Ferrites are ceramic, homogeneous materials composed of various oxides with iron oxide as their main constituent. Ferrites are a class of ceramic ferromagnetic materials that by definition can be magnetized to produce large magnetic flux densities in response to small applied magnetization forces. Further, ferrites are chemical compounds, ceramic with iron (III) oxide Fe2O3 as their principal components [1]. Ferrites are usually non-conductive ferrimagnetic ceramic compounds derived from iron oxides such as hematite (Fe2O3) or magnetite (Fe3O4) as well as oxides of other metals. Ferrites are, like most other ceramics, hard and brittle. Many of them are magnetic materials and they are used to make permanent magnets, ferrite cores for transformers and in various other applications.