This chemical is widely used as a catalyst in various organic synthesis reactions. It is particularly effective in promoting polymerization processes, such as the production of polyols and polyethers. Additionally, it plays a key role in the synthesis of pharmaceuticals, where it facilitates the formation of complex molecular structures. The compound is also employed in the manufacture of specialty chemicals, including dyes and resins, due to its ability to enhance reaction efficiency. In the field of electronics, it is utilized in the production of semiconductors and other advanced materials. Its strong Lewis acid properties make it valuable for initiating and accelerating a range of chemical transformations in industrial and laboratory settings.