This chemical is primarily used in the field of materials science, particularly in the development of boron-based polymers and composites. Its unique structure allows it to enhance thermal stability and flame resistance in various materials, making it valuable for applications in aerospace and automotive industries. Additionally, it is utilized in the synthesis of boron-containing pharmaceuticals, where it contributes to the stability and bioavailability of certain drugs. In research, it serves as a precursor for creating advanced boron clusters, which are studied for their potential in catalysis and energy storage systems.