Strong growth expected for companies like Fuyao that make auto glass

A worker at Fuyao Glass America inspects a sheet of auto glass in this October 2016 photo. The number of workers at the Moraine plant is expected to reach 2,500 in coming months and could reach 3,000, Fuyao Global Chairman Cho Tak Wong said. THOMAS GNAU/STAFF

A worker at Fuyao Glass America inspects a sheet of auto glass in this October 2016 photo. The number of workers at the Moraine plant is expected to reach 2,500 in coming months and could reach 3,000, Fuyao Global Chairman Cho Tak Wong said. THOMAS GNAU/STAFF

A new report predicts the U.S. auto glass market — which is served by the Dayton area’s fastest growing manufacturer, Fuyao Glass America — is expected to grow at a healthy clip.

The automotive glass market is expected to grow more than $25.5 billion by 2022, growing at a compound annual growth rate of around 5.5 percent in that time, according to a report by Market Research Engine released Thursday.

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“Automobile glass may look and sense similar to the ordinary glass that is used on your home windows at home or any other type of glass, but it is significantly distinct,” said a statement attached to the report. “Car glass is designed and manufactured with safety in mind, it really works with your car’s shape as well as different protection features to hold occupants of the automobile as secure as possible.”

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Driving the market are expanding vehicle sales and production and the “rising application of glass” in passenger cars, the report said. But it identifies as a “restraining factor” the high price of “smart glass.”

Key players identified in the report include Nippon Sheet Glass Co., Ltd. and Asahi Glass Co., Ltd., both of Japan, Saint-Gobain S.A., of France and Fuyao Glass Industry Group Ltd., which owns Fuyao Glass America, which has plants in Moraine and Mount Zion, Ill.

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