Rare earth magnets are strong permanent magnets. As they are stronger than ferrite or alnico magnets, the magnetic field produced by them are also higher.Neodymium Rare Earth magnets offer high energy and holding power in compact sizes and light weights. Some of the common applications of the rare earth magnets are :They are used in computer hard drives,high-end speakers,study of magnetic field dynamics.Rare elements find their application in glass, ceramic, lighting, and metallurgical industries.