Do not use it on your hives. The chemical makeup is not good for bee health.It uses a wetting agent that allows the wax (a main ingredient) into the pores of the wood. The wetting agent is a chemical that would not be good for bees.
If you want to coat your hives. Melt beeswax and paraffin in a large tub. Dip the hive into the tub. Remove and allow to cool.