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Magnets provide several benefits to the industrial world. If used in electric generators, these can change mechanical energy into electricity. Also, in some other applications, these can convert electricity back into mechanical work. These are also utilized in the work of recycling. Magnets can also eliminate small metal bits from the grains as well as other food. Some of them are used to produce permanent magnets for the applications of small electric motors, refrigerator magnets, loudspeakers and others. These are provided with low coercivity and can change their magnetization. Some of them also work as the conductors of magnetic fields. These are highly resistant to demagnetization and boast of excellent magnetic permeability. In this way, the stronger magnetic fields can be created.