Bonded permanent magnets: Current status and future opportunities (invited)

Permanent magnets play a vital role in modern society as a component in a wide range of devices utilized by many industries and consumers. In 1995, the world production of permanent magnets was estimated to be valued at $3.6 billion and growing at an annual rate of 12%. Bonded permanent magnets are the fastest growing segment of this market. Bonded magnet technology enables a wide variety of magnetic powders to be combined with several polymer and binder systems to produce magnetic components utilizing several processing options. In this article, we review the development of bonded magnet technology. The major classes of magnetic powders, binder systems, and processing technologies are described. Recent developments in magnetic material grades, e.g., anisotropic NdFeB, rare earth lean NdFeB, $\mathrm{SmFe}\mathrm{(N,C)}$ are outlined. The current status of processing and binder options aimed at increasing the upper application temperature limit of these materials is highlighted. Finally, the improvements and future opportunities for bonded magnets are discussed.