Elastic wave propagation in a bounded medium significantly differs from that in an unbounded medium. The bounded medium in the form of a cylinder acts like a solid waveguide directing the wave with its geometry. A continuous or a pulsed wave interacts with cylindrical boundaries producing mode-converted signals in addition to the backwall echo. The signals are received at constant time Intervals directly proportional to the diameter of a solid cylindrical object such as a bolt or an anchor stud. The Cylindrically Guided Wave Technique (CGWT) makes intelligent use of the mode-converted signals, or trailing pulses, to detect corrosion wastages in cylindrical objects.