Used as a source of neodymium ions in research and industrial applications, particularly in the preparation of neodymium-doped materials for lasers and solid-state devices. Employed in the synthesis of specialty glasses and ceramics that require precise control of rare earth ion content, contributing to coloration and optical properties. Also utilized in magnetic material studies due to neodymium’s strong paramagnetic characteristics. Serves as a precursor in catalysts and in electrochemical processes where soluble rare earth salts are needed. Its hydrate form ensures good solubility in water, facilitating use in solution-based applications.