Used as a precursor in the production of molybdenum-containing catalysts for petroleum refining, especially in hydrodesulfurization processes. Applied in the manufacturing of specialty alloys and electronic materials through chemical vapor deposition or solution-based processes. Commonly employed in the formulation of corrosion inhibitors and lubricant additives to enhance performance under high-temperature and high-pressure conditions. Also utilized in analytical chemistry as a reagent for detecting certain elements like phosphates in water and soil samples.