Used primarily as a ligand in organometallic chemistry, this compound forms stable chelate complexes with various metal ions due to its beta-diketone structure. It is especially valuable in the synthesis of catalysts for polymerization and oxidation reactions. Its sterically hindered structure enhances thermal stability and influences selectivity in catalytic processes. Additionally, it serves as a precursor in the preparation of specialty materials and metal-organic frameworks where controlled volatility and decomposition are required.