Dysprosium is a heavy rare earth element with metallic silver luster. Dysprosium is never found in nature as the simple substance but found in various minerals like xenotime. Almost all of Dysprosium produced in China, then mainly used to the activator of phosphor, giant magnetostrictive TbDyFe Terfenol-D, and magneto-optical memory material. Dysprosium can significantly enhance intrinsic coercivity Hcj of Neodymium magnets. Dysprosium is generally used in the form of DyFe alloy due to the price factor. DyFe price has considerable influence on the cost of high coercivity Neodymium magnets. In order to ensure rational use of rare earth resource, supply chain stability, and cost advantage, both magnet users and manufacturers have been trying to get rid of heavy rare earth elements Dysprosium and Terbium, thus launched many Dy-free or Dy-less solution, such as grain refining technology and latest grain boundary diffusion (GBD) technology.