K-TIG Ltd (ASX:KTG), Australia’s sole manufacturer and exporter of welding systems, has developed welding procedures for a globally in-demand high strength carbon steel, opening doors for the company to enter the global carbon steel market.
“A516 is one of the most commonly used carbon steels globally and particularly in the USA,” said K-TIG Managing Director Adrian Smith in an ASX Announcement released today.
As one of the most heavily used carbon steels in heavy industries, A516 Grade 70 Carbon Steel is used in manufacturing heavy duty components such as gas tanks, nuclear pressure shells and turbine volutes.
Adapted for single pass butt welding and multi pass welding using A516 material, K-TIG’s advanced welding technology has been independently verified and certified by American Society of Mechanical Engineers (ASME) standards.
“Demonstration of K-TIG achieving ASME Code certified welds is an exciting milestone that further expands the market opportunity for our technology,” added Smith.
Now certified, K-TIG has better opportunities to tap into the global carbon steel market, valued at USD 887.7 billion in 2019 – eight times the size of the stainless steel market.
K-TIG has targeted the carbon steel pipe and vessel market as entry points, investing USD 60 billion and USD 43 billion, respectively.
With the A516 welding procedures in place, K-TIG plans to accelerate the development of certified welding procedures for other carbon steels.
“This independently verified A516 steel result proves that K-TIG technology can be successfully sued to weld the many other carbon steels with similar chemistry that are prevalent in industry,” said Dr. Zhenyu Fei, K-TIG Manager of Welding Research and Development.