The inflation system of an air bag is not unlike a solid rocket booster. The air bag system ignites a solid propellant, which burns extremely rapidly to create a large volume of gas to inflate the bag. The bag then literally bursts from its storage site at up to 200 mph. A second later, the gas quickly dissipates through tiny holes in the bag, thus deflating the bag so you can move.
Even though the whole process happens in only one-twenty-fifth of a second, the additional time is enough to help prevent serious injury. The powdery substance released from the air bag is regular cornstarch or talcum powder. This substance is used by the air bag manufacturers to keep the bags pliable and lubricated while they're in storage.