Rapidly quenched isotropic rare earth iron boride (RE–Fe–B) powders have found many applications throughout the electronics, automotive and white goods industries. The magnetic performance, thermal stability, corrosion resistance and processability of a powder are important factors when selecting a RE–Fe–B powder for a particular application. For electronic devices that operate at ambient temperatures, high remanence (B r ) tends to be a priority and RE 2 Fe 14 B/α-Fe nanocomposite powder magnets are favoured. Alternatively, automotive applications tend to require greater thermal stability and corrosion resistance, which are satisfied by single-phase RE 2 Fe 14 B powder magnets with higher intrinsic coercivity (H ci ). This article reviews the performance of commercially available rapidly solidified RE–Fe–B powders and recent developments made to address the demands of applications.