I need to use a TRichEdit at runtime to perform the rtf to text conversion as discussed here. I succeded in doing this but I had to set a dummy form as parent if not I canno
This is part of the way the VCL works, and you're not going to get it to work differently without some heavy workarounds. But you don't need to define a dummy form to be the parent; just use your current form and set visible := false; on the TRichEdit.
If you really want to improve performance, though, you could throw out that loop you're using to build a result string. It has to reallocate and copy memory a lot. Use the Text property of TrichEdit.Lines to get a CRLF between each line, and DelimitedText to get somethimg else, such as spaces. They use an internal buffer that's only allocated once, which will speed up the concatenation quite a bit if you're working with a lot of text.