AlNiCo magnets account for a little more than four thousand metric tons of material with a market value of $280mn. AlNiCo magnets are often used as a replacement magnet for ferrite magnets when high temperature performance is required. Raw materials are estimated to account for approximately 33% of the cost of AlNiCo magnets, with the most expensive element being cobalt. The technology involves the substitution of less expensive materials for cobalt therefore significantly reducing production costs. Previous attempts at this substitution have almost exclusively used a 1:1 substitution of iron for cobalt. The results have been a decrease in the performance of the magnet with the increased substitution. The inventors have used a different approach to substitution, substituting several low cost elements for cobalt. The resulting magnet not only matches the performance of a traditional AlNiCo magnet, but production time is significantly reduced and can occur a much lower temperatures further reducing production costs.
Applications and Industries
Magnet production and scientific research