Used as a pigment in paints, coatings, and construction materials due to its stable red-brown color. Commonly found in rust-proof primers because of its corrosion-inhibiting properties. Employed in the production of magnetic storage media and electronic components for its magnetic characteristics. Utilized in water treatment processes to remove contaminants like arsenic and phosphates. Acts as a catalyst in industrial reactions, including the Haber process for ammonia synthesis and Fischer-Tropsch conversion of syngas to liquid fuels. Also used in thermite mixtures for welding and metal cutting applications.