Hill, not sure about spraying on your mast. Sailing, we spray it in mast pocket and in mast track, that's about all we do.
Fortunately for windsurfing our masts are coated, either Ali or carbon fibre.
I do know it makes a hell of a difference when derigging at end of the session

getting the mast out. Need to keep it away from the boom clamp area as this isn't the best place to have it, so its used sparingly.