pfl OE ARB lubricant?

[Joesson]

I'm in process of de rusting the underside components on my  2002 pfl.
Having removed the rear OE ARB ( I probably will leave the drop links as they are in good condition and I understand are not the easiest to remove intact), I found that the bushes outside and inside were coated with what looks like candle wax.
I presume this is a lubricant to reduce wear of the bush, if so it seems to have worked .
Any ideas as to what this is?
The bushes appear to be in good condition and I did not want to replace them this year.
Will do so in future to polybushes which seem to be a popular replacement.
Advice/ ideas appreciated.