It will, in time, dry out if left to air dry for an extended length of time. It is not reusable after drying. It should be able to pass through the opening in the tank when fully saturated. Its composition is similar to many plastic products in widespread use in all parts of the world. Water removal works best if it is allowed to coalesce and settle to the bottom of the tank.
Water dispersing fuel additives emulsify the water with the fuel.
This has the effect of bonding the water to the fuel. One water droplet may be reduced to many minute parts by water dispersing additives. Some approved aviation fuel additives, such as Biobor JF or Priest, are not water removing additives . Gasoline or alcohol used as an additive reduces the lubrication ability of the fuel , which could result in fuel system damage or engine failure. Use of gasoline or alcohol as an additive to diesel lowers the flash point of the fuel, which could lead to explosive mixtures.