- K-TIG (KTG) shares are in the green as it is set to enter the carbon steel market, significantly growing its addressable market
- The company has successfully developed welding procedures for A516 grade 70 carbon steel, a high strength, low alloy material
- Notably, the technology is up to the American Society of Mechanical Engineers standards
- The global carbon steel market is worth US$800 billion (around A$1 trillion), which is eight times the size of the stainless steel market
- On the market this afternoon, KTG is up 6.45 per cent and trading at 49.5 cents per share
K-TIG (KTG) is set to enter the carbon steel market, significantly growing its addressable market.
The company has successfully developed welding procedures for A516 Grade 70 Carbon Steel, a high strength, low alloy material.
The steel is used globally as a critical components in heavy industries, such as the petroleum, chemical and nuclear energy sectors, to make components such as gas tanks, nuclear pressure shells and turbine volutes.
KTG’s most advanced keyhole welding technology was adapted for single-pass butt welding and multi-pass welding.
Notably, the technology has been verified and certified to the American Society of Mechanical Engineers (ASME) standards.
“A516 is one of the most commonly used carbon steels globally and particularly in the USA,” Managing Director Adrian Smith.
“Demonstration of K-TIG achieving ASME Code certified welds is an exciting milestone that further expands the market opportunity for our technology,” he added.
The technology opens up the opportunity for KTG to tap into the global US$800 billion (around A$1 trillion) market for carbon steel, which is eight times the size of the stainless steel market.
On the market this afternoon, KTG is up 6.45 per cent and is trading at 49.5 cents per share at 1:21 pm AEDT.