Neodymium rare earth magnets have gained notoriety for being the strongest magnets in the world. Their high resistance to demagnetization also means that they are a permanent magnet, although the term permanent can be misleading. The magnetic properties are generally limited to a lifespan of around 10 years, and they can lose their properties through corrosion if they come into contact with water. Nevertheless, the intense strength and lightweight composition has made neodymium magnets ideal for both industrial and everyday purposes, including the more recent application in magnetic healing therapies.

Neodymium rare earth magnets are an invention, rather than a naturally occurring ore, with a joint effort by General Motors and Sumitomo Special Metals being credited with the discovery in 1982. Although termed a rare earth magnet, the neodymium, iron, and boron used to create the alloy are actually found in abundance, allowing the alloy to remain at low cost. Initially intended as an economical alternative to more expensive permanent magnets, the combination of low cost and long life had made neodymium magnets one of the most commonly used magnets in both industrial and everyday applications.

Generators are one of the most well known industrial applications for magnets, as electricity is produced when the coil inside the generator spins inside a magnetic field. This means that the stronger the magnet, the higher the voltage that is created, making the powerful neodymium rare earth magnets ideal for this purpose. The long life of the magnets increases their popularity, and the fact that even small magnets have incredibly strong magnetic properties has led to a wide range of applications outside of the industrial field. Today they are used virtually anywhere a magnet is needed, from creating latches on jewelry, purses, and cabinets to being placed in the oil pan of vehicle to remove metal shavings from the oil reserve.

One of the more modern uses of neodymium rare earth magnets is in magnet healing therapy. Magnet therapy has become a popular alternative to standard medical treatment, and it is based on the belief that the placement of a magnetic field on the body can reduce pain, increase blood flow, and encourage the natural healing process. The strong magnetic properties of neodymium magnets has made them particularly popular in magnetic therapy, and has led to the creation of a number of products that are thought to induce healing and maintain overall well-being. These include bracelets, rings, and insoles, as well as joint supports and bedding. There are even sleeping pads for pets that include a number of neodymium magnets to reduce pain and increase comfort.

Neodymium rare earth magnets were created as an economical alternative to other, more expensive permanent magnets, although the lightweight and long life of the magnets has led to a wide range of both industrial and every day applications. Magnet therapy is one of the most recent uses for neodymium magnets, as the strength of the magnetic properties are thought to increase the natural healing process of the body, making it a popular alternative to standard medicine when it comes to pain relief and healing. The versatility of neodymium rare earth magnets have made them one of the most practical inventions in modern times, with the number of applications for use making them common in nearly every household.

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