There are several types of paint available on the market. Those paints include latex, acrylic latex, oil based, lacquer, epoxy and high heat. These types of paints are also available in exterior and interior formulas. This can prove to be confusing for the average homeowner. The most effective paint for your metal chimney is one that is rated for high heat.
Preparation
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Check your chimney for any areas of rusting metal. Rust will not hold paint effectively, and will ultimately push your new finish off. Use a steel wool pad and sand all rusted areas. After you have sanded any rust, use a damp rag to wipe off residue from sanding. Thoroughly clean off any dust and debris from the metal chimney.
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Aerosol
High heat paint can be purchased in an aerosol spray can. Protect the shingles around the chimney with painter's paper and painter's tape. This will keep over-spray from coating your shingles. Use a continuous motion while you are using the aerosol spray; holding the can in one spot for too long will result in runs and sags in your paint.
Brush On
High heat paints can also be purchased in a liquid form that you can brush on instead of spraying an aerosol. Using a brush-on paint will eliminate the need for painter's paper and tape. Just use a standard paint brush and apply in light even strokes. Do not try to apply too heavily at once. You can always apply a second coat.
Primer
Choose a high heat paint that is rated for more than 250 degrees F. This paint is self priming, so there is no need for you to prime first. High heat paints that are rated for less than 250 degrees F have primers available based on the temperature rating of the metal that you are painting. It is best to use a paint rated for a minimum of 250 degrees F for a metal chimney.