosion prevention and maintenance are key. But what does it come down to in dollars? How is the world and the U.S. economy effected by the cost of corrosion? It happens that the cost of corrosion, if not prevented, is just as grand as corrosion itself.
How much Does Corrosion Really Cost?
The dangers of corrosion are real and a lack of proper corrosion management can be costly. It has been reported that corrosion is one of the largest expenditures that the US economy faces, ranking in at 6.2% of the GDP. A federal study held by the NACE in 2002 found that metallic corrosion effects nearly every single industry sector in the U.S. The sector with the highest corrosion costs is without a doubt the industry sector with the service and agriculture industries coming in at second and third. The NACE additionally found that the cost of corrosion in the U.S. is $276 billion. That’s billions of dollars being spent due to corrosive materials not being properly taken care of. Getting a handle on corrosion is crucial for the livelihood of any operation. Luckily there many ways to prevent corrosion in the first place.
Corrosion Prevention is Here
While the numbers are staggering, the cost of corrosion can be prevented with the right strategies. Containing and preventing corrosion is more than possible thanks to modern technological advances. Corrosion inhibitors and industrial coatings are sure proof ways of warding off and fighting corrosion. Your equipment and assets are the integrity of your business. Spear Industrial Coatings provides an all-around service catered to keeping your investments and environment safeguarded from the dangers of corrosion. Give us a call today at 432-606-4093 and we will give your equipment the inspection it needs with the estimate you deserve.