Rubber spray as an alternative to wrap or coatings

[rider]

I was looking at options to rubber or plastic coat steel fuel lines for my American car and although the coatings have been around for a good number of year I've never really heard of them or of people using them here in the UK. I'm wondering why as the paint is pretty cheap (£100 for 5l) and if you want to change colour you can spray over it easily with a differnt colour. Comes in spray cans or liquid. Another common application is to rubber grip metal handles on tools. If you tire of it, just peel it off. Has anyone ever used this to do wheels, panels or what I'm thinking of for steel fuel and brake lines to give some corrosion protection?

 

I'm tempted to go play with some just for the fun of it.