Underbody structural components are typically coated to provide a first line of defense against corrosion. Anti-rust coatings help in prevention or delay of rusting of steel and iron objects, or the permanent protection against the corrosion. Underbody anti-rust coatings are chemical compounds basically applied to the undercarriage of vehicles. They may also be applied over other areas such as wheel wells, trunks etc. Underbody Anti-Rust coatings are extensively applied in vehicles used by transport agencies, which are used to protect a substrate by providing a barrier between the metal and its outside environment, especially in chloride-laden environments and protecting a vehicle from damage due to gravel, road salts, sand and other grime. Coatings must be uniform, pore free, well adhered and self-healing for providing adequate corrosion protection. Underbody anti-rust coatings not only protect against corrosion, but also improves aesthetic and sound deadening function. Underbody anti-rust coatings are generally composed of polymeric binder, filler and an anticorrosive pigment. Underbody Anti-Rust coatings have attracted many attentions from many years due to its efficiency and simplicity in application. There are different types of undercoats available in the market which include asphalt based, water based, rubber based etc. Rubberized undercoating is the most commonly used coatings owing to various advantages such as low cost, fast drying, sound deadening, rust proofing, etc. Underbody anti-rust coatings are generally based upon inhibitive coatings, barrier protection or anodically active metal coatings. In automotive application, basically there are five types of steel corrosion viz. uniform corrosion, cervice corrosion, pitting corrosion, galvanic corrosion and cosmetic corrosion.