Used as a catalyst in high-temperature oxidation reactions due to its excellent thermal stability and redox properties. Commonly applied in automotive exhaust systems to reduce emissions by promoting the conversion of carbon monoxide and unburned hydrocarbons. Also utilized in solid oxide fuel cells as an electrode material because of its mixed ionic and electronic conductivity. Shows promise in gas sensing applications, particularly for detecting oxygen and hydrocarbons at elevated temperatures. Its resistance to sintering and chemical degradation makes it suitable for long-term industrial catalytic processes.