The global modified bitumen market was valued at $13.22 billion in 2015 and is expected to reach $19.29 billion by 2021, witnessing a CAGR of 6.5% from 2016 to 2021, according to a recent report published by MarketsandMarkets. The market is driven by the increasing demand in the Asia-Pacific region, growing construction industry in emerging nations, and cost-effectiveness of modified bitumen. Road construction is one of the major modified bitumen markets in emerging and developed economies. The modified bitumen market is segmented into styrene-butadiene-styrene (SBS), atactic polypropylene (APP), crumb rubber, natural rubber and others by modifier type in the report. SBS is the largest segment of the modified bitumen market, in terms of volume and value, due to the material’s unique combination of properties making it useful across industries. Based on end-use industry, the report classifies the market into road construction, building construction, and others (waste & water management and industrial areas). Road construction is the fastest-growing end-use industry of the modified bitumen market in countries such as India, Vietnam, and Indonesia. By application method, the modified bitumen market is segmented into hot asphalt, cold asphalt, torch-applied, and others (mechanically fastened and self-adhering). Hot asphalt is the most widely used application method around the globe, as it provides firmness in summer heat and high penetration index which provides greater flexibility in colder temperatures. On the basis of region, the report segments the market into Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America. The Asia-Pacific region dominates the global modified bitumen market. The market in this region is projected to record high growth due to the rising demand from the construction industry. The demand for modified bitumen in North America and Europe is comparatively lower than that of Asia-Pacific because of the economic slowdown in these regions. Lack of awareness about the benefits of modified bitumen among potential industries of developing countries hinders the market growth, although the market is growing at a significant rate. The major players in the market include Sika AG (Switzerland), Nynas AB (Sweden), Total S.A. (France), Royal Dutch Shell Plc (The Netherlands), and Colas S.A. (France). They are anticipated to account for a significant market share in the coming years.