Used in the production of yttrium-based catalysts for polymerization reactions, enhancing efficiency in synthetic rubber and plastic manufacturing. Employed in metallurgical processes to alloy with magnesium, improving high-temperature stability and mechanical strength. Applied in research for developing luminescent materials and phosphors used in LED and display technologies. Serves as a precursor in chemical vapor deposition for creating thin-film coatings with specialized optical and electronic properties. Also utilized in medical research, particularly in radiopharmaceuticals for cancer treatment and imaging.