Alnico magnets are relatively cost-effective. They boast the low variation in magnetic output due to temperature change. Alnico magnets have been largely superseded for general applications however they are ideal for use in very high-temperature applications. Some examples of high temperature applications include clamping, precision sensors, manufacturing equipment and aeronautical equipment. They are also the magnet of choice for any field that deals with hot oils including food production and mechanical. Another common use for Alnico magnets is for high temperature handling equipment.

Alnico Horseshoe Magnets are frequently used by teachers in educational settings to demonstrate the fundamentals of magnetism. Alnico horseshoe magnets are painted with the traditional red or red and blue glossy finish. They provide a fun and interactive way of teaching children about the nature of magnets and the magnetic field they produce. As Alnico magnets are less powerful than Neodymium magnets they are far more appropriate for a classroom setting. They are easily handled with less risk of injury or damage.

Alnico magnets are also available as a block magnet, cylinder magnet or pot magnet.

Alnico magnets are either isotropic or anisotropic. The key difference being that isotropic Alnico magnets can be magnetised in any direction. Whereas anisotropic Alnico magnets can only be magnetised in one direction however they are normally more powerful.

As Neodymium magnets are the strongest type of magnets available we often compare other magnets to them. However with Alnico magnets it may be more appropriate to make comparisons with Ferrite magnets as well. Alnico magnets are stronger than Ferrite magnets. They are also electrically conductive unlike Ferrite magnets (ceramic magnets). They are more prone to losing their magnetic power if stored incorrectly as they are less magnetically stable than either Ferrite magnets or Neodymium magnets. However Alnico magnets outshine all the others when it comes to a high temperature application. They are able to maintain their magnetic strength even in extreme temperatures.