Used as a pigment in ceramics and glass manufacturing due to its stability at high temperatures and ability to produce reddish-brown to brown shades. Also employed in magnetic materials for electronic components because of its ferrimagnetic properties. Finds application in catalysis, particularly in reactions involving oxidation processes. Additionally, utilized in biomedical fields for targeted drug delivery and as a contrast agent in imaging when formulated into nanoparticles. Shows promise in energy storage, such as in lithium-ion batteries and supercapacitors, due to its redox activity and structural stability.