The short answer is NO. Many people have seen or heard of wound sealants and wonder if they should be using them for the tree’s health. The tree care industry has done a 180 on this topic, from advocating to discouraging their use, which has confused many. This was a common practice decades ago; old tree care texts recommended it and sealant products are still sold at many garden centers. Many substances had been used from roofing tar to latex house paints. It was believed that using these on trees kept out fungi after a cut exposed its vascular tissues.
Research has since shown that tree cuts need open air to trigger natural wound sealing properties. Trees contain chemicals that inhibit fungi and resist decay in the area where a branch meets the main trunk. This area, called the branch collar, is where we are supposed to make our final pruning cut when removing a branch for this very reason. Therefore, the best way to guard against fungi and decay development is to make accurate and judicious cuts and let them breathe.