High-performance Rare-Earth Free Permanent Magnets for Consumer Appliances

Refrigerators, freezers, microwaves, and washing machines define the modern household. Magnets are at the heart of the compressors, fans, and motors that drive these appliances. Today, manufacturers either pay a premium for the compact size and performance of neodymium rare earth magnets or use low-cost ferrite and work around performance limitations and bulky designs. Designers have been forced to choose between two extremes.

From 2020 to 2030, the consumption of rare earth magnets in consumer appliances is expected to surge, driven by the growth of the global middle class. 

Consumer appliance manufacturers are challenged with meeting increasing demand while managing rising rare earth prices and supply chain instability. Within 5 years, demand for rare earth permanent magnets is expected to surge, driving shortages and even higher prices.