A neodymium magnet (also known as NdFeB, NIB or Neo magnet), the most widely used type of rare-earth magnet, is a permanent magnet made from an alloy of neodymium, iron and boron to form the Nd2Fe14B tetragonal crystalline structure. Developed in 1982 by General Motors and Sumitomo Special Metals, neodymium magnets are the strongest type of permanent magnet commercially available. They have replaced other types of magnet in the many applications in modern products that require strong permanent magnets, such as motors in cordless tools, hard disk drives and magnetic fasteners.
The tetragonal Nd2Fe14B crystal structure has exceptionally high uniaxial magnetocrystalline anisotropy (HA~7 teslas - magnetic field strength H in A/m versus magnetic moment in A.m2). This gives the compound the potential to have high coercivity (i.e., resistance to being demagnetized). The compound also has a high saturation magnetization (Js ~1.6 T or 16 kG) and typically 1.3 teslas. Therefore, as the maximum energy density is proportional to Js2, this magnetic phase has the potential for storing large amounts of magnetic energy (BHmax ~ 512 kJ/m3 or 64 MG·Oe). This property is considerably higher in NdFeB alloys than in samarium cobalt (SmCo) magnets, which were the first type of rare-earth magnet to be commercialized. In practice, the magnetic properties of neodymium magnets depend on the alloy composition, microstructure, and manufacturing technique employed.