asphalt vs paving material

asphalt and paving material both are nouns.

Word	Noun	Adjective	Verb	Adverb
asphalt	Yes	No	Yes	No
paving material	Yes	No	No	No

As nouns, paving material is a hypernym of asphalt; that is, paving material is a word with a broader meaning than asphalt:

asphalt: mixed asphalt and crushed gravel or sand; used especially for paving but also for roofing
paving material: material used to pave an area

Other hypernyms of asphalt include pavement, paving.

asphalt (noun)	paving material (noun)
a dark bituminous substance found in natural beds and as residue from petroleum distillation; consists mainly of hydrocarbons	material used to pave an area
mixed asphalt and crushed gravel or sand; used especially for paving but also for roofing

asphalt (verb)	paving material (verb)
cover with tar or asphalt