A coating composition for application to a component or structure has cellulose acetate, a plasticizer with an antioxidant, a corrosion inhibitor with an antioxidant, a vegetable oil, and a stabilizer. The plasticizer is linseed oil. The corrosion inhibitor is canola oil. The vegetable oil is epoxidized soybean oil. The stabilizer is titanium dioxide. These components are intimately mixed together so as to form a solid mixture. The solid mixture is converted into a solid state and applied to the component or structure. The liquid state is then dried on the component or structure for a period of time.