Ferrite magnets, also known as ceramic magnets, are one of the most widely used types of magnets due to their low cost, high resistance to demagnetization, and excellent corrosion resistance. They are made from a combination of iron oxide and either barium or strontium carbonate, which are then sintered to form a hard, brittle material. Ferrite magnets are commonly found in a wide range of applications across various industries, thanks to their unique properties.