This chemical is primarily utilized in industrial processes as a catalyst, particularly in organic synthesis reactions. Its properties make it effective in facilitating specific chemical transformations, such as oxidation or reduction processes, where precise control over reaction conditions is required. It is also employed in the production of fine chemicals and pharmaceuticals, where its catalytic activity enhances yield and selectivity. Additionally, it finds application in environmental technologies, aiding in the breakdown of pollutants or the synthesis of environmentally friendly compounds. Its stability and efficiency make it a valuable component in advanced chemical manufacturing and research.