Iron naphthenate is widely used as a drying agent in paints, varnishes, and inks, where it accelerates the oxidation and polymerization of oils, leading to faster drying times. It is also employed as a catalyst in various chemical reactions, particularly in the production of synthetic resins and polymers. In the wood preservation industry, it serves as a fungicide and insecticide, protecting wood from decay and pest infestations. Additionally, it is utilized in the manufacturing of lubricants and greases, where it enhances the stability and performance of these products. In the petroleum industry, iron naphthenate acts as a fuel additive to improve combustion efficiency and reduce emissions. Its versatility and effectiveness make it a valuable component in multiple industrial applications.