A neodymium magnet a type of rare-earth magnet and was first developed in 1982 by General Motors Company or GM and Sumitomo Special Metals, Ltd. They are the strongest permanent magnets available, and are able to hold things which are more than one thousand times their own weight. It is also one of the most important and useful magnets.
Its crystal structure has exceptionally high uniaxial magnetocrystalline anisotropy which allows the compound the potential to have high coercivity. It also has a high saturation magnetization. Yet, the magnetic properties of neodymium magnets depend on the alloy composition, microstructure, and manufacturing technique employed.
These magnets can be dangerous or even cause fatal injury if not handled properly due to the forces they generate. The stronger magnetic fields are also found out to be hazardous to mechanical and electronic devices, because they are able to erase magnetic media devices like floppy disks, credit cards, magnetize watches, other clockwork mechanisms and shadow masks of CRT monitors at a certain distance.
Neodymium magnets have a lot of applications. Some examples of its applications are head actuators for computer hard disks, magnetic resonance imaging (MRI), magnetic guitar pickups, loudspeakers and headphones, synchronous motors, magnetic bearings and couplings, pindle and stepper motors, electric motors, cordless tools, servo motors, lifting and compressor motors, drive motors for hybrid, electrical power steering and electric vehicles.
It is also used in areas where magnets were not applied then. These include magnetic jewelry clasps, children’s magnetic building sets and as part of the closing mechanism of modern sport parachute equipment.