Widely used as a Lewis acid catalyst in organic synthesis, enabling a variety of carbon-carbon and carbon-heteroatom bond-forming reactions. It is particularly effective in promoting glycosylation, aldol condensations, and Friedel-Crafts acylations under mild conditions. Its water tolerance and reusability make it suitable for use in aqueous or mixed solvent systems, offering advantages in green chemistry applications. Also employed in the production of fine chemicals and pharmaceuticals due to its high selectivity and low corrosivity compared to traditional metal halide catalysts.