An induction thermal plasma system have been newly designed for advanced operation with a pulse modulated mode to control the plasma power in time domain and to create non-equilibrium effects such as fast quenching of the plasma to produce new functional materials in high rate. The system consists of MOSFET power supply with a maximum power of 50 kW with a frequency of 460 kHz, an induction plasma torch with a 10-turns coil of 80 mm diameter and 150 mm length and a vacuum chamber. The pulse modulated plasma was successfully generated at a plasma power of 30 kW and a high pressure of 100 kPa, with taking the on and off time as 10 ms, respectively. Measurements were carried out on the time-dependent spectral lines emitted from Ar species. The dynamic behavior of plasma temperature in a pulse cycle was estimated by the Boltzmann plot and the excitation temperature of Ar atom was found to be changed periodically from around 0.5 to 1.7 eV during the cycle. Two application regions of the induction thermal plasma newly generated were introduced to material processing with high rate synthesis based on non equilibrium effects, and to the finding of new arc quenching gases coming necessary for power circuit breaker, which is friendly with earth circumstance alternative to SF6 gas.