its a process commonly known as dipping, its pretty durable when applied to smooth surfaces, but textured surface tend to peel. theres a guy in my area that does it, pretty good too, my boss had him do a few riffles and his rhino in camo, but in my opinion the cf never really looks REAL.....the stone, wood and camo are all amazingly realisti but the cf is bit below par.
any ways good luck with your project and be sure to post pics