Chandler, Ariz. — Rogers Corp. expects its elastomers business to grow strongly over the next five years, driven by demand in the electric vehicle and consumer devices industries.
The unit anticipates "powerful tailwinds" in EV and next-gen electronic portables markets, said Brian Larabee, vice president and general manager of Rogers' Elastomeric Material Solutions (EMS).
The EMS unit, which supplies polyurethane-, silicone- and other polymer-based materials generated an adjusted operating profit of $71 million on sales of $420 million in 2022.
Portable electronics and EV represented respectively 18 percent and 11 percent of these revenues, with the lion's share provided by "general industrial" (51 percent) and "other EMS" (20 percent).
Highlighting growth potential in the EV battery sector, Larabee presented figures projecting a six- to seven-fold increase in industry-wide investment in battery technology to 2030 and 20 percent to 25 percent CAGR in unit sales to 2027.