NACE International today released the "International Measures of Prevention, Application and Economics of Corrosion Technology (IMPACT)" study, in which it estimates the global cost of corrosion to be US$2.5 trillion, equivalent to roughly 3.4 percent of the global Gross Domestic Product (GDP). 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 industry best practices. The study found that implementing corrosion prevention best practices could result in global savings of between 15-35 percent of the cost of damage, or between $375-875 billion (USD). Read the article.