Used as a precursor in the synthesis of yttrium-based materials, particularly in the production of yttrium oxide (Y₂O₃) via thermal decomposition. This oxide is essential in manufacturing phosphors for LED lighting, color television screens, and fluorescent lamps due to its ability to emit red light when doped with europium. Also employed in the preparation of yttrium-stabilized zirconia, which has applications in fuel cells and high-temperature ceramics. Its hydrated form allows for better handling and solubility in aqueous processing methods, making it suitable for lab-scale and industrial applications requiring precise yttrium deposition.