Used as a precursor in the production of rhenium metal and rhenium-based catalysts, which are critical in petroleum refining processes such as catalytic reforming to produce high-octane gasoline. Also employed in the synthesis of specialty chemicals and electronic materials due to its high rhenium content and solubility. Commonly used in research and industrial applications where a soluble form of rhenium is required for coating, impregnation, or chemical vapor deposition.