Asphalt Products Manufacturing
Companies in this industry manufacture asphalt and tar mixtures for paving and blocks, as well as asphalt shingles, roofing cements, and coatings. Major companies include building materials manufacturers such as Owens Corning, Carlisle, and Boral Limited; segments of large construction products companies CRH (Ireland), LafargeHolcim, and Compagnie de Saint-Gobain; and segments of large refined petroleum product companies such as BP, Marathon Petroleum, and Valero.
Global asphalt production is expected to grow about 4% by 2025, from $84 billion in 2017, according to Global Market Insights. Growth in demand for asphalt is strongest in the Asia/Pacific region, particularly China and India. Asphalt is often referred to as bitumen, petroleum bitumen, or asphaltic bitumen outside North America.
The US asphalt products manufacturing industry includes about 1,600 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $22 billion.
Demand is determined primarily by the availability of government road-building funds and nonresidential and residential construction activity. The profitability of individual companies is strongly dependent on efficient operations. Large companies enjoy economies of scale in purchasing and the ability to invest in technologies that improve efficiency. Small manufacturers can compete through superior customer service and by serving small or rural markets. The US industry is concentrated: the top 50 companies account for about 70% of industry revenue.
Because of the high cost of transportation relative to the value of the goods, trade in asphalt products is limited. Imports and exports of asphalt paving mixtures each account for about 2% of US production. Canada is the primary trade partner for US asphalt mix.
Products, Operations & Technology
Major products include asphalt paving mixtures and asphalt blocks (about 55% of industry revenue), and roofing and saturated materials (about 45%). Asphalt
Sales & Marketing
Finance & Regulation
Regional & International Issues
Also includes the following chapters:
Quarterly Industry Update
Trends and Opportunities
Call Preparation Questions
Glossary of Acronyms