Synthesis, Characterization, and Magnetocaloric Properties of the Ternary Boride Fe₂AlB₂ for Caloric Applications

The ternary transition metal boride Fe₂AlB₂ is a unique ferromagnetic "MAB" phase that demonstrates a sizable magnetocaloric effect near room temperature-a feature that renders this material suitable for magnetic heat pump devices (MHP), a promising alternative to conventional vapor compression technology. Here, we provide a comprehensive review of the material properties of Fe₂AlB₂ (magnetofunctional response, transport properties, and mechanical stability) and discuss alloy synthesis from the perspective of shaping these materials as porous active magnetic regenerators in MHPs. Salient aspects of the coupled magnetic and structural phase transitions are critically assessed to elucidate the fundamental origin of the functional response. The goal is to provide insight into strategies to tune the magnetofunctional response via elemental substitution and microstructure optimization. Finally, outstanding challenges that reduce the commercial viability of Fe₂AlB₂ are discussed, and opportunities for further developments in this field are identified.