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The increasing demand for water-based coatings as an alternative to high performance, solvent-based systems has generated a new technology of two-part, water-based coating formulations. This high performance, gray pigmented water-based coating provides outstanding durability, abrasion resistance, and high gloss retention without the toxicity and disposal associated with some solvent systems. Gray Perma Seal II also displays superb resistance to a wide variety of chemicals and solvents commonly found in industrial and commercial environments. When cured, this catalyzed epoxy emulsion exhibits characteristics rivaling those of solvent-based urethanes and epoxy coatings. This coating produces superior results when used on all concrete and ceramic surfaces. Aluminum oxide aggregate is available for broadcasting into Perma Seal II to substantially increase slip resistance properties.