Australian, large-scale additive manufacturer, Titomic (ASX: TTT) has moved into a couple of new business verticals, pipes and valves.
The 3D printing company has received exclusive licences on patents from the CSIRO, that provide it with the technological smarts, to be able to 3D print pipes, much like a traditional manufacturing extrusion process. Valves are slightly different, but the patent allows them to enter that market too.
Titomic owns the world's largest 3D printing technology, using titanium powder to print large scale items, and has so far done market development in everything from the golf club to space industries, and many in between.
While not as sexy as making titanium bits for space ships, pipes and valves are worth more than $350 billion, as a total market.
In my interview with Managing Director Jeff Lang, we covered this new development, as well as their market-driven decision to alter their strategy, to include manufacturing parts for original equipment manufacturers.
Like Fastbrick Robotics (ASX:FBR), which recently changed their business plan to a 'wall for service' model, Lang said that the decision was driven by customer feedback. It seems some potential customers, preferred to have Titomic handle the manufacturing of equipment parts, rather than the cap ex heavy and potentially 'technologically complex' option of owning and running their own giant 3D robot printer.
- New revenue opportunities in global $88.4bn valve components market
- New revenue opportunities in global $264bn pipeline industry