JOURNAL OF PHYSICS D-APPLIED PHYSICS, vol.55, no.7, 2022 (SCI-Expanded)
When a ferromagnetic system is driven by an oscillating magnetic field, the system shows various intriguing magnetic properties. The two most common features are dynamic phase transition and dynamic hysteresis resulting from the competition between the period of the external field and the metastable lifetime of the system. In this article, we mainly review the similarities and dissimilarities between ferromagnetic systems in thermal equilibrium and those exposed to a driving time-dependent magnetic field. Extensive studies performed over two decades have shown that dynamic and thermodynamic phase transitions correspond to the same universality class and have similar phase diagrams, among other similarities. Remarkably, recent experimental studies have revealed that both fluctuations in dynamic order parameter and susceptibility can demonstrate anomalously sharp sidebands, which are known as metamagnetic anomalies, in the dynamically paramagnetic phase close to the critical point. This behavior is one of the most interesting behaviors observed in the magnetic systems driven by a time-dependent field which does not have an analog in the corresponding equilibrium counterparts. We discuss the general picture regarding the effects of the applied field components on the metamagnetic anomalies. As a main conclusion, we remark that a comprehensive literature overview reveals that the similarities between conventional thermodynamic phase transitions and corresponding dynamic counterpart are only limited to the vicinity of critical period regime with zero bias field, and they should be treated very carefully in the presence of surfaces. Finally, some of the main questions waiting to be answered and potential future research directions are underlined.