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What FX those materials are using?

Recently I begun studying different UE4 assets from marketplace, and some of them caught my attention - they use some sort of effect that simulates volume (displacement, parallax or something like that). Video showing them:

https://www.youtube.com/watch?v=kOvssOKa-o0

I want to know what effect is this and how to reproduce it by myself (maybe also links to documentation and tutorials)