As per the label: It states...

 ***The dielectric silicone compound (is sold in a red/white tube for about
$2.00 or $3.00 if I remember right) it's for electronic ignitions. It is
required to prevent voltage loss from arcing, suppress radio freguency
interference, dissipate heat, insulate connections and seal out moisture.
Use on modules, rotors, spark plug boots, marine light sockets, and other
connections...

                I hope this helps, Mtngal