Neodymium ring magnets are strong Rare-Earth magnets, circular in shape with a hollow center. Neodymium (also known as “Neo”, “NdFeb” or “NIB”) ring magnets are the most powerful magnets commercially available today with magnetic properties that far exceed those of other permanent magnet materials. Due to their high magnetic strength, neodymium ring magnets have replaced other magnetic materials in order to make a design smaller while achieving the same result.