PURPOSE: The titled adhesive having improved heat resistance, water resistance and rigidity, comprising a specific cured phenolic resin, a specific modified polyolefin and an unmodified polyolefin as main components.

CONSTITUTION: The aimed adhesive comprising (A) a granular cured phenolic resin containing a reactive methylol group in the molecule, (B) a modified polyolefin wherein a polyolefin (preferably PP) is partially or totally grafted with one or more monomers selected from an unsaturated carboxylic acid (e.g., maleic anhydride, etc.,) and its derivative and (C) an unmodified polyolefin as main components. 5W20wt% component A is preferably blended with 5W30wt% component B and 10W50wt% component C.