The IMPACT Canada Study was successfully completed in April 2021. Before launching to the public, the two major sponsors – IUPAT and NACE Northern Area – were given previews of the study.
In June 2020, the IMPACT Canada Study was launched publicly. The key purpose of conducting this study was to foster coordination between government and industry to advance corrosion mitigation practices by informing decision makers and give them the tools needed to actively work on solutions with materials and
corrosion engineers and those who maintain corrodible assets.
A key result of the study indicated that asset-owner companies in Canada must become strategic in the way they predict and manage the likelihood and consequence of corrosion-related incidents across the entire lifecycle of an asset, with thought given to their long-term return on investment. While this is recognized by many corrosion professionals, introducing this approach of corrosion management −across the entire life cycle of an asset− remains a challenge.
Key findings from the study:
- $51.9 billion Annual Price Tag – This estimated annual cost of $51.9 billion in corrosion costs can be lessened with readily available corrosion mitigation practices
- 2.98 Percent of Canada’s GDP – The annual cost of corrosion as related to GDP
- Take a Strategic View of Corrosion Mitigation – To fully tackle corrosion’s impact, asset and facility owners must take a strategic view of managing its effects through the entire asset lifecycle
- Adopt a Corrosion Management System (CMS) – Utilizing a CMS is needed for organizations to manage this process
- Industry sectors highlighted in the study:
- Energy (Oil and Gas, Pipeline, and Energy Utility
- Manufacturing (Automotive, Steel, and Pulp and Paper)
- View the IMPACT Canada Report