A computational investigation using a unique model and a solution algorithm was conducted, changing only the saturation pressure of one material artificially during nanopowder formation in thermal plasma fabrication, to highlight the effects of the saturation pressure difference between a metal and silicon. The model can not only express any profile of particle size–composition distribution for a metal–silicide nanopowder even with widely ranging sizes from sub-nanometers to a few hundred nanometers, but it can also simulate the entire growth process involving binary homogeneous nucleation, binary heterogeneous co-condensation, and coagulation among nanoparticles with different compositions. Greater differences in saturation pressures cause a greater time lag for co-condensation of two material vapors during the collective growth of the metal–silicide nanopowder. The greater time lag for co-condensation results in a wider range of composition of the mature nanopowder.