Chan Ye Xin Xi Wang·2025-08-19 01:16Industry Overview - The stainless steel composite plate is formed by metallurgical bonding of carbon steel base and stainless steel cladding, combining the mechanical strength of carbon steel and the corrosion resistance of stainless steel, widely used in petroleum, chemical, coking, and power equipment manufacturing [3][11] - The industry has seen significant growth, with the market size in China expected to increase from 9.5 billion yuan in 2019 to 17.95 billion yuan in 2024, representing a compound annual growth rate (CAGR) of 13.57% [17][20] Industry Development History - The development of the stainless steel composite plate industry in China began in the 1960s, initially dominated by explosive composite technology, with production scale and application range limited by technology and equipment conditions [8] - The industry entered a rapid development phase after 2015, with over 40 domestic companies capable of production, and products widely used in chemical, energy, and marine engineering sectors [8][20] Industry Chain - The upstream of the stainless steel composite plate industry includes raw materials and equipment, such as carbon steel and stainless steel, while the midstream involves the production and manufacturing processes [10] - The downstream applications encompass various sectors, including petroleum and chemical, food processing, construction, and transportation [10] Market Demand and Supply - The demand for stainless steel composite plates in China is projected to grow from 520,000 tons in 2019 to 840,000 tons in 2024, with a CAGR of 10.07% [16] - The stainless steel crude steel output in China is expected to reach 39.44 million tons in 2024, a year-on-year increase of 7.54% [11][14] Key Companies - Major players in the industry include Nanjing Steel, Taiyuan Iron and Steel, and specialized companies like Tianli Composite and Baotai Group, which focus on high-end applications and technological innovation [20][21][24] - The competitive landscape is characterized by a mix of large state-owned enterprises and specialized composite material companies, with a focus on technology and product differentiation [20] Industry Trends - The industry is moving towards high performance, with advancements in material composition and composite technology to meet the stringent demands of high-end manufacturing [26] - Efficiency improvements are a core focus, with the adoption of advanced processes like continuous rolling and automated production lines to reduce costs and production cycles [27] - Environmental trends are pushing the industry towards green manufacturing, with a shift to low-energy consumption processes and recyclable materials [28]