According to a study by the U.S. Federal Highway Administration, it’s estimated that the direct cost of corrosion in the United States in 2002 was roughly $276 billion, which is equivalent to 3% of the Nation’s GDP. While many industrial manufacturers may not be aware of this, corrosion costs a lot of money and can negatively affect the economy. Read on to find some lesser-known facts about the cost of corrosion in the United States.
How Does Corrosion Impact the Nation’s Economy?
Corrosion not only affects the aesthetics of metal components but also causes damages to its function. When the structural integrity of metals and other components is compromised, that means an additional investment is required to replace or remedy the affected parts. Therefore, corrosion can lead to significant financial losses.
The financial losses resulting from corrosion are not only related to the replacement of damaged parts but can also come from consequences, such as litigation, an interruption in manufacturing operations, and decreased productivity. It’s therefore important to put measures in place to control the devastating effects of corrosion on the country’s economy.
Can Corrosion Be Controlled?
The good news is that corrosion is controllable, meaning that the financial losses resulting from corrosion can be reduced. There are many corrosion control techniques that industrial manufacturers can take advantage of to improve their corrosion management. For instance, it’s important to source metal components from the right supplier. Components like flanges can strengthen equipment and machinery, and they can also resist corrosion if they’re manufactured according to the latest design practices.
Besides sourcing quality and corrosion-resistant flanges and other metal components, it’s also important to implement policies, regulations, and standards of best corrosion management practices. It’s crucial to adopt corrosion-related technologies that control the surrounding environment. Corrosion is a chemical process that’s facilitated by moisture and oxygen, so climate control solutions can help prevent the occurrence of corrosion.
Making the Most of Your Corrosion Management Method
While corrosion can’t be entirely eliminated, a little proactivity can save you substantial amounts of money. For instance, by investing in quality flanges and conducting regular maintenance and inspections, you can reduce the unnecessary financial losses associated with the corrosion of metals. Get in touch with Lynco Flange & Fitting today for more information on how our products can help your next project!