Used as a precursor in the synthesis of yttrium-based materials, particularly in the production of yttrium oxide (Y₂O₃) for phosphors and luminescent compounds. Commonly employed in sol-gel processes to fabricate thin films and nanoparticles for optical coatings and ceramic materials. Plays a role in doping scintillators and solid-state lasers due to yttrium's ability to host active luminescent ions. Also utilized in catalyst preparation and in research for developing yttrium-containing perovskites with electronic or magnetic properties. Its solubility in water and alcohols makes it suitable for solution-based processing techniques.