Plasma Powder Market

Plasma Powder Market Size by Source (Porcine, Bovine, Ovine, and Others), Application (Animal Feed, Food, Pharmaceutical, and Others), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032

Base Year: 2023 Historical Data: 2019-21
  • Report ID: TBI-14013
  • Published Date: Jan, 2024
  • Pages: 237
  • Category: Chemicals & Materials
  • Format: PDF
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The global plasma powder market was valued at USD 3 billion in 2022 and grew at a CAGR of 5% from 2023 to 2032. The market is expected to reach USD 4.88 billion by 2032. Given the rising rate of pet adoption, the increasing demand for pet food will drive the growth of the global plasma powder market.

Market Introduction:

Plasma powder, a product of plasma technology, is a specialized material used across various industries. The manufacturing process of plasma powder involves techniques such as plasma spraying and plasma arc cutting. The resultant powder is of fine particle size and high purity and has increased hardness or enhanced thermal resistance. It is widely used to create surface coatings, enhancing properties such as wear resistance, corrosion resistance, and thermal insulation. It is also employed in additive manufacturing (PAAM). It is used in welding and cutting and as a catalyst in chemical processes. The significance of plasma powder lies in its ability to confer unique and desirable properties to materials, making them suitable for specific applications. Its versatility allows for production from various materials, enabling diverse applications across industries. The efficiency of plasma processes contributes to reduced waste and improved overall production efficiency. Moreover, the customization of powder properties through controlled plasma processing parameters ensures that the material can meet specific requirements for various applications.

Plasma Powder Market Size

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Recent Development
  • To produce Ingredient Optimised Protein (ioProtein), U.S. company Plasma Nutrition, specialising in cutting-edge consumer goods, and Mumbai-based Supriya Lifescience inked a memorandum of understanding. As part of the strategic relationship, Supriya Lifescience will receive exclusive rights to manufacture and commercialise ioProtein in India through an exclusive technology licencing deal.

Market Dynamics:

Drivers

The growing applications of plasma powder across industries – Plasma powder is used in the aerospace, automotive, manufacturing, and electronics industries. Using plasma powder for thermal barrier coatings on turbine components in aerospace to enhance durability and performance contributes to developing more efficient and resilient aircraft engines. Similarly, it is also used in the automotive sector to enhance the wear-resistant properties of coatings on engine components to extend their lifespan. Furthermore, plasma-cutting processes are utilized for welding, metal fabrication, and others in sectors like construction and shipbuilding, which indicates its importance in these sectors. Plasma powder is also integral in producing advanced materials for electronics and high-tech industries. The continual development and adoption of plasma powder across these industries and their positive growth will drive the global plasma powder market's growth and development during the forecast period. 

Restraints:

The high costs of production The high costs associated with plasma powder manufacturing will limit the market’s growth as it impacts both the scale of production and the market accessibility of plasma powder. The substantial upfront investments in specialized equipment, such as plasma torches and reactors, hinder the market’s growth. The energy-intensive nature of plasma processes contributes to elevated operational costs. High costs associated with quality control and testing to ensure product consistency and adherence to industry standards add to the overall financial burden. Therefore, the high costs of plasma powder production will hamper the market’s growth.

Opportunities:

The growing research and development initiatives Research and development (R&D) efforts in plasma powders will significantly expand their applications and bolster demand. Enhanced material properties achieved through R&D, such as improved particle size distribution and purity, will open new possibilities for plasma powder application across industries. R&D's focus on optimizing plasma processing techniques will increase production efficiency, reduce energy consumption, and minimise waste, making plasma powders more cost-effective for various applications. Therefore, the growing research and development initiatives will propel the global plasma powder market's growth during the forecast period.

Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the most significant global plasma powder market, with a 41% market revenue share in 2022.

A significant rise in pet ownership, with a growing emphasis on optimal pet nutrition, has propelled the demand for high-quality pet food formulations. Pet owners' awareness of the importance of providing pets with well-rounded and nutritious diets has led to an increased preference for pet food containing plasma powder. Additionally, the diverse applications of plasma powder in sectors such as agriculture and aquaculture add to the growing demand for plasma powder in the regional market.

North America Region Plasma Powder Market Share in 2022 - 41%

 

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  • The USPTO has granted a patent (US 11839918) to PyroGenesis Canada Inc. This high-tech company designs, develops, and markets sustainable solutions and advanced plasma processes to address environmental pollutants and reduce greenhouse gas emissions. The patent is for PyroGenesis's NexGen plasma atomization powder. This U.S. patent covers the company's NexGen plasma atomization technique for creating metal powder for use in additive manufacturing. It is named "Method and Apparatus for Producing High Purity Spherical Metallic Powders at High Production Rates From One or Two Wires." The patent, in particular, outlines the novel features of the NexGen system that may lead to increased and more effective production rates.
Source Segment Analysis

The source segment is divided into porcine, bovine, ovine, and others. The porcine segment dominated the market, with a market share of around 47% in 2022. Porcine plasma is derived from pigs and serves as a plasma powder source. It is extracted from pig blood, processed, and then transformed into powdered. Porcine plasma powder is preferred for its nutritional richness, functional properties, and potential therapeutic benefits. Producers utilize it in formulating nutritional products, including animal feeds and pet food, enhancing their protein content and quality. Due to its bioactive components, the pharmaceutical sector also uses porcine plasma powder for medical formulations. Rigorous quality control ensures the safety and suitability of porcine plasma for diverse applications.

Application Segment Analysis

The application segment is divided into animal feed, food, pharmaceutical, and others. The animal feed segment dominated the market, with a market share of around 46% in 2022. Plasma powder is extensively used in pet food due to its nutritional richness and functional benefits. Its high-quality proteins and digestive health support make it a valuable ingredient. As pet adoption rates surge, contributing to the increasing number of pets worldwide, pet food demand has risen significantly. The widespread availability of pet food fortified with plasma powder plays a crucial role in meeting pets' nutritional needs. With the growing awareness of the importance of pet nutrition, the demand for high-quality pet food containing plasma powder continues to rise. Similarly, the increasing awareness about animal feed for domesticated animals in the primary sector of the economy will bode well for the animal feed segment's continued dominance in the market.

Some of the Key Market Players:
  • 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

Report Description:

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2022 USD 3 Billion
Market size value in 2032 USD 4.88 Billion
CAGR (2023 to 2032) 5%
Historical data 2019-2021
Base Year 2022
Forecast 2023-2032
Region The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East and Africa. Furthermore, the regions are further analyzed at the country level.
Segments Source and Application

Frequesntly Asked Questions

As per The Brainy Insights, the size of the global plasma powder market was valued at USD 3 billion in 2022 to USD 4.88 billion by 2032.

Global plasma powder market is growing at a CAGR of 5% during the forecast period 2023-2032.

The market's growth will be influenced by the growing applications of plasma powder across industries.

The high costs of production could hamper the market growth.

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This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global plasma powder market based on below mentioned segments:

Global Plasma Powder Market by Source:

  • Porcine
  • Bovine
  • Ovine
  • Others

Global Plasma Powder Market by Application:

  • Animal Feed
  • Food
  • Pharmaceutical
  • Others

Global Plasma Powder Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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