Magnets

Magnets are materials or devices that produce a magnetic field, exerting attractive or repulsive forces on other magnetic materials. They are fundamental components in a vast range of industrial, technological and consumer applications, from electric motors and generators to data storage, medical imaging and aerospace systems. Permanent magnets, which retain their magnetic properties without external power, are particularly critical in modern manufacturing and include ferrite, alnico and rare-earth varieties. Rare-earth magnets, notably neodymium-iron-boron (NdFeB) and samarium-cobalt types, offer the strongest magnetic fields and are essential in high-performance motors, wind turbines, electric vehicles, defence systems and advanced electronics. The production of high-strength magnets depends heavily on rare-earth elements such as neodymium, praseodymium, dysprosium and samarium, which are predominantly mined and processed in China. This concentration of supply has made magnets a focal point in global critical minerals strategies, as Western economies seek to secure domestic or allied sources to reduce dependency and safeguard supply chains for defence, aerospace and clean-energy technologies. Magnet manufacturing involves complex metallurgy, sintering and coating processes to achieve the required magnetic strength, temperature stability and corrosion resistance. Demand for high-performance magnets continues to grow with the expansion of electric mobility, renewable energy infrastructure and semiconductor-dependent industries. Recycling of end-of-life magnets and development of alternative magnet chemistries are active areas of research aimed at improving supply resilience and reducing environmental impact.