Used in the production of specialized glass and ceramics, enhancing their color and optical properties. Commonly employed in the manufacturing of strong permanent magnets when alloyed with other rare earth elements. Applied in catalysts for automotive exhaust systems and industrial chemical processes due to its redox properties. Utilized in research and development of phosphors and luminescent materials for display technologies. Also serves as a precursor in the synthesis of other praseodymium-based compounds for electronic and magnetic applications.