To provide an acrylic resin which is excellent in the adhesion to glass fibers and has flexibility, strength and a good heat cleanability.

A monomer (A) contg. an acrylic acid monomer and/or a methacrylic acid monomer (a), an acrylic acid monomer and/or a methacrylic acid monomer (b) having a hydroxyl group, and an acrylic acid monomer and/or a methacrylic acid monomer (c) having an ethylene oxide adduct and a monomer (B) having a difunctional divinyl type ethylene oxide adduct are polymerized in a wt. ratio of the component (A) to the component (B) in the range of (100:0.1) to (100:3.0) in the presence of an oleaginous radical reaction initiator in an alcohol or a mixed solvent composed of water and an alcohol, and the carboxylic acid is then neutralized with an alkali to improve the water solubility.