This is insucoat bituminous emulsion by insutech.
what it is:
water-based bitumen coating. "bituminous emulsion" = asphalt/bitumen dissolved in water. dries to form a black, waterproof film. label says "protective coating for waterproofing".
used for:
1. waterproofing primer/coat - main job. applied on concrete, foundations, basements, retaining walls before torch-on membrane or polyken tape.
2. damp proofing - prevents moisture/ground water from seeping through concrete.
3. primer for bitumen membranes - helps torch-on membrane stick better to concrete.
4. pipe protection - sometimes used as primer before wrapping polyken tape on steel pipes.