I would imagine it would help, depending on what you want to use it for. I used a similar product, Palmer/Pletsch Perfect Sew, many years ago to do a decorative stitched hem on some nylon tricot. I was very pleased with the product, but it was quite stiff when it dried. It washed out nicely and no puckers.
A few links about Terial Magic here on QB.
Machine embroidery using Terial spray.
Terial Magic Magic Spray has been recommended to me instead of Best Press
Terial Magic
Janey - Neat people never make the exciting discoveries I do.