Abstract: Holtmelt adhesive compositions based on a mixture of at least one reactive binder and at least one non-reactive binder are useful as one- or two-part adhesives and/or sealants particularly in the production of multiple glazing systems. The reactive binder may be a polyisobutylene, hydrogenated polybutadiene and/or poly-&agr;-olefin which has been functionalized with silane groups. The non-reactive binder may be a butyl rubber, poly-&agr;-olefin, polybutene, styrene block copolymer and/or a diene or homopolymer. The adhesive compositions act as both a spacer and as a matrix for the moisture-absorbing substances employed in multiple glazing applications, forming an elastic bond or seal at the edges of the glass layers.