Rust and Corrosion Impacts All Industries and Overall US GDP

The Economic Toll of Rust and Corrosion on the U.S. GDP

Rust and corrosion are not just concerns for maintenance teams and engineers; they represent a significant economic challenge for the United States. According to the Federal Highway Administration, the cost of corrosion in the U.S. alone is estimated to be around $276 billion each year or an estimated to cost of 3.1% of the US’s Gross Dometic Product (GDP). The impacts of these processes reach across multiple industries, leading to lost productivity, increased maintenance costs, and shortened equipment lifespans. NACE or The National Association of Engineers stated in 2016 that rust, and corrosion causes over 2.5 Trillion dollars in loss worldwide.

The Economic Impact: A Billion-Dollar Drain

Industry-Specific Impacts

Transportation:
- Bridges and Roads: Corrosion of steel and concrete in transportation infrastructure not only requires frequent repairs but also poses safety risks. The American Society of Civil Engineers has noted that deteriorating infrastructure could cost the economy an estimated $4 trillion by 2025 if not addressed.
- Public Transit: Aging rail systems are often plagued by corrosion, leading to service interruptions and increased maintenance costs that ultimately affect commuter productivity.
Manufacturing:
- Machinery and Equipment: Corrosion reduces the lifespan of manufacturing equipment, leading to increased capital expenditures. Downtime for repairs can disrupt production schedules, affecting delivery timelines and revenue.
- Quality Control: Corroded tools and machinery can result in defective products, leading to warranty claims and loss of consumer trust.
Energy:
- Oil and Gas: The U.S. energy sector faces severe corrosion challenges in pipelines and offshore platforms. The costs associated with leaks and spills can reach billions, factoring in clean-up, regulatory fines, and environmental damages.
- Renewable Energy: Wind turbines and solar panels are not immune to corrosion. The maintenance and replacement of corroded parts can hinder the growth of renewable energy investments.
Construction:
- Materials and Structures: The construction industry deals with the effects of corrosion on buildings and infrastructure. Corrosion can lead to structural failures, necessitating costly repairs or rebuilding.
- Building Codes and Regulations: Increased awareness of corrosion has led to more stringent regulations, which can raise costs for construction firms and impact project timelines.
Marine and Shipping:
- Vessels and Infrastructure: Ships and ports are exposed to harsh marine environments, making them susceptible to corrosion. Maintenance of vessels is costly and can lead to significant downtime.
- Economic Implications: Delays in shipping due to maintenance can disrupt supply chains, affecting prices and availability of goods.

So are there any solutions to removing or even preventing corrosion?

At (ICS) Innovative Corrosion Solutions, we are masters of corrosion prevention and treatment. As an authorized Cortec distributor, we provide advanced solutions to a broad range of industries. Cortec’s recyclable VpCI^® plastic sheeting and bags are powerful, cost effective, and simple to use. They provide Total Corrosion Control for multiple metal types and come in many sizes and formats—from small top-seal bags that protect nuts and bolts, to 30 foot (9.1 m) wide heavy-duty sheeting for storing giant industrial equipment outdoors.

VpCI^® molecules in the films and bags vaporize and then condense on metal surfaces in the enclosed package, forming an invisible molecular protective layer against the corrosive forces of salt, excessive humidity, condensation, moisture, aggressive industrial atmospheres, and dissimilar metal corrosion. After the metal part is taken out of the package, the VpCI^® molecules float away, and the metal components, machinery, or products are ready for immediate use, no cleaning or degreasing required.