Used primarily in the production of platinum-based catalysts for industrial chemical processes, including catalytic converters in automotive exhaust systems. It serves as a precursor in the synthesis of fine platinum powders used in electronics, fuel cells, and specialty coatings. Also employed in research laboratories for the preparation of other platinum compounds and in electroplating applications where high-purity platinum layers are required. Its controlled decomposition allows for precise deposition of platinum in sensor technologies and semiconductor devices. Additionally, it is used for the gravimetric determination and recovery of platinum from ores, alloys, or industrial waste due to its low solubility and ease of precipitation as a yellow crystalline salt.