Used primarily in specialized industrial coatings and corrosion-resistant paints due to its ability to enhance durability and protect metal surfaces. It functions as a drying agent in alkyd-based paints, promoting faster curing and improved film formation. Also employed in small amounts as a stabilizer in certain polymer systems to prevent degradation during processing. Historically found use in some medicinal formulations, though this has been largely discontinued due to toxicity concerns. Its application is limited today because of environmental and health risks associated with lead.