Asphalt Products Manufacturing Industry Profile

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 Boral Limited, Carlisle, and Owens Corning; segments of large construction products companies such as Compagnie de Saint-Gobain, CRH (Ireland), and LafargeHolcim; and segments of large refined petroleum product companies such as BP, Marathon Petroleum, and Valero.

The global asphalt market size is expected to reach over $370 million by 2032, exhibiting a compound annual growth rate (CAGR) of 5.1% during the forecast period (2024 to 2032), according to Straits Research. 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 $25 billion.

COMPETITIVE LANDSCAPE

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 ...