Used as a precursor in the synthesis of yttrium-based nanomaterials and thin films for optical and electronic applications. Commonly employed in sol-gel processes to fabricate yttrium oxide coatings, which have high thermal stability and are used in phosphors, lasers, and dielectric materials. Also utilized in the preparation of catalysts and as a dopant source in luminescent materials for display technologies. Its solubility in organic solvents makes it suitable for liquid-phase deposition techniques.