Join Date: Apr 2006
Thanked 181 Times in 178 Posts
Rep Power: 13
No paint lasts forever, and unless the prep under it was done perfectly, it will peel off way sooner than that. Once you get one nick, scrape, or ding, the coating is broken and the water creeps in and then the rest starts to peel, no matter how good the paint was.
After 20 years it might just be time to strip down to bare metal, prime it properly, and start fresh with new paint. Maybe fair the keel while you're in there.