North America Equity Research 06 August 2026 J P M O R G A N Carbon Black Tread Carefully The carbon black companies are likely to experience a year of contracting earnings in 2026 because of lower carbon black prices in the US and European tire markets stemming from loose supply/demand balances. Demand in the US light vehicle tire market appears to be again decreasing at a low-single digit rate in 2026. But there are green shoots. Specialty Black volumes serve the wire and cable markets, which are benefiti ...