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The "New" keyword is used in object-oriented programming languages like Java or C# to create new instances of objects. It is closely tied to the process of object instantiation which involves allocating memory for the object and calling its constructor to initialize its instance variables.

An object is an instance of a class; creating a new object is called instantiation. During this process, the following steps occur: 1. Memory is allocated to store the object and its instance variables. 2. The object's constructor is called, giving us control over the initial state of the object's instance variables. 3. The address of the allocated memory is returned and is typically assigned to a variable, which then holds a reference to the object.

To create a new instance of an object (instantiate), the "New" keyword is used along with the class name, followed by parentheses containing any necessary arguments to the constructor. Here's an example in Java: ```java Polygon myPolygon = new Polygon(); ``` In this example, `Polygon` is the class from which we want to create a new object. We use the "New" keyword, followed by the class name, and the object is instantiated. The reference to this newly created object is assigned to the variable `myPolygon`.

When using the "New" keyword, it's important to understand the role of constructors in object instantiation. A constructor is a special method defined within a class that has the same name as the class and is used to initialize the object's instance variables. When the "New" keyword is used to create a new object, the constructor is called. Constructors can take arguments, which can be passed using parentheses after the class name when using the "New" keyword. Here's an example with arguments in Java: ```java Person myPerson = new Person("John", 30); ``` In this example, the `Person` class has a constructor that takes two arguments - a string and an integer. When we instantiate a new `Person` object using the "New" keyword, we pass these arguments to the constructor to properly initialize the object. In summary, the "New" keyword plays an essential role in object instantiation in object-oriented programming languages by allocating memory for the object, calling the constructor, and returning the reference to the newly created object.