There are 2 types of magnets: permanent magnets and electro-magnets.

Permanent magnets emit a magnetic field without the need for any external source of power. Electro-magnets require electricity in order to behave as a magnet.

There are various different types of permanent magnet materials, each with their own unique characteristics. Each different material has a family of grades that have properties slightly different from each other, though based on the same composition.