Since the 19th century, theory of magnetism has developed rapidly, and new magnetic materials are continuously being discovered. Magnetic materials have been widely applied to various areas as an important functional material. It could be argued that there can be no modern power industry, industrial automation, information industry without magnetic material. Permanent magnetic material, soft magnetic material, and magnetic record material is hailed as three primary magnetic material, then they constitute the huge family of magnetic material with magnetic refrigeration material, magnetostrictive material, magnetic absorbing material, and newly-developed spin-electronic material. Permanent magnetic material which also known as hard magnetic material, is the earliest applied magnetic material in human history.
Unlike other disciplines, magnetism passed the process from technology to science. Chinese used lodestone to make compass as early as 300 BC. However, even if people have utilized magnetism of matter, human cognition to magnetism rose to the theoretical stage until 19th century and magnetism began to develop rapidly.