Abstract
Permanent magnets are an indispensable part of the modern technology. They are mainly used for data storage and energy conversion. The most powerful permanent magnets are based on intermetallic compounds containing rare-earth metals (Nd, Sm, Dy, Tb), as well as transition metals (Fe and Co). The rare-earth elements are necessary to provide strong spin-orbit coupling for high magneto-crystalline anisotropy, while the transition metals are responsible for high spontaneous magnetization and a high Curie temperature. Growing market demands and dependency on expensive rare-earth elements are driving the industry and scientific community to search for new magnets with a reduced critical rare-earth content. Advanced theoretical and experimental techniques will be developed and applied to discover new permanent magnets with a lesser content of critical raw materials. Possibilities of magnetic anisotropy control by chemical substitution will be examined.