Used primarily in research and specialized chemical synthesis, this compound serves as a precursor in the preparation of other vanadium compounds. It finds application in catalysis studies, particularly in exploring fluorination reactions and oxidation state transformations. Due to its reactivity with moisture and air, it is handled under controlled conditions, making it suitable for use in sealed systems or inert atmosphere environments. It is also investigated for potential use in electronic materials and semiconductor processes where precise metal fluoride deposition is required.