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Sintered neodymium iron boron (NdFeB) magnets are the most powerful commercialized permanent magnets available today, with maximum energy product ranging from 24 MGOe to 55 MGOe. It has a combination of very high remanence and coercivity, and comes with a wide range of grades, sizes and shapes. With its excellent magnetic characteristics, abundant raw material and relatively low prices, NdFeB offers more flexibility in designing of new magnets or replacing the traditional magnetic materials such as ceramic, Alnico and SmCo to achieve high efficiency, low cost and more compact devices.