a method for producing a fast drying high solids adhesive and the adhesive composition are described herein whereby a water based polymer emulsion known as latex is modified with unemulsified plasticizing oils and reinforcing - tackifying resins , and a stable final emulsion of polymer , oil and resin is achieved without the use of additional emulsifiers or volatile organic solvents . the method takes advantage of the inherent solubility of the oils and resins in the polymer and of the emulsion - stabilizing effects of the selected resins , and the resultant product has excellent adhesive characteristics such as fast drying , improved water resistance , improved freeze resistance , high bond strength and no volatile organic compounds . additionally , the product of this invention is resistant to coagulation by nitrogen , pentane , chlorofluorocarbons and many similar products used as propellants in the production of internally pressurized canisters of adhesives generically known as aerosol adhesives , and thus , when packaged in pressurizable canisters along with a suitable propellant , the product of this invention may be sprayed through a suitable nozzle and deposited in a thin layer to form an adhesive film which has excellent bonding characteristics for many laminates such as fabric or textiles , wood , plastics , metals and rubber , and for adhering flooring materials such as carpet , linoleum , tiles and artificial grass to appropriate substrates such as wood , concrete and many others .