Used as a strong Lewis acid catalyst in organic synthesis, particularly in Friedel-Crafts alkylation and acylation reactions. It facilitates the formation of carbon-carbon bonds in complex molecule construction.

In polymerization processes, it acts as an initiator or co-catalyst, especially in cationic polymerization of olefins and vinyl ethers.

It is also employed in the preparation of dyes and pigments, where it assists in the stabilization of cationic intermediates.

Additionally, it serves as a reagent in the synthesis of pharmaceuticals, enabling the formation of key intermediates in drug development.

Its role in generating carbocations makes it valuable in studying reaction mechanisms and developing new synthetic methodologies.