Used primarily in the synthesis of platinum-based catalysts for industrial chemical processes, including hydrogenation and oxidation reactions. It serves as a precursor in the preparation of supported platinum catalysts used in petroleum refining and automotive catalytic converters. Also employed in electroplating baths to deposit platinum coatings for electronic components and corrosion-resistant surfaces. Plays a role in analytical chemistry for the determination of certain anions due to its ability to form insoluble salts. Additionally, utilized in research settings for the development of new platinum-containing materials and in the fabrication of sensors.