According to a recent market research report of Technavio, the global modified bitumen market will grow at a CAGR of above 6% between 2017 and 2021. The rise in building renovations and remodeling will be one of the primary drivers for the market’s growth. In addition to the demand for bitumen in road constructions, the market is also witnessing the growing demand for bitumen in building renovations and remodeling. With the rise in prices of houses increasing the global demand for repairing and remodeling houses, there will be a considerable increase in the demand for modified bitumen especially for roofing applications. Additionally, the rise in employment rates in countries such as India and China will also drive the demand for modified bitumen. One of the latest trends that will gain traction in the global modified bitumen market is the utilization of self-adhered products. Self-adhered products provide benefits like the ease of installation, solution for fire resistance, and are used as base sheets and cap sheets for waterproofing membranes. Furthermore,self-adhered modified bitumen membranes are also used to eliminate fumes during the construction of roofing applications and lower the odor emanating during the installation process. In terms of application, the modified bitumen market is segmented into road construction and building construction. The road construction segment dominated the modified bitumen market in 2016 and is expected to continue its dominance over the next four years. The rise in road construction activities around the globe especially in countries such as India will be the major factor propelling the demand for modified bitumen in this market segment during the forecast period. In terms of geography, the modified bitumen market is segmented into Americas, APAC, and EMEA. The Americas led the global modified bitumen market in 2016 and is anticipated to continue the domination during the forecast period. The growing demand for rubberized polymers with asphalt will drives the market’s growth in this region. In addition, the increased requirement for good-quality roads will also augment the markets’ growth prospects in the Americas. Colas, Nynas, Royal Dutch Shell, Sika, and Total are the major vendors in the market. Other prominent vendors include Saint-Gobain Weber, GAF, ExxonMobil, Dow Chemical, Rosneft, ORLEN Asfalt, W. R. Grace, Firestone Building Products, Fosroc, and Lagan.