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Two-part water-based adhesive for instrument crash pad vacuum forming was developed. It uses a self-emulsification type of urethane emulsion which does not contain any organic solvents as its main ingredient. And, a number of additives which are effective in improving adhesion to both an injection molded acrylonitrile-butadiene-styrene (ABS) foundation and the PVC/PPF skin have been blended in this urethane emulsion. So, this water-based adhesive has excellent initial adhesive properties, reliable durability and mass productivity which are all required of adhesives for instrument crash pad applications.