Possible to grow a material around an object from a specific point?

Is there a way to grow/transition between two material in the following way?

Youtube Link Here

I wish to throw a grenade at any object, and from the point of impact where the grenade hits the object, for a material to grow/transition around the object.

This is certainly possible, but depending on how/what you want to use it on could be complex. One option is to use a sphere mask like shown in this tutorial Force Field and Impact Effect - (UE4 Tutorial) - YouTube though this wouldn’t technically move Around the object. For something like that you will have to get into more complex painting with a render target, something more like this tutorial Unreal Engine 4: Real-Time Render Target Painting Tutorial - YouTube