Materials with specific magnetic properties

Purpose: The purpose of the paper is characterization of properties and application possibilities of modern, soft and hard magnetic materials. Another aspect involved in the paper is to compare these materials with classical magnetic materials and to show their influence on the development of modern technology connected with miniaturization of devices in different branches of techniques. Design/methodology/approach: The main base of the paper is to compare the properties and possibilities of application of soft and hard magnetic materials with taking into consideration the development of manufacturing technology of these materials which by obtaining the maximum possible values of properties allows for simplification of machines and devices construction with use of magnetic elements. Findings: In comparison to classical magnets modern magnetic materials have optimum technology of production with properties that allow for miniaturizing, simplification and lowering the costs of devices. Practical implications: Further examination to obtain improved properties of magnetic materials and investigations of constructions of new machines and devices with these materials elements are still needed. Originality/value: The paper is the review of modern magnetic materials development.