The Queen Elizabeth Prize for Engineering — called the “Nobel for engineering” — recognized the importance and ubiquitousness of magnets by naming Japanese scientist Masato Sagawa the 2022 laureate. Sagawa invented the neodymium-iron-boron (Nd-Fe-B) magnet, which is the strongest permanent magnet in widespread use today. They’re everywhere around us in the products we use every day, like cars, cellphones, and computers.   It’s relevant to note that America’s Dr. John Croat simultaneously came up with the same material solution when working with General Motors. Sagawa’s manufacturing process, however, gave him the upper hand. 

Neodymium-Iron-Boron Magnet

Without the Nd-Fe-B magnet, our lives would be undeniably different. Work, travel, healthcare — none of it would be nearly as efficient, and some of it wouldn’t be possible. Additionally, this magnet is only going to become more indispensable in the years to come. Many systems for renewables implement and require them to function, including wind turbines. Some people predict that the market for Nd-Fe-B magnets will be worth close to $20 billion by mid-decade. 

Masato Sagawa’s Discovery

Sagawa made his breakthrough in the early 80s, back when a samarium-cobalt (Sm-Co) combination created the strongest permanent magnet. Because cobalt metal is rare, he determined that he could come up with a solution based on iron. Doing so would be the most cost-effective, useful, and sustainable option. Consequently, he worked to combine iron and neodymium (the third most abundant rare-earth element).  For his incredible contribution to society and as a winner of the QE Prize for Engineering, Sagawa received $500,000 and a trophy presented by the Queen. 

What This Discovery Means and More with Apex Magnets

It’s worth noting this quote from Illya Marotta, a marine engineer who sits on the judging panel for the QE Prize: They said, "Sometimes, we take things for granted. People may relate to magnets as the little souvenirs that you stick to the refrigerator door. But magnets are far more impressive than that, and neodymium magnets, in particular, have enabled a lot of technologies to move forward." We tend to agree and are constantly on the lookout to highlight new magnet discoveries. If you want to learn more about the latest magnetic discoveries, browse our neodymium magnet information and magnet facts sections of the blog or subscribe to our newsletter today.