The cost of corrosion in China

Corrosion is a ubiquitous and costly problem for a variety of industries. Understanding and reducing the cost of corrosion remain primary interests for corrosion professionals and relevant asset owners. The present study summarises the findings that arose from the landmark “Study of Corrosion Status and Control Strategies in China”, a key consulting project of the Chinese Academy of Engineering in 2015, which sought to determine the national cost of corrosion and costs associated with representative industries in China. The study estimated that the cost of corrosion in China was approximately 2127.8 billion RMB (~ 310 billion USD), representing about 3.34% of the gross domestic product. The transportation and electronics industries were the two that generated the highest costs among all those surveyed. Based on the survey results, corrosion is a major and significant issue, with several key general strategies to reduce the cost of corrosion also outlined.