Abstract
Permanent magnets are indispensable in modern technology. They form important components of many electromechanical and electronic components used in domestic and professional appliances. For instance, an average home contains more than fifty of such devices of which at least ten are in a standard family car. Magnetic resonance imaging used as a medical diagnostic tool is an example where large quantities of permanent magnets are used in professional appliances. Permanent magnet materials are furthermore essential in devices for storing energy in a static magnetic field. Major applications involve the conversion of mechanical to electrical energy and vice versa, or the exertion of a force on soft ferromagnetic objects. The applications of magnetic materials in information technology are continuously growing.
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