Ferrite, also known as Ceramic, magnets were formulated in the 1950s by Phillips in Holland. The major raw material used to manufacture Ferrite magnets is very inexpensive - iron oxide, more commonly known as "rust"! Due to their low cost, they are the most commonly used permanent magnets even today.
Ferrite Magnets Benefits
Inexpensive yet strong; a good balance between strength and affordability
Does not demagnetize easily
Can be magnetized with multiple poles if necessary.
Does not rust
1,great variety
2,strong magnet force
3,perfect price
4,stable performance
