Ferrite is a type of non-metallic magnetic material developed in the 1940s. Because its preparation process and appearance are very similar to ceramic products, it is sometimes called ceramic magnet. Ferrite magnet is made of iron oxides and few other elements like barium, strontium and lead. Compared with metal magnets, ferrite performs as lower magnetic energy but better ability to resist demagnetization. Since ferrite is mainly made by oxide, it performs as strong resistance to corrosion and oxidation. The relatively low raw material cost and simple production process make ferrite takes the largest market share among all kinds of magnets.As one of the most cost-effective magnetic materials, ferrite magnet is widely applied in in various industrial applications like refrigerator, loudspeaker and small electric motor.