1. Introduction of Clad Plate Used For Pressure Vessels Market Types
Segment by Type, the Clad Plate Used for Pressure Vessels can be split into Explosion Bonded Clad Plate, Roll Bonded Clad Plate, etc.
Explosion Bonded Clad Plate: Clad Plate Used for Pressure Vessels is completed through the Explosive Bonding manufacturing process, which is a metal forming technology. Explosive Bonding is a solid-state welding process that is used for the metallurgical joining of dissimilar metals. The process uses the forces of controlled detonations to accelerate one metal plate into another creating an atomic bond. Explosion bonding can introduce thin, diffusion inhibiting interlayers such as tantalum and titanium, which allow conventional weld-up installation. Also, explosive welding is considered a cold-welding process that allows metals to be joined without losing their pre-bonded properties.
Roll Bonded Clad Plate: Clad Plate Used for Pressure Vessels is processed through Roll bonding. Roll bonding is a method of producing roll-clad plates or sheets by hot rolling a welded composite of steel clad plate and a plate of a more corrosion-resistant material, such as stainless steel. The clad plate is produced by cleaning the two surfaces to be joined, which are then placed in contact. The edges of these plates are welded together to prevent air ingress and prevent the plates from moving during the hot rolling procedure. A solid-phase weld between the plates is achieved by furnace heating and then hot rolling.
2. Global Clad Plate Used For Pressure Vessels Market Revenue by Type
The global revenue for Clad Plate Used for Pressure Vessels from 2018 to 2023 shows a consistent upward trend with different growth rates for various types of clad plates. Explosion Bonded Clad Plate has seen a significant increase, starting from $518.49 million in 2018 to an estimated $601.10 million in 2023, reflecting its dominant position in the market. Roll Bonded Clad Plate also exhibits growth, though at a slightly lower rate, with revenue rising from $270.18 million in 2018 to $319.66 million in 2023. The ‘Others’ category, which includes other types of clad plates, has shown the most moderate growth, increasing from $48.56 million in 2018 to $57.64 million in 2023.
Table Global Clad Plate Used for Pressure Vessels Revenue (M USD) by Type (2018-2023)
2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
Explosion Bonded Clad Plate | 518.49 | 511.98 | 479.04 | 562.93 | 596.62 | 601.10 |
Roll Bonded Clad Plate | 270.18 | 266.09 | 249.68 | 296.17 | 315.99 | 319.66 |
Others | 48.56 | 48.23 | 45.03 | 53.47 | 56.95 | 57.64 |
Total | 837.24 | 826.30 | 773.75 | 912.57 | 969.56 | 978.40 |
Global revenue market share for Clad Plate Used for Pressure Vessels by type from 2018 to 2023 indicates a dynamic market with varying growth rates for different types of clad plates. Explosion Bonded Clad Plate has consistently held the largest market share, with 61.93% in 2018, slightly decreasing to 61. 44% by 2023, yet still dominating the market. Roll Bonded Clad Plate has also shown a strong presence, with a market share of 32.27% in 2018, increasing to 32.67% in 2023, demonstrating a growing demand。 The ‘Others’ category, which includes other types of clad plates, has a relatively smaller market share, but it has been steadily increasing from 5.80% in 2018 to 5.89% in 2023. This indicates that while the Explosion Bonded Clad Plate remains the primary revenue generator, the other types are also gaining ground, suggesting a diversifying market and potential for future growth in the use of different clad plate technologies.
Table Global Clad Plate Used for Pressure Vessels Revenue Market Share by Type (2018-2023)
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
Explosion Bonded Clad Plate | 61.93% | 61.96% | 61.91% | 61.69% | 61.53% | 61.44% |
Roll Bonded Clad Plate | 32.27% | 32.20% | 32.27% | 32.45% | 32.59% | 32.67% |
Others | 5.80% | 5.84% | 5.82% | 5.86% | 5.87% | 5.89% |
Total | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% |
3. Global Clad Plate Used for Pressure Vessels Market Production by Type
Global production of Clad Plate Used for Pressure Vessels by type from 2018 to 2023 indicates a steady increase in output across different types of clad plates. Explosion Bonded Clad Plate has maintained a significant share, with production volumes rising from 353.2 K Tons in 2018 to 397.2 K Tons in 2023, reflecting its importance in the market. Roll Bonded Clad Plate also shows a growing trend, with production increasing from 163.7 K Tons in 2018 to 192.1 K Tons in 2023, suggesting a growing adoption in various applications.
Overall, the data suggests a robust growth in the production of clad plates, with the Explosion Bonded variety leading the market, followed by Roll Bonded, and a consistent, albeit slower, growth in other types.
