The chemical composition of rust primarily consists of iron oxides, which are formed when iron reacts with oxygen in the presence of moisture. The most common type of rust is hydrated iron(III) oxide (Fe2O3·nH2O), although other variations, such as iron(II) oxide (FeO) and iron(III) oxide (Fe2O3), can also occur. Rust formation is a gradual process that requires both an oxidizing agent and an electrolyte, often facilitated by water and environmental factors like humidity. Rust weakens the structural integrity of iron and steel through corrosion, leading to degradation and potential failure of metal structures.