Yes, it can be used... in fact it works very well...
I once worked on a project sealing a boat built from concrete ... fibre and steel reinforced cement really...
This was done with West Systems Marine Epoxy, but EC coating epoxy should work just as well..
The surface needs to be as clean as humanly possible though, and you may have to put on several layers, sanding in between.
If you really want the surface to be perfect, then i suggest a finishing coat of 2-component urethane laquer.
This will end up a bit more expensive than chipboard though ...

My kitchen table tops are made from plywood, 4 layers of 9 mm mahogany surfaced shipbuilding plywood, epoxied together and coated in 2-component urethane marine laquer (leftovers from another project).. then matt polished using very fine steel wool, and waxed... Looks VERY expensive .... total cost less than £ 100,-
"Sapere Aude"... Dare to KNOW!
The written word is the only truly efficient vehicle for transmitting a complex concept from mind to mind...
103% of all people do not understand statistics...
Do not adjust our mind, theres a fault in reality :-)