Research from NACE International1 indicates that the effects of corrosion can contribute between 3.5 per cent to 5.2 per cent (average of 4.35%) of global gross domestic product. If these results are extrapolated for Australia’s GDP, this equates to a high estimate of $78 billion per annum being spent on remediating assets affected by corrosion. While New Zealand has a smaller economy, using the same estimated impact, the cost of corrosion is approximately $NZ16 billion.
The ACA commissioned this report to investigate the impact corrosion has on a range of Australia’s and New Zealand’s national infrastructure assets. The ACA’s mission is to reduce and mitigate the effects of corrosion in Australasia. By undertaking this report, the ACA is aiming to elevate the discussion around the timely, cost-effective prevention of corrosion while highlighting the annual financial impact corrosion has on our national assets. The overall objective is to provide a resource that will help ensure corrosion is managed sustainably and cost-effectively to ensure the health and safety of the community and the protection of the environment.
1International Measures of Prevention, Application and Economics of Corrosion Technologies (IMPACT) Study – 2016, NACE International, 15835 Park Ten Place, Houston, TX 77084
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