Abstract: A fire-retardant, fluid-resistant coating composition having enhanced bonding strength and increased aesthetic appeal. The composition, comprising from 3-4 parts of a liquid acrylic emulsion, from 1-2 parts of a liquid latex polymer suspension, from 1-3 parts of an adhesive material and from 1-2 parts of a gypsum-based powder, may be sprayed, brushed or rolled onto a variety of substrates. A coated product may also be produced by applying the coating composition to a substrate comprising a reinforcing material such as glass fibres so as to form sheets or laminates which may be rolled for transportation and storage with minimal danger of cracking, chipping or peeling. The composition may also be utilized to provide an adhesive bond by applying it to a surface of a first substrate and then contacting the coated surface with a second substrate while the composition is still viscous.