Used as a precursor in the synthesis of cobalt-based catalysts and materials for lithium-ion batteries. It serves in the preparation of cobalt metal powders and magnetic materials due to its controlled decomposition behavior. Also employed in electroplating processes to deposit cobalt coatings with good adhesion and uniformity. In the ceramics and glass industries, it imparts blue or blue-green colors to products, especially in high-temperature resistant glazes, enamels, and coatings. In research, it acts as a starting material for producing cobalt oxide nanoparticles used in sensors and energy storage devices, as well as for studying properties of transition metal compounds. Its thermal decomposition yields cobalt oxides, which are active in oxidation reactions and environmental catalysis.