Used as a pigment in paints, coatings, and construction materials due to its stable red-brown color. Commonly found in rust-proof primers because it helps prevent corrosion on steel surfaces. Employed in the production of magnetic storage media and as a catalyst in industrial chemical reactions, such as the Haber process for ammonia synthesis. Also utilized in thermite mixtures for welding and cutting metals. In medicine, it serves as a component in some drug delivery systems and diagnostic imaging agents. Additionally, used in water treatment to remove pollutants through adsorption and oxidation processes.