This chemical is primarily used as a catalyst in various organic synthesis reactions. It is particularly effective in hydrogenation and carbonylation processes, where it facilitates the addition of hydrogen or carbon monoxide to organic compounds. Its unique structure, combining ferrocene and chromium carbonyl moieties, allows for enhanced stability and reactivity under mild conditions. Additionally, it finds application in asymmetric synthesis, aiding in the production of chiral molecules with high enantiomeric purity. This makes it valuable in the pharmaceutical industry for the synthesis of complex drug intermediates. Its use in polymerization reactions also contributes to the development of specialized polymers with tailored properties.