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Many different materials can be utilized to create industrial magnets, including ceramics, neodymium, iron, boron, samarium and cobalt, nickel, aluminum, clay and steel. Each of these materials has differing properties like porosity, magnetic permanence, strength, fabricating manageability and cost, which make certain materials better for specific applications.

How an industrial magnet is shaped can also effect how it is utilized in certain industries. Bar magnets, which are utilized in the manufacturing of compasses, mobility of scrap metal and integrated into automotive motor systems, are shaped like rectangles regardless of their size. Other shapes involve coils, magnetic strips and even large pieces that resemble sheet metal.

There are two main categories of magnets. Electromagnets, as their name suggests, utilize electric current to generate magnetic fields, and are therefore known as non-permanent magnets. Permanent magnets are magnetic all the time, although the extent of their magnetism sometimes depends on environmental factors such as extreme temperatures and corrosion.