Appliance performance, affordability, and sustainability with a permanent magnet alternative to neodymium and ferrite

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. In established markets, increasingly demanding consumers are seeking differentiated sustainability when making a purchase.

Consumer appliance manufacturers are challenged with meeting increasing demand while managing rising rare earth prices, scrutiny of rare earth environmental impact, and supply chain instability. Within 5 years, competition with electric vehicles and wind turbines for permanent magnets is projected to increase, driving shortages and even higher prices.