According to NACE International—The Worldwide Corrosion Authority, the economic impact of corrosion is estimated to be $1446.7 Billion US dollars annually for the industrial sector world wide (2013). The Australasian Corrosion Association Inc equates this to “a high estimate of $78 billion per annum being spent on remediating assets affected by corrosion” (2021) for Australia alone.
One of the largest industries being faced with the cost of corrosion in Australia is Oil and Gas. Corrosion is a common issue faced at many touch points for the oil and gas industry from pipelines, refineries and petrochemical plants, costing the industry in many ways directly and indirectly from the loss of product to the cost of shutting down relevant infrastructure. The NACE study estimates that the cost of corrosion could be reduced by 15-35% through utilising corrosion control practices.
APEX ETG provides successful corrosion control solutions to industries resulting in
- Longer service life for components and systems
- Improved efficiency over the life of components and systems
- Reduced cost of replacement
- Wider scope for structural materials
- Reduced impact on the environment