Neodymium disc magnets get their name from the presence of neodymium, a rare earth element. According to K&J Magnetics, neodymium has the strongest magnetic potential of any rare earth element, allowing for the creation of tiny but powerful magnets.
A neodymium magnet contains a mix of neodymium, boron and iron pressed from a powder into solid disc form under high heat and pressure. Manufacturers then use an extremely strong magnetic field to magnetize the disc.
Neodymium disc magnets have a variety of industrial uses. The Ningbo Souwest Magnetech Development Company lists audio headphones and speakers, magnetic driven switch relays, medical imaging devices and computer hard drives as just a few of the applications that use these magnets.