Iron(III) Diethyldithiocarbamate is primarily used as a vulcanization accelerator in the rubber industry. It helps in improving the elasticity, strength, and durability of rubber products by speeding up the curing process. Additionally, it serves as a stabilizer in certain types of polymers to prevent degradation caused by heat and light. In the field of agriculture, it is sometimes employed as a fungicide to protect crops from fungal infections. It also finds application in analytical chemistry as a reagent for the detection and quantification of metal ions due to its strong chelating properties.