Used as a catalyst in petroleum refining processes, particularly in fluid catalytic cracking (FCC), where it helps convert heavy hydrocarbons into lighter, more valuable products like gasoline. It enhances selectivity toward desired fractions while improving thermal stability of the catalyst. Also employed in environmental catalysis for reducing nitrogen oxides (NOx) emissions in industrial exhaust systems due to its redox properties. Shows promise in oxidative dehydrogenation reactions and as a component in advanced ceramic materials for high-temperature applications.