Book excerpt: It is a dream of chemists and physicists to use magnetism, an important physical property of many materials, to control chemical and physical processes. With new manufacturing technologies for superconducting magnets, it has become possible to produce strong magnetic fields of 10 Tesla or more for applications in chemistry and physics. New magnetic phenomena, useful for processing functional molecules with improved quality, have been discovered recently. They open up exciting possibilities for studying and applying magnetic field effects in the chemical and physical processes of diamagnetic, paramagnetic and ferromagnetic materials. This volume will serve as a useful reference for specialists and non-specialists interested in this exciting new area of megneto-science.