Perament Magnet selection for all applications must consider the entire magnetic circuit and the environment. Where Alnico is appropriate, magnet size can be minimized if it can be magnetizing after assembly into the magnetic circuit. If used independent of other circuit components, as in security applications, the effective length to diameter ratio (related to the permeance coefficient) must be great enough to cause the magnet to work above the knee in its second quadrant demagnetization curve. For critical applications, Alnico magnets may be calibrated to an established reference flux density value. 
A by-product of low coercivity is sensitivity to demagnetizing effects due to external magnetic fields, shock, and application temperatures. For critical applications, Alnico magnets can be temperature stabilized to minimize these effects 
There are four classes of modern commercialized magnets, each based on their material composition. Within each class is a family of grades with their own magnetic properties. These general classes are:

Neodymium Iron Boron
Samarium Cobalt
Ceramic
Alnico

NdFeB and SmCo are collectively known as Rare Earth magnets because they are both composed of materials from the Rare Earth group of elements. Neodymium Iron Boron (general composition Nd2Fe14B, often abbreviated to NdFeB) is the most recent commercial addition to the family of modern magnet materials. At room temperatures, NdFeB magnets exhibit the highest properties of all magnet materials. Samarium Cobalt is manufactured in two compositions: Sm1Co5 and Sm2Co17 - often referred to as the SmCo 1:5 or SmCo 2:17 types. 2:17 types, with higher Hci values, offer greater inherent stability than the 1:5 types. Ceramic, also known as Ferrite, magnets (general composition BaFe2O3 or SrFe2O3) have been commercialized since the 1950s and continue to be extensively used today due to their low cost. A special form of Ceramic magnet is "Flexible" material, made by bonding Ceramic powder in a flexible binder. Alnico magnets (general composition Al-Ni-Co) were commercialized in the 1930s and are still extensively used today.

These materials span a range of properties that accommodate a wide variety of application requirements. The following is intended to give a broad but practical overview of factors that must be considered in selecting the proper material, grade, shape, and size of magnet for a specific application. The chart below shows typical values of the key characteristics for selected grades of various materials for comparison. These values will be discussed in detail in the following sections.