Rogers expects elastomers unit to be driven by EV batteries, consumer devices

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.

On the back of these trends, Rogers anticipates significantly increasing demand for its materials technologies, driven by stricter safety regulations for EVs and evolving designs.

Current EV battery applications for Rogers' elastomers include environmental seals, "pouch & prismatic" cell pads and cooling plate spring pads.

In the portable electronics market, Rogers sees its role expanding due to the increasing compact designs and new "form factors" such as foldable designs, Larabee added.

Furthermore, he said, advanced elastomer materials will be required for the protection of the increasingly sophisticated devices, preventing moisture and dust ingress as well as sound leakage.