Plasma Powder Market Size is Expected to Reach $4.69 Billion by 2032
The plasma powder market encompasses the production, distribution, and application of powders produced through the plasma spray process. Plasma spray technology involves heating a feedstock material (usually a powder) to a molten or semi-molten state and propelling it onto a substrate using a high-temperature plasma jet. This process allows for the creation of coatings, thermal barriers, and functional surfaces with enhanced properties such as wear resistance, corrosion protection, thermal insulation, and electrical conductivity. The plasma powder market serves various industries, including aerospace, automotive, energy, healthcare, and electronics.
The plasma powder market size is expected to reach USD 4.69 billion by 2032, according to a new study by Polaris Market Research. The report “Plasma Powder Market Share, Size, Trends, Industry Analysis Report, By Source (Bovine, Porcine); By Application (Animal Feed, Food, Others); By Region; Segment Forecast, 2023 – 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Rising concerns regarding animal health have led to a surge in demand for protein-based animal feed, driving the growth of the market. According to OECD, the global meat supply is expected to reach 377 million tons by 2031, propelled by changing dietary habits and technological advancements in animal management Furthermore, the expanding livestock industry in low- and middle-income countries has resulted in health issues, increasing the demand for high-protein animal feed. The market is also benefiting from growing consumer awareness of animal feed protein ingredients, including their safety, quality, and suitability for future supplies.
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Increased awareness of the significance of high-quality protein feeds in pet diets, primarily in developed nations with high pet ownership rates and affluent pet owners, has driven up demand for such products. According to the 2021-2022 APPA National Pet Owners Survey, approximately 70% of households in the United States, or around 90.5 million homes, own at least one pet. Moreover, pet food manufacturers are catering to this demand by focusing on ingredient balance and texture to enhance flavor, especially for feline diets.
COVID-19 disrupted the plasma powder supply chain due to lockdowns and travel restrictions, resulting in a raw material shortage and delayed production. However, the pandemic also increased demand for home-based animal products and high-quality protein, leading to a rise in the market for plasma powder.
Companies are focusing on developing new and effective plasma powder from different animal sources to meet the increasing demand for plasma powder in various industries. In October 2022, Darling Ingredients plans to acquire Gelnex, a bovine collagen producer based in Brazil, for approximately USD 1.2 billion to expand its offerings and meet the growing demand for sustainable and natural ingredients in various industries. Similarly, in May 2022, Darling Ingredients Inc acquired Valley Proteins, a company that specializes in sustainable natural ingredients. This acquisition is intended to strengthen its business and expand its offerings of low-carbon intensity feedstocks.
However, there are some concerns about the use of plasma powder in animal feed. Some studies have suggested that it may increase the risk of transmitting diseases between animals, particularly if the plasma is not properly processed and sterilized. There are also concerns about the use of plasma from genetically modified animals or animals that have been treated with hormones or antibiotics.
Plasma Powder Market Report Highlights
- Porcine plasma powder segment is expected to hold the largest share due to its use in canned pet food products and the swine feed market.
- Animal feed segment is projected to grow significantly, driven by the rising demand for high-quality animal feed products.
- Asia Pacific market is expected to grow significantly due to growing awareness and interest in animal nutrition and high-quality protein-rich foods.
- Global players include ACTIPRO, APC, British Aqua Feeds, Darling ingredients, Feed Stimulants, and others.
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Polaris Market Research has segmented the Plasma Powder market report based on source, application, and region:
Plasma Powder, Source Outlook (Revenue, USD Billion, 2019 – 2032)
Plasma Powder, Application Outlook (Revenue, USD Billion, 2019 – 2032)
- Animal feed
- Poultry feed
- Swine feed
- Ruminant feed
Plasma Powder, Regional Outlook (Revenue – USD Billion, 2019 – 2032)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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