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What are Neodymium Magnets?

Neodymium magnets (NdFeB) are the most powerful permanent magnets in the world and are composed predominantly of neodymium, boron and iron. The strength and affordability are the two characteristics that make them the most widely used magnets and generate a pull force of over to 850 times their own weight. This means a neodymium magnet weighing 3 grams can generate over 2,500g of pull force, much higher than its previous counterpart . Since the discovery of these rare earth magnets, technological innovation has lead to increasing demands with manufacturers producing an astonishing 50,000 tonnes every single year.