Used as a precursor in the synthesis of ytterbium-doped materials for optical and laser applications. Employed in the preparation of catalysts for organic transformations, particularly in selective oxidation reactions. Serves as a source of ytterbium ions in the fabrication of phosphors and luminescent materials for display technologies. Applied in research for developing new ceramic and glass materials with enhanced thermal and electrical properties. Also utilized in analytical chemistry as a tracer or internal standard in mass spectrometry.