Used extensively in magnetic recording media such as audio and video tapes, floppy disks, and credit card stripes due to its high coercivity and thermal stability. Commonly found in permanent magnets for small motors, speakers, and sensors, especially where resistance to demagnetization and corrosion is required. Applied in microwave devices because of its favorable magnetic properties at high frequencies. Also utilized in magnetic stripe cards and security systems for encoding information. Its hexagonal crystal structure supports strong anisotropy, making it suitable for applications needing stable magnetic performance under varying temperatures.