What are neodymium magnets?

Neodymium magnets are a member of the Rare Earth magnet family and are the most powerful permanent magnets in the world. They are also referred to as NdFeB magnets, or NIB, because they are composed mainly of Neodymium (Nd), Iron (Fe) and Boron (B). They are made from an alloy of neodymium, iron and boron to form the Nd2Fe14B tetragonal crystalline structure.

Neodymium magnets were developed in 1982 by General Motors and Sumitomo Special Metals. Neodymium magnets are the strongest type of permanent magnet commercially available and they have replaced other types of magnets in the many applications in modern products that require strong permanent magnets, such as motors in cordless tools, hard disk drives and magnetic fasteners.