To provide an adhesive composition having a long open time, excellent operability and excellent sedimentation stability of an inorganic filler, enabling a paper tube to be produced in high productivity, rapidly exhibiting the initial adhesive force, and providing the paper tube having a dried film with high modulus, high hardness, and excellent water resistance, warm water resistance, boiling water resistance and heat resistance, and exhibiting a high strength of the paper tube even at high temperature in high humidity in high productivity while rapidly manifesting the initial adhesion.

The method for producing the adhesive composition involves mixing (A) a (meth)acrylic resin composition obtained by carrying out emulsion (co)polymerization of a (meth)acrylic monomer or the (meth)acrylic monomer and a monomer copolymerizable with the (meth)acrylic monomer, in the presence of a polyvinyl alcohol having a mercapto group at the molecular terminal as a protective colloid, and (B) a resin composition obtained by carrying out an aqueous solution polymerization of a carboxy group-containing unsaturated monomer in the presence of a polyvinyl alcohol and the inorganic filler.