Colored Asphalt and Modified Emulsified Asphalt Colored asphalt, also known as colored binder material, is a type of road construction material. It is made by mixing color pigments with clear binder material, which is prepared from petroleum resins and other light-colored polymers. Colored asphalt concrete pavement refers to the mixture of decolorized asphalt with various specifications of aggregates and color pigments at a specific temperature.