Controlled release of additives and adhesives at the right place and the right time is a key functionality that can be provided by microencapsulation technology. A timely and targeted release improves the effectiveness of additives and adhesives, broadens their application range, and ensures optimal dosage, thereby improving cost-effectiveness for the adhesive manufacturer. Reactive, sensitive, or volatile additives (catalysts, prepolymers, solvents, antioxidants, preservatives, adhesion promoters, biocides, flame retardants, dyes, etc), as well as the total formulation of the adhesive, can be turned into stable ones through microencapsulation. With carefully fine-tuned controlled release properties, microencapsulation is no longer just an added value technique, but the source of totally new products with matchless properties. Nevertheless, although it offers great potential in the adhesive and sealants industry, very little development has been carried out to date in this field. Therefore, the aim of the present literature review paper is to present microencapsulation technique as an interesting option for the adhesive industry as its application can transform traditionally used adhesives into smart or multifunctional ones.