Ferromagnetic materials: The materials which possess magnetism in the absence of applied magnetic field is known as ferromagnetic materials.
Example: iron, nickel, cobalt
Ferrimagnetic materials: They contain magnetic moments aligned antiparallel to one another, similar to antiferromagnetic materials. However, instead of having a zero net magnetic moment, different numbers of unpaired electrons in the component transition metals result do not cancel one another out, resulting in a spontaneous magnetization.
Example: Magnetite, Ferrous ferrite, Nickel ferrite, Manganese ferrite.