Used primarily in the synthesis of iridium-based catalysts for industrial and laboratory applications. It serves as a precursor in the preparation of other iridium complexes used in homogeneous catalysis, particularly in reactions involving oxidation and hydrogenation. Also employed in research for developing luminescent materials and electrochemical sensors due to iridium’s unique electronic properties. Its role as a starting material in the fabrication of iridium oxide films makes it valuable in electrocatalysis and in the manufacturing of specialized electrodes for chlor-alkali processes.