This compound is primarily used as a catalyst or co-catalyst in various chemical reactions, particularly in polymerization processes. It is highly effective in facilitating the production of polyolefins, such as polyethylene and polypropylene, due to its strong Lewis acid properties. In organic synthesis, it serves as a powerful activator for olefin polymerization catalysts, enhancing their efficiency and control over the molecular weight distribution of the resulting polymers. It is also employed in the synthesis of specialty chemicals and fine chemicals, where precise control over reaction conditions is crucial. Additionally, its unique properties make it suitable for use in electrochemical applications, such as in the development of advanced materials for batteries and other energy storage devices. Its stability and reactivity under various conditions make it a valuable component in both industrial and research settings.