Heat resistant paint

We're painting our laundry room, and being that it's already not a cooled space, the water heater's radiant heat severely damaged the (admittedly ancient) paint in the corner where it sits over the years. I've got that paint scraped/prepped for new paint, but I would like to use something that's not going to yellow or crack/peel with the heat.

The water heater exhaust is properly vented (brand new, inspected venting); it just seems to be heat from the tank itself causing the yellowing on the old paint.

Any ideas/suggestions?