Neodymium magnets are permanent magnets, and lose a fraction of their performance every 100 years if maintained within their optimum working conditions.
There are two factors which can shorten a magnet’s lifespan.
If the temperature of a magnet exceeds the maximum operating temperature (e.g. 80oC for N42 grade neodymium magnets), then the magnet will lose magnetism that will not be recovered on cooling. Samarium cobalt magnets are not quite as strong as neodymium magnets but they do have a much higher operating temperature of up to 350 degrees Celsius.
If the plating on a magnet is damaged and water can get inside, the magnet will rust and again this will result in a deterioration in magnetic performance. Samarium cobalt magnets and ferrite magnets are both resistant to corrosion but aren’t as strong as neodymium magnets. Based of above factor, we recommend that you talk to a professional expert to determine which type of neodymium magnet suitable for your application. Check out our blog about grade of Neodymium magnet to learn better.