No. It is waterbased and uses some sort of synthetic molecult to pull the iron out of rust. The iron there is weakly held, but the iron in the underlying steel is more stongly held. Evapo-Rust won't pull the oron out of un-corroded steel. So it just pulls off the rust. You do need to oil or wax right away after treatment.
It works better when warmer. Manufacturer recommends 60 degrees or warmer. Pour the solution back into the jug after treating. A gal wll treat for a long time. Pitch it when it no longer will pull off the rust.
I use it indoors. No fumes or hazmat aspect.