As the FP community has consolidated around Haskell, this usually refers to the Haskell feature set: Graph reduction, lazy semantics. Graph reduction is extremely imperative (see: spineless stackless g-machine), which makes it map well on a Von Neumann processor, but limits the amount of exploitable parallelism. Relying on lazy semantics also wrecks parallelism, because some evaluation branches cannot be visited ahead of time, without changing the program's semantics.
A functional language using eager semantics and string-reduction execution would map much better on, say, a parallel dataflow processor. Research in this direction got buried as parallel research money evaporated in the early 90's