Praseodymium is a soft, silvery metal that is highly reactive, prone to tarnishing when exposed to air. This rare earth mineral has remarkable magnetic and optical properties, making it an essential component in high-performance magnets, that enable energy-efficient technologies and compact designs. These magnets are utilized in electric vehicle motors, wind turbines, and various electronic devices.

Praseodymium compounds are also used in manufacturing of yellow pigments for ceramics, glass, lasers and optical fibers for telecommunications and medical applications.