Used as a buffering agent in pharmaceutical formulations to maintain stable pH levels. Employed in analytical chemistry as a component of mobile phases for HPLC due to its UV transparency and ionic properties. Serves as an intermediate in the synthesis of specialty potassium salts and organic compounds. Also utilized in some electroplating baths to stabilize pH and enhance conductivity. Its solubility and mild acidity make it suitable for applications requiring controlled release of acid in industrial processes.