Asphalt Product Manufacturers

The 567 Asphalt product manufacturers in the US produce asphalt and tar paving mixtures and blocks, asphalt shingles, roofing cements, and coatings. Asphalt paving mixtures and block account for more than half of industry revenue. Other key product categories include prepared asphalt and tar roofing and siding products and roofing asphalts and pitches, coatings, and cements.

Seasonality of Demand

The industry is subject to seasonal factors because road paving and roof installation activity occurs exclusively outdoors.

Material Cost Variability

The cost of asphalt, the primary material input to production for pavement and roofing products, is volatile and influenced by the trends in the global crude oil market.

Oct 5, 2026 - Highway Trust Fund Balance Falls

• The Federal Highway Administration reports that the Highway Account of the Highway Trust Fund closed August with about $42.3 billion, 39.5% below the prior-year level. Fiscal 2026 Highway Account outlays through August totaled about $51.5 billion, while net tax receipts were about $37.2 billion. The fund is a key source of federal support for highway construction, resurfacing, and related infrastructure projects. For asphalt product manufacturers, a smaller account balance could increase uncertainty surrounding future federal highway funding if lawmakers do not provide additional resources or enact a longer-term transportation measure. Any slowdown or disruption in federally supported road work could weaken demand for paving asphalt and related products, while continued funding would help sustain production volumes and order visibility for manufacturers serving highway contractors.
• Construction contractors are facing sharply higher diesel and material costs, according to Equipment World. Average US on-highway diesel reached $6.29 per gallon on September 14, up $2.55 from a year earlier, according to the US Energy Information Administration. Meanwhile, the producer price index for liquid asphalt increased 16.4% year over year in August. Higher fuel costs raise expenses for transporting raw materials and finished asphalt products, while more expensive liquid asphalt directly increases a major production input. For asphalt product manufacturers, these increases could squeeze margins when producers cannot fully pass higher costs to customers and may contribute to higher paving bids. Elevated project costs could also cause public agencies or private developers to delay, reduce, or reprioritize paving work, potentially affecting asphalt demand even as manufacturers contend with higher production and delivery costs.
• The National Asphalt Pavement Association says federal surface transportation programs have been extended through December 11, 2026, under Public Law 119-103 while lawmakers continue work on longer-term transportation funding. The short-term extension allows federal highway programs and related funding mechanisms to continue operating rather than expiring, helping states and contractors maintain near-term project activity. For asphalt product manufacturers, the extension supports continued demand tied to federally funded paving and roadway work in the coming months, but its limited duration creates uncertainty about project planning and funding beyond December. A longer-term reauthorization could provide manufacturers, contractors, and transportation agencies with greater visibility into future road spending, while additional temporary extensions or a funding lapse could complicate bidding schedules, production planning, and expectations for asphalt demand.
• According to Construction Dive, the US Department of Transportation awarded $1.73 billion in 2026 BUILD grants for 127 transportation projects, with $1.3 billion, or 77%, directed to roads and bridges. The funding, provided through the Infrastructure Investment and Jobs Act, also supports transit, ports, freight and passenger rail, truck parking, and aviation infrastructure. Demand far exceeded available funding, with nearly 1,200 applications requesting more than $14.5 billion. The emphasis on road and bridge improvements, including pavement upgrades and safety enhancements, could create additional bidding opportunities and strengthen project backlogs for the highway, street, and bridge construction industry.

Industry size & Structure

The average asphalt paving products manufacturer employs about 36 workers and generates about $40 million annually. The average asphalt roofing products manufacturer employs about 106 workers and generates about $147 million annually.

• The asphalt paving products manufacturing industry consists of about 463 firms that employ 16,755 workers and generate about $18.6 billion annually. The asphalt roofing product manufacturing industry consists of about 104 companies that employ about 11,075 workers and generate over $15.2 billion annually.
• Paving products account for about 55% of total industry revenue, while roofing products account for the remaining 45%. Paving product companies account for about 82% of the industry, while roofing products companies account for 18%.
• The industries are concentrated at the top; the top 50 asphalt paving product manufacturing companies account for 66% of industry revenue. The top 20 asphalt roofing product manufacturing companies account for 96% of industry revenue.
• Large firms that manufacture asphalt roofing products include Owens-Corning and GI-Holdings (GAF). Large firms that manufacture asphalt paving products include Vulcan Materials and Asphalt Materials. Amrize (formerly the North American operations of Holcim) manufactures asphalt roofing and paving products.
• The biggest firms are vertically integrated and produce complementary or related products, such as asphalt, construction aggregates (crushed stone, sand, gravel), concrete, metal roofing, or building insulation.