Asphalt Manufacturing in the US - Industry Market Research Report

Paved the way: Industry revenue will likely be aided by growing nonresidential construction activity

The Asphalt Manufacturing industry mainly produces paving and roofing materials, including asphalt and tar-paving mixtures and blocks, shingles, roofing cements and coatings. Industry performance is driven by three main factors: government spending in infrastructure, construction trends and the price of substitutes compared with asphalt. Overall, the cost of producing asphalt is somewhat volatile, since it's linked to the price of oil. Recent events, such as the COVID-19 pandemic and the Ukraine war, have resulted in higher levels of volatility within the asphalt manufacturing space and, as a result, affecting profit. In the past five years, industry revenue rose at a CAGR of 0.8% to $31.3 billion, including a 2.0% drop in 2023 alone.

Industry operators manufacture paving and roofing materials, including asphalt and tar-paving mixtures and blocks, shingles, roofing cements and coatings. These products are produced from purchased asphaltic materials, paper mats and felts. Operators do not refine the crude petroleum or produce the paper mats and felts that comprise industry products. Companies that conduct such services are included in the Petroleum Refining (IBISWorld report 32411) and Paper Mills (32212) industries.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.