Used primarily in the preparation of ytterbium oxide for specialty glass and ceramics that exhibit high resistance to thermal shock and corrosion. Plays a role in the synthesis of phosphors for lighting and display technologies, particularly in near-infrared emitting materials. Employed in research settings for doping laser materials due to ytterbium's favorable optical properties. Also utilized in the production of catalysts for organic transformations and in the development of advanced materials for solid-state devices. Its hydrate form aids in handling and processing during industrial applications.