Asphalt emulsions and methods of forming an asphalt emulsion are provided. In one example, the asphalt emulsion includes a base asphalt component present in an amount of from about 40 to about 60 wt. % of the asphalt emulsion. Water is present in an amount of from about 40 to about 60 wt. % of the asphalt emulsion. An oxidized high-density polyethylene wax is present in an amount of from about 0.5 to about 5.0 wt. % of the asphalt emulsion. A slow-setting cationic emulsifier is present in an amount of from about 1.0 to about 2.0 wt. % of the asphalt emulsion.