It says right in the patent for it:
"In the process described in the above U.*. patent, a paint sealant composition in the form of a tetrafluoroethylene monomer and an abrasive compound are applied to the painted surface." ..... "It has been found in practice that the utilization of the abrasive and buffing action requires substantial skill by the applicator, and that improper application of the composition results in damage to the paint or removal of the paint from the surface"
Also it uses PTFE or as its more commonly known, Teflon.