Yes, in as much as condensation will not form on bathroom cladding because it is warm to the touch.
It will not stop condensation – the only way to eliminate condensation is to extract it, either by use of an extractor fan or using a dehumidifier, and bathroom cladding will help this process. If you have a condensation problem it can be worth hiring a dehumidifier for a few weeks to see how much moisture it extracts from the air in your property.