Used in water treatment to remove contaminants through magnetic separation due to its ability to bind with heavy metals and pollutants. Commonly applied in environmental remediation for cleaning up oil spills, as it can be mixed with oil and then removed using magnets. Utilized as a pigment in coatings and construction materials for its dark color and durability. Plays a role in medical applications, such as targeted drug delivery and magnetic hyperthermia cancer treatment, where its magnetic properties allow for precise control under external magnetic fields. Also used in industrial processes as a catalyst support and in the production of iron and steel as a source of iron ore. Additionally, employed in magnetic recording technologies, such as tape heads and certain data storage devices, leveraging its ferromagnetic properties.