No, it is not clearcoat. I can attest to this. It will bond to the plastic as well as the factory coating did, but it requires heat and UV rays to cure. If you spray this on, leave it inside to dry and check it 24 hours later, it will barely even be tacky. Put it out in hot sund for 4 hours and it is dry enough to drive home in the day. Should be ready for highway miles the following afternoon if you are depending on UV from the sun to cure. This product has much more UV blockers than clearcoat and it bonds better to the plastic lenses. If you really hate getting the right stuff because of expense or just want to try something different, there is another method we haven't mentioned yet and it works pretty well and has a fair amount of UV blockability.
Go to Lowe's or home depot and get UV marrine clear laquer and thinner. If you mix it 1/2 and 1/2 or equal parts, you can also yse this as a coating if applied with a shammy or something that will not leave lint etc. It to does well, but that method has not been tested as long or as much as the spray made for it. Wonderful stuff though.