Used as a precursor in the synthesis of holmium-doped materials for solid-state lasers, optical amplifiers, and high-performance magnetic materials at low temperatures. Employed in research for developing specialized phosphors and luminescent compounds due to holmium’s unique emission properties in the near-infrared range and its pronounced magnetic properties. Serves as a source of holmium ions in ion-exchange studies and in the preparation of catalysts for certain organic transformations. Also utilized in scientific studies involving rare earth element behavior in aqueous systems and hydrate salts.