Used as a precursor in the synthesis of yttrium-based materials, especially yttrium oxide (Y₂O₃), which is important in phosphors for LED lighting and display technologies. Commonly employed in sol-gel processes to fabricate thin films and nanomaterials due to its good solubility and reactivity. Plays a role in catalyst preparation for organic reactions and ceramic manufacturing. Also utilized in research for doping rare-earth materials in solid-state devices and optical coatings.