Table Global Clad Plate Used for Pressure Vessels Production (K Tons) by Type (2018-2023)
By Type | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
Explosion Bonded Clad Plate | 353.2 | 355.6 | 336.2 | 359.4 | 389.2 | 397.2 |
Roll Bonded Clad Plate | 163.7 | 166.3 | 158.6 | 171.0 | 186.4 | 192.1 |
Others | 29.1 | 29.6 | 28.1 | 30.3 | 33.0 | 34.0 |
Total | 546.0 | 551.5 | 522.9 | 560.7 | 608.6 | 623.3 |
Global production market share for Clad Plate Used for Pressure Vessels by type from 2018 to 2023 highlights the dominance of Explosion Bonded Clad Plate, which accounted for a significant percentage of the total production, with 64.69% in 2018 and slightly decreasing to 63.72% in 2023. This suggests that despite the presence of other types, the explosion bonded method is highly favored in the industry for its production of clad plates. Roll Bonded Clad Plate also holds a considerable share, with 29.99% in 2018, increasing to 30.82% in 2023, indicating a slight upward trend in its adoption. The ‘Others’ category, representing other types of clad plates, has a smaller but stable share in the market, fluctuating around 5% over the same period. This overall distribution suggests that while the market is primarily driven by the two main types of clad plates, there is room for niche products to find their application in specific industries.
Table Global Clad Plate Used for Pressure Vessels Production Market Share by Type (2018-2023)
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
Explosion Bonded Clad Plate | 64.69% | 64.48% | 64.30% | 64.09% | 63.95% | 63.72% |
Roll Bonded Clad Plate | 29.99% | 30.15% | 30.33% | 30.50% | 30.63% | 30.82% |
Others | 5.32% | 5.36% | 5.37% | 5.40% | 5.42% | 5.46% |
Total | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% |
4. Introduction of Clad Plate Used for Pressure Vessels Market Applications
Segment by Application, the Clad Plate Used for Pressure Vessels market can be sub-segmented into several major Application, like Boilers, Reactors, Storage tanks, Others, etc.
Boilers: A boiler is a device that transfers the heat energy released after burning fuel to the water in the container, so that the water reaches the required temperature (hot water) or steam. Boilers are often used in thermal power plants or other industrial and civil production.
Reactors: Reactor refers to a pressure vessel mainly used to complete physical and chemical reactions, such as reaction kettle, decomposition pot, vulcanization tank, gas generator, etc.
Storage tanks: Storage tanks refer to large containers mainly used to store and contain gas, liquid, liquefied gas and other media.
5. Global Clad Plate Used for Pressure Vessels Market Consumption by Application
Consumption value of boilers increased from $315.06 million in 2018 to $361.33 million in 2023. The value of reactors grew from $145.84 million to $175.63 million. Storage tanks saw an increase from $249.44 million to $293.20 million. In the “Others” category, the value rose from $200.95 million to $228.55 million. Overall, the consumption value in all application fields has increased, reflecting the continuous demand for clad plates used for pressure vessels in the market, providing support for the development of the industry. The differences in growth rates among different fields are affected by factors such as industry development trends, technological innovation, and market competition. For example, changes in the energy industry lead to variations in boiler demand, upgrades in chemical processes cause fluctuations in reactor demand, the development of logistics and warehousing drives adjustments in storage tank demand, and the emergence of emerging industries alters the demand pattern in other fields.
Table Global Clad Plate Used for Pressure Vessels Consumption Value (M USD) Growth Rate by Application (2018-2023)
2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
Boilers | 315.06 | 314.34 | 291.54 | 344.73 | 359.97 | 361.33 |
Reactor | 145.84 | 146.35 | 137.01 | 163.61 | 172.50 | 175.63 |
Storage tank | 249.44 | 249.75 | 232.18 | 276.55 | 289.93 | 293.20 |
Others | 200.95 | 199.50 | 182.02 | 216.56 | 226.68 | 228.55 |
Total | 911.31 | 909.94 | 842.75 | 1001.45 | 1049.07 | 1058.70 |
Consumption of boilers steadily increased from 179.3 kilotons in 2018 to 201.7 kilotons in 2023, occupying a significant share in the market. The consumption of reactors rose from 80.3 kilotons to 95.0 kilotons, demonstrating a stable upward trend in demand. The consumption of storage tanks grew from 168.6 kilotons to 194.6 kilotons, reflecting the continuous expansion of the demand for clad plates in this field. The consumption in other applications climbed from 113.8 kilotons to 127.2 kilotons, indicating the growth of diversified demands. Overall, the consumption in all application fields showed an upward trend, fully demonstrating the continuously strong market demand for clad plates used for pressure vessels globally. The dependence of various industries on them is constantly increasing, injecting strong impetus into the vigorous development of this industry. It also indicates that there are broad expansion opportunities in the future market.
Table Global Clad Plate Used for Pressure Vessels Consumption (K Tons) by Applications (2018-2023)
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
Boilers | 179.3 | 183.0 | 171.8 | 185.8 | 198.1 | 201.7 |
Reactor | 80.3 | 82.5 | 78.2 | 85.4 | 92.0 | 95.0 |
Storage tank | 168.6 | 172.8 | 162.6 | 177.2 | 189.7 | 194.6 |
Others | 113.8 | 115.7 | 106.8 | 116.3 | 124.3 | 127.2 |
Total | 542.0 | 553.9 | 519.4 | 564.8 | 604.0 | 618.5 |
