Used as a drying agent in oil-based paints and varnishes, where it accelerates the curing process by promoting the oxidation and polymerization of drying oils. It is also employed as a fuel additive to improve combustion efficiency and reduce engine deposits. In industrial applications, it serves as a catalyst in organic reactions and as a wood preservative due to its biocidal properties. Additionally, it is used in the formulation of inks and coatings for enhanced film formation and durability.