Used extensively as a permanent magnet material in small electric motors, such as those found in automotive accessories (e.g., windshield wiper motors, power windows), household appliances, and power tools. Its high magnetic stability and resistance to demagnetization make it ideal for these applications. Commonly used in magnetic separators to remove ferrous contaminants from materials in food processing, pharmaceuticals, and plastics industries. Employed in loudspeakers and microphones due to its ability to provide consistent magnetic fields at low cost. Found in magnetic holding devices like refrigerator seals, latches, and whiteboard magnets. Utilized in some types of magnetic recording media and sensors where moderate magnetic strength is sufficient. Offers good corrosion resistance, eliminating the need for plating or coating in most environments.