In the pavement industry, polymer modified asphalts (PMA) are used frequently in almost every part of the world, especially in developed countries. PMA exhibits better performance but requires high temperatures (150oC to 210oC) and extended mixing time (60 to 200 min) to develop homogenous blends. Furthermore, the mixing and compaction temperatures of hot mix asphalt (HMA) mixtures made with PMA are much higher than the conventional mixtures. The higher initial cost of modified asphalts in terms of material, energy, processing, and construction, limits its use in developing countries and in parts of developed countries. A viable option would be a cheaper modifier, bearing low cost of modification and exhibiting improvement in mechanistic and performance characteristics of asphalt binder.