Used primarily in the production of platinum-based catalysts for industrial chemical processes, including catalytic converters and petroleum refining. Serves as a precursor in the synthesis of other platinum compounds used in electronics and specialty materials. Employed in research laboratories for the preparation of supported platinum catalysts due to its ability to decompose into metallic platinum under controlled conditions. Also utilized in electroplating processes where a high-purity platinum coating is required. Its well-defined composition makes it suitable for applications demanding precise platinum deposition, such as in sensors and fuel cell components.