We have a cinder block foundation in our 1920s home. When we moved in, the basement was somewhat damp with elevated humidity readings. We can see some efflorescence on the foundation walls, but no visible water. The surface of the wall is crumbling in a few places. There is no evidence of hydrostatic pressure from below the slab. Currently, we manage the humidity quite well with two small dehumidifiers (~45%).
Is there any structural benefit to applying any type of coating to the walls (e.g. hydraulic cement or epoxy), or would that only be for the purpose of water-proofing? Would it extend the lifespan of the foundation?