$33.9bn
$X.Xbn
27,569
558
$X.Xbn
The industry mainly produces paving and roofing materials, including asphalt and tar-paving mixtures and blocks, shingles, roofing cement and coatings. Industry performance is driven by three main factors: government spending on 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. Within the past five years, events such as the COVID-19 pandemic and the Ukraine war have resulted in higher levels of volatility within the asphalt manufacturing space, affecting profit. Overall, industry revenue rose at an expected CAGR of 2.0% to $33.9 billion, including a 1.9% drop in 2024 alone.
Industry revenue has grown at a CAGR of 2.0 % over the past five years, to reach an estimated $33.9bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
CRH PLC | 5,697.1 | 672.7 | 11.8 | |
Owens Corning | 3,936.4 | 726.6 | 18.5 | |
Vulcan Materials Company | 1,074.7 | 258.0 | 24.0 |
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Industry revenue is measured across several distinct product and services lines, including Asphalt paving mixtures and blocks, Roofing asphalts and pitches, coatings and cements and Prepared asphalt and tar roofing and siding products. Asphalt paving mixtures and blocks is the largest segment of the Asphalt Manufacturing in the US.
Smooth driving with paving mixtures and blocks
Industry operators manufacture paving and roofing materials, including asphalt and tar-paving mixtures and blocks, shingles, roofing cement and coatings. These products are produced from purchased asphaltic materials, paper mats and felts. Operators don't 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.
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NAICS 32412 - Asphalt Manufacturing in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
High interest rates have postponed new construction projects. The cost of construction slowed its rapid growth in 2023, and interest rate cuts are expected to begin in 2024, ...
Learn about an industry's products and services, markets and trends in international trade.
Asphalt is the preferred material for pavement. Highways and roads across the country primarily use asphalt pavement for its competitive cost and durability.
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Hot asphalt can't travel far, so manufacturers prioritize proximity to populated areas with active construction projects. This ensures timely delivery and maintains asphalt q...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Proximity is key in the asphalt manufacturing industry. Plants near densely populated areas experience higher demand. This is due to increased infrastructure and construction...
Learn about the performance of the top companies in the industry.
The industry is highly fragmented, with the largest company making up less than 15.0% of industry revenue. Owens Corning has achieved growth through a high number of acquisit...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Federal infrastructure funding drives demand for asphalt. The Infrastructure Investment and Jobs Act, which includes highway funding, is set to last through 2026.
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Lower construction activity brings down profit. Increasing interest rates and a lower need for nonresidential construction projects have caused a dip in profit.
Including values and annual change:
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Key data sources in the US include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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The market size of the Asphalt Manufacturing in the US industry in United States is $33.9bn in 2024.
There are 558 businesses in the Asphalt Manufacturing in the US industry in United States, which has declined at a CAGR of 0.5 % between 2019 and 2024.
The market size of the Asphalt Manufacturing in the US industry in United States has been growing at a CAGR of 2.0 % between 2019 and 2024.
Over the next five years, the Asphalt Manufacturing in the US industry in United States is expected to grow.
The biggest companies operating in the Asphalt Manufacturing market in United States are CRH PLC, Owens Corning and Vulcan Materials Company
Asphalt paving block manufacturing and Asphalt paving mixtures manufacturing are part of the Asphalt Manufacturing in the US industry.
The company holding the most market share in United States is CRH PLC.
The level of competition is moderate and steady in the Asphalt Manufacturing in the US industry in United States.