Used in the production of neodymium-doped glasses and crystals for lasers and optical amplifiers. Commonly employed in the manufacturing of specialty ceramics and catalysts. Serves as a precursor for synthesizing neodymium oxide and other neodymium compounds used in permanent magnets, particularly in high-performance NdFeB magnets. Applied in research and development for luminescent materials and in coating technologies. Also utilized in analytical chemistry as a reagent for calibration and standardization.