Never used it on a trailer but have spread a fair bit of it around on steel tugs. If your surface prep is absolutely spot on, the structure doesn't flex and crack the paint and it doesn't get chipped, it goes OK. Apart from that - it's sh*t or at least the stuff I have used is. Biggest issue with a trailer would be that during assembly, it will damage and then you might as well have not bothered IMO. The trailer would have to be built the right way with no hollow sections as well.