Used as a catalyst in organic synthesis and in the petroleum industry for cracking hydrocarbons.

Employed in solid oxide fuel cells as a component of electrolytes due to its high ionic conductivity at elevated temperatures.

Utilized in the production of specialized glasses and ceramics that require high refractive index and thermal stability.

Also applied in the manufacturing of permanent magnets, particularly samarium-cobalt types, enhancing magnetic strength and temperature resistance. These magnets are suitable for electric motors, generators, aerospace applications, and drive systems in electric and hybrid vehicles.

Finds use in nuclear reactors as a neutron absorber because of its high neutron capture cross-section.

Additionally, used in advanced magnetic materials research.