Carbon fiber it isn't but seems to be a good way to seal the out side of a trailer.
I saw this on a TTT at the LCG gathering so it isn't new to me. A fine gentleman there had used what I'd call a paint and cloth finish on one of the trailers that he had there. Sorry I'm bad with names and can't remember yours so if you read this jump in and share more.
The technique is to apply a thick coat of house paint to the side of the trailer than press some kind of cloth into the paint and add a couple more coats of paint.
The gentleman at LCG said that he had made boats this way so it should work on trailers.
Here is what the finish looks like on a piece of 1/2" foam
I found an added bonus to this. Try this with a piece of 1/2" foam.
Yes that is bent double and it doesn't seem to effect the out side finish except for some gatoring of the paint and there is no apparent damage to the foam.
GAry