Used as a mild and efficient catalyst in organic synthesis, particularly in esterification, acetalization, and protection/deprotection reactions of carbonyl compounds. It is valued in pharmaceutical manufacturing for its ability to promote reactions under neutral to slightly acidic conditions without damaging sensitive functional groups. Commonly applied in the synthesis of natural products and fine chemicals where selective transformations are required. Also serves as a reagent in the preparation of glycosides and nucleosides due to its solubility in polar organic solvents and low nucleophilicity.