rust preventive - compound for coating metal surfaces with a film that protects against rust; commonly used for the preservation of equipment in storage. The base material of a rust preventive may be a petroleum oil, solvent, wax, or asphalt, to which a rust inhibitor is added. A formulation consisting largely of a solvent and additives is commonly called a thin film rust preventive because of the thin coating that remains after evaporation of the solvent. Rust preventives are formulated for a variety of conditions of exposure, e.g., short-time "in-process" protection, indoor storage, exposed outdoor storage, etc.