I am not positive since I have never used it myself and the label doesn't say. On the other hand it is paintable, and the asphalt kind is not, so I would think it doesn't contain asphalt. I would buy a can and test it under the truck somewhere to see how it acts and how it dries. In my opinion no ones recommendation is better than personal knowledge especially when that knowledge only costs a couple of bucks and five minutes of work.