The Development of Rare Earth Based Permanent Magnets and Its Relation to The Development of Circular Economy

Permanent magnets are crucial materials for the development of electronics and telecommunications technology. During the early modern era, the development of permanent magnet materials focused on finding new materials to meet maximum energy product ((BH) Max ) criteria. Currently, rare earth-based alloy permanent magnet materials, such as samarium-cobalt and neodymium-iron-boron, are the most advanced permanent magnet materials and have superior magnetic properties compared to other magnetic materials. Research and development in permanent magnets currently focuses more on engineering existing magnetic materials to develop a sustainable and environmentally friendly rare earth permanent magnet production system, in order to realise a circular economy system in the permanent magnet industry.