Karthick Subbiah, Ravi Kumar Sonwani, Tanmoy Sinha, Sandeep Gope, Rajesh Chawla, Dipankar Pal
Abstract Many industries are located near coastal regions due to the availability of water resources and efficient transportation. These industries use mild steel extensively due to its cost‐effectiveness, mechanical properties, and ease of fabrication. However, mild steel faces a significant challenge from corrosion under aggressive industrial conditions (temperature, corrosive ions, pH, humidity, etc.). Hence, it is vital to address the corrosion‐related issues to minimize the economic, environmental, and safety impacts. This review outlines the electrochemical processes that lead to corrosion and its effects on industrial systems while emphasizing cost‐effective solutions. The review classifies protective coatings into three types: inorganic, organic, and hybrid. It highlights the role of nanocomposites and assesses their performance under various conditions. Additionally, it discusses the importance of surface preparation using a rust conversion agent for effective corrosion resistance. Finally, the review surveys future directions, emphasizing sustainable strategies to combat corrosion and offers valuable insights designed to enhance protection methods in industrial applications.