- Permanent magnets refer to the type of magnetic materials where the magnetic field generally gets created by the internal structure of the materials themselves
- These magnets are manufactured from special alloys such as nickel, cobalt and iron among several other rare-earth metals, and minerals including lodestone. These tend to generate a persistent magnetic field without requiring any external source of magnetism or electrical power.
- The demand for Permanent Magnet is significantly driven by increase in development and modernization of infrastructure, rise in demand for efficiency and miniaturization and surge in initiatives taken by associations and regulatory bodies
