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K-TIG (ASX: KTG) is poised to tackle the global US $ 800 billion carbon steel market after successfully developing welding procedures for the material.
Using its revolutionary keyhole welding technology, K-TIG has created welding processes for A516 grade 70 carbon steel, which is a high strength, low alloy steel plate used around the world for manufacture critical components for heavy industries.
It is used in industries such as petroleum, chemicals, and nuclear power to make heavy-duty components such as gas tanks, nuclear pressure shells, and turbine volutes.
To work with the carbon steel material, K-TIG has adapted its technology for single pass butt welding and multi pass welding using the A516 material.
The results have been independently verified and certified to the globally recognized standards of the American Society of Mechanical Engineers (AMSE).
K-TIG chief executive Adrian Smith said the A516 is one of the most commonly used carbon steels in the world, especially in the United States.
“Demonstrating that K-TIG achieves welds certified to the AMSE code is an exciting step that further broadens the market opportunities for our technology. “
Carbon steel market
AMSE certification paves the way for K-TIG to tap into the global carbon steel market.
K-TIG claims that the global carbon steel market is eight times the size of stainless steel and was valued at US $ 887.7 billion in 2019.
The market is expected to experience a compound annual growth rate of 3.4% between 2020 and 2027.
To secure entry into the large global market, K-TIG’s strategy is to enter the carbon steel pipe and vessel industries, which are approximately US $ 60 billion and US $ 43 billion, respectively. .
With the successful welding of the A516 material, K-TIG Welding Research and Development Director Dr Zhenyu Fei said the company will look to apply its technology to other carbon steels with similar chemistry. and which are also prevalent in industry.
According to K-TIG, the successful welding of A516 carbon steel is a “crucial step forward in bringing K-TIG’s advanced keyhole welding technology to market.”
Key Factory Automation Agreement
As part of its marketing plans, K-TIG has entered into a distribution agreement with the US supplier of automatic welding and robotics Key Plant Automation, followed by its first sale in the US nuclear dismantling sector.
As part of the agreement with Key Plant, the companies will establish a demonstration facility to showcase K-TIG’s revolutionary welding technology.
K-TIG claims that its technology welds up to 100 times faster than traditional processes and twice as fast as plasma welding.
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