CoatingsPro Magazine

MAY 2016

CoatingsPro offers an in-depth look at coatings based on case studies, successful business operation, new products, industry news, and the safe and profitable use of coatings and equipment.

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18 MAY 2016 COATINGSPROMAG.COM The two-year global study, released at the CORROSION 2016 conference in Vancouver, B.C., examined the economics of corrosion and the role of corrosion management in establishing industr y best practices. N ACE Inter national has released the "Inter nationa l Measures of Prevention, Application, and Economics of Corrosion Technolog y (IMPACT)" study, in which it estimates the globa l cost of corrosion to be US$2.5 tr illion, equiva lent to roughly 3.4 percent of the globa l gross domestic product (GDP). T he t wo-year globa l study, released at the COR ROSION 2016 conference in Vancouver, B.C., examined the economics of corrosion and the role of corrosion management in establishing industr y best practices. T he study found that implementing corrosion prevention best practices could result in globa l sav ings of bet ween 15 and 35 percent of the cost of damage, or US$375 – 875 billion. " T he IMPAC T study reinforces what recent news head lines have made a l l too c lear: T here needs to be a change in how cor rosion decisions are made," said Bob Cha l ker, CEO of NACE Inter nationa l. " W hether it is a pipeline, an air plane, a water treatment plant, or highway br idge, cor rosion prevention and control is essentia l to avoid ing catastrophic events before it 's too late." Looking beyond corrosion's cost to businesses and industries world- w ide, IMPACT assessed corrosion management practices across various industries and regions. Specifically, the study examined the oil and gas, pipeline, and drinking and waste- water industries, as well as the U.S. Department of Defense. IMPACT also includes a case study of corrosion management within the automobile industry, which it found over time saved US$9.6 billion, or 52 percent annually in 1999 compared to 1975. "Looking at the success within the auto industry, corrosion prevention decisions were made at the highest levels," said Chalker. "Te result has been lower corrosion costs for auto makers and longer lasting autos for consumers." Corrosion management systems (CMS) address the threat of corrosion for existing and future assets across the complete lifecycle of the asset, from design to decommissioning. T he IMPACT study notes CMS best practices for companies, including corrosion management systems that are integrated w ith organization policy overall; corrosion management infor- mation is made available to ever yone w ithin the organization and linked to its overall goals, and organizational leadership is actively involved in corro- sion management decision making. T he study a lso identif ied the need for more cor rosion management professiona ls, g iven there is a sig nif- icant wave of retirements in this area projected in the next decade. In fact, Universit y of A k ron in Ohio prov ides the only bachelor's deg ree in cor ro - sion eng ineer ing , w ith its f irst c lass g raduating in 2015. " T here needs to be a renewed sense of pr ior it y for cor rosion eng ineer ing amongst employers and educators," said Jim Feather, NACE Inter nationa l immed iate past presi- dent. "NACE has prov ided training and professiona l development to tens of thousands of eng ineers and profes- siona ls in more than 140 countr ies, but the industr y needs more academic prog rams and more universa l means of communications across a l l levels of business." To learn more and view the IMPACT study in its entirety, visit CP NACE News NACE International Releases IMPACT Study Results

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