Superconductors could potentially phase out bulk magnets in machinery ranging from MRIs and CT scanners to electric motors. The catch? Conventional high-temperature superconductors are made up of expensive rare earth metals and have a long and complicated fabrication process. This has caused attention to shift to superconductors manufactured from magnesium diboride (or MgB2), which is lightweight, cheap, and easier to fabricate and mold into intricate shapes.
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Source: Phys.org