Ferrite magnet belongs to sintered permanent magnet material, which is composed of barium and strontium ferrite. In addition to strong demagnetization resistance, this magnetic material has the advantage of low cost. Ferrite is hard and brittle, which requires special machining technology. The magnetic energy product ranges from 1.1 mGOE to 4.0 mGOE. Because of their low cost, ferrite magnets have a wide range of applications, from motors and speakers to toys and crafts, so they are currently the most widely used permanent magnet material.