Neodymium magnets (Nd-Fe-B) are composed of neodymium, iron, boron and a few transition metals, also known as NdFeB, NIB, or Neo magnet), the most widely used type of rare-earth magnet. Developed in 1982 by General Motors and Sumitomo Special Metals, neodymium magnets are the strongest type of permanent magnet made. They have replaced other types of magnet in the many applications in modern products that require strong permanent magnets.
Here is just some of the uses that we know our neodymium magnets have been put to: