The development of polyurethane materials and process optimization are currently the subjects of extensive study. Polyurethane is characterized by high physicochemical and operational properties. Polyurethanes have high wear resistance, and oil and gasoline resistance. They have excellent thermophysical and elastic properties. This allows the use of polyurethanes in many industries where materials with high-performance properties are required. Polyurethanes are widely used in many industrial applications, protective coating manufacturing, and anti-corrosion agent applications. A significant number of studies have been conducted to improve the physical, mechanical, and operational properties of polyurethane polymers, in particular the anti-corrosion properties of modified polyurethane coatings. The properties of polyurethane polymers for various applications can be improved by changing monomers and their ratios and the process of preparations. Preparation of polyurethane polymers based on polyols and isocyanate monomers using a polyaddition process in the presence of a catalyst as well as solvents including toluene, xylene, and acetone. There are different factors affecting the physical and mechanical properties of polyurethane polymers were investigated by different techniques. The factors were types of isocyanates, polyols, OCN/OH ratios, solvents, catalysts, and temperatures. Generally, the polyols are responsible for the flexibility of the polyurethane polymers and isocyanates are responsible for the rigidity of the polyurethane polymer and crosslinking between the backbone of the polymer. Because of the flexibility of its chemistry, they may modify the coating's characteristics based on the intended use. The effects of different polyols and polyisocyanates' chemistry are assessed. The hydrophobicity, thermal stability, and mechanical and anti-corrosion properties of polyurethane polymers were investigated. As a result, the properties of polyurethane polymers such as hydrophobicity, thermal stability, and mechanical and anti-corrosion properties were all enhanced when all the above factors. An outline of the most modern, financially successful methods for creating protective polyurethane coatings and using them as anti-corrosion agents is given in this review article.