Newark, Feb. 08, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 3 billion in 2022 global plasma powder market will reach USD 4.88 billion in 2032. As a byproduct of plasma technology, plasma powder is a specialized substance utilized in many sectors. Plasma arc cutting and plasma spraying are two methods used to produce plasma powder. The resulting powder has a high degree of purity, a finer particle size, and better hardness or thermal resistance. It's widely used to improve surface qualities, including wear resistance, corrosion resistance, and thermal insulation by coating them. Additionally, additive manufacturing (PAAM) uses it. It serves as a catalyst in chemical reactions, welding, and cutting. The value of plasma powder is found in its capacity to provide materials with certain desired qualities that suit them for particular uses. Because of its adaptability, it can be produced using various materials, opening up a wide range of uses in various industries. Two benefits of plasma process efficiency are reduced waste and increased overall production efficiency. Furthermore, the ability to modify the properties of the powder by adjusting the settings of the plasma processing guarantees that the material can fulfil particular needs for a range of uses.
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Key Insight of the Global Plasma Powder Market
North America will dominate the market during the forecast period.
Pet ownership is on the rise, and the need for premium pet food formulas is expanding along with the emphasis on optimal pet nutrition. There is a growing trend among pet owners to favour pet food containing plasma powder due to their greater understanding of the value of feeding their animals a balanced and nutritious diet. Furthermore, the increasing need for plasma powder in the local market results from its many uses in industries, including aquaculture and agriculture.
In 2022, the porcine segment dominated the market with the largest market share of 47% and market revenue of 1.41 billion.
The source segment is divided into porcine, bovine, ovine, and others. In 2022, the porcine segment dominated the market with the largest market share of 47% and market revenue of 1.41 billion.
In 2022, the animal feed segment dominated the market with the largest share of 46% and market revenue of 1.38 billion.
The application segment is divided into animal feed, food, pharmaceutical, and others. In 2022, the animal feed segment dominated the market with the largest share of 46% and market revenue of 1.38 billion.
Advancement in market
CAD 2.6 million orders for three additional plasma systems were placed with Tekna Holding ASA in Sherbrooke, Quebec, Canada. The clients in Asia, Latin America, and Europe intend to concentrate on research and development applications using the new equipment. Two TekSphero-15 and one TekSphero-40 plasma system are being ordered. From feedstocks consisting of 5-500 µm-sized crushed, atomized, and sponged powders, the machines generate spherical powder particles that are either metallic or ceramic. The TekSphero-40 is a pilot production unit designed to scale up powder production, while the TekSphero-15 is a compact spheroidization machine targeted at research and development applications.
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Market Dynamics
Driver: The expanding uses of plasma powder in several industries.
Industries like aerospace, automotive, industrial, and electronics use plasma powder. Creating more durable and reliable aircraft engines is aided by applying plasma powder for thermal barrier coatings on turbine components in the aerospace industry. Similarly, it is also applied in the automotive industry to improve the wear-resistant qualities of engine parts' coatings to prolong their lifespan. Moreover, plasma-cutting processes are used for welding, metal fabrication, and other purposes in industries like shipbuilding and construction, demonstrating their significance in these fields. Additionally, creating cutting-edge materials for the electronics and high-tech industries depends heavily on plasma powder. The growth and development of the worldwide plasma powder market throughout the forecast period will be driven by the industries' favourable growth and the ongoing development and acceptance of plasma powder.
Restraints: The elevated expenses associated with manufacturing.
The market's growth will be constrained by the high costs of manufacturing plasma powder since they affect the product's accessibility and production volume. The high initial costs associated with specialized machinery like reactors and plasma torches impede the market's expansion. High operating expenses are a result of the energy-intensive nature of plasma processes. The financial burden is increased by the high quality control and testing costs, which are necessary to guarantee product uniformity and conformance to industry standards. Thus, the high cost of plasma powder production will impede the expansion of the market.
Opportunities: The expanding efforts in research and development.
Research and development (R&D) activities will greatly increase the use of plasma powders, which will also increase demand. Improved particle size distribution and purity—two characteristics of the material attained via research and development—will create new opportunities for using plasma powder in many industries. The focus of R&D on improving plasma processing methods will result in higher production efficiency, lower energy usage, and less waste, raising the cost-effectiveness of plasma powders for various uses. Thus, throughout the projected period, the expanding R&D initiatives will fuel the expansion of the worldwide plasma powder market.
Challenges: Energy consumption concerns don’t align with sustainability.
Energy consumption challenges the plasma powder market as high temperatures are involved in production processes. The production process demands substantial electrical power, contributing significantly to operational costs. This high energy consumption poses economic challenges. Moreover, the environmental impact of the carbon footprint associated with energy-intensive processes raises sustainability concerns within the industry. Therefore, the high energy consumption concerns will challenge the market's growth.
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Some of the major players operating in the global plasma powder market are:
• ACTIPRO
• APC Company Inc.
• Darling Ingredients Inc. (Sonac)
• FeedStimulants
• IQI Petfood
• Lican Alimentos S.A.
• Merck KGaA
• Otto Chemie Pvt. Ltd.
• Rocky Mountain Biologicals LLC
• Shenzhen Taier
Key Segments covered in the market:
By Source
• Porcine
• Bovine
• Ovine
• Others
By Application
• Animal Feed
• Food
• Pharmaceutical
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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