The magnetic and electrical characteristics of Ni-Mn quinary Heusler alloys are studied in the current work. The results concern the materials’ magnetic and electrical behavior. The physical property measurement system (PPMS) and superconducting quantum interference device (SQUID) were used at various magnetization levels to determine the results. The addition of Fe helps to form the alloy into a smart memory alloy with magnetocrystalline anisotropy, twin border mobility, and varied magnetic and martensite transition temperature characteristics. Character changes in the superparamagnetic (SPM) and paramagnetic (PM) alloys occur between 26 and 34 °C. The curves are supported by the alloy’s martensitic transition temperature change. A large refrigeration capacity is identified in the alloy. These properties are an indication of the alloys’ application prospects. Entropy change helps to detect the inverse magnetocaloric effect in the alloy, whereas adiabatic temperature change helps identify the origin and validity of reverse magnetic properties. The transition temperature changes occur when austenite’s sigma is larger than that of martensite, and as the magnetic field increases, the temperature declines. Isothermal magnetization curves, a large (MR)/B value at low and high magnetic fields, and temperatures near the transformation point suggest that small-crystal Heusler alloys have tremendous promise for low and high magnetic field magnetoresistance applications.
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