Corrosion’s Negative Effect on the World Economy and How Seal n Peel Can Help

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Every industry is subject to some form of wear and tear from the elements and other factors. This includes rust and corrosion. However, rust and corrosion, while being natural, is a “controllable” form of wear and tear. Rust can be controlled or minimised by using protective methods like metallic protective coatings such as that provided by seal n peel Unituff 452 (formerly Seal’n’Peel).

The Global Economic Impact of Rust

Globally, total rust-related costs amount to 3.4% of the world’s total GDP. This is equivalent to around $2.5 trillion annually.

When broken down in rough monetary terms, each industry loses the following from rust and corrosion:

  • Petroleum Refining - $3.7 billion
  • Chemical, Petrochemical, and Pharmaceutical - $1.7 billion
  • Oil and Gas Exploration and Production - $1.4 billion
  • Food Processing - $2.1 billion
  • Mining - $0.1 billion

Rust and Corrosion Protection

Rust protection can play a huge role in preventing direct and indirect costs. Direct costs are actual costs spent on fixing rusty materials or equipment. Indirect costs are expenses incurred due to legal liabilities, health and environmental issues, and delays in production because of rust. 

These two operational costs can reach a staggering $522 billion annually. In Australia, corrosion costs the Australian economy a staggering $30 billion annually.

Studies conducted by NASA and NACE.org estimate that industries can save between 25% and 35% from rust-related costs through optimum corrosion management practises like using a polyvinyl chloride copolymer solution metal protective coating such as Unituff 452.

Again, broken down in monetary terms, if each industry uses protective coatings such as Unituff 452 or Unituff OGS (for stainless steel) for all metal spare parts and other materials, the following can be saved:

  • Petroleum Refining - $1 - $1.11 billion.
  • Chemical, Petrochemical, and Pharmaceutical - $425 - $510 million.
  • Oil and Gas Exploration and Production - $350 - $420 million
  • Food Processing - $525 - $630 million
  • Mining - $25 - $30 million

The Destruction of Rust

Rust or corrosion is the atmospheric oxidation of metals. Because of this natural reaction to its environment, metals are slowly destroyed. The severe consequences of rust have become a problem of global proportions. Because of this metal destruction and degradation, rust can cause plant shutdowns, delays in operations, waste of valuable resources, expensive overdesign, costly maintenance, loss or contamination of product and reduction in efficiency. Rust can even compromise or jeopardise worker’s safety.

In finding the most convenient solution to rust control, most industries have realised at least three basic methods:

  • Modifications to the environment with the use of inhibitors.
  • Design modifications to the system or component.
  • Use of protective metallic coatings.

In the case of number three, many in the oil and gas production industry in Australia have turned to Seal’n’Peel Unituff 452 and Unituff OGS. This metallic coating is peelable and permanently flexible. This external coating can be easily brushed on or sprayed for use on carbon and mild steels like iron. For stainless steel, Unituff OGS is specially made for it.

Once Unituff 452 seal n peel is applied, it prevents moisture and rust creep to give full protection to whatever it is coated on. For enquiries or to request a quote about Unituff 452 and its other products, be sure to visit the Unituff website, https://unituffglobal.com/.