Used as a catalyst in organic synthesis, particularly in polymerization reactions. It facilitates the formation of polyolefins and other polymers by activating olefin monomers. Also employed in the production of specialty chemicals, where it acts as a Lewis acid to promote various chemical transformations. Additionally, it is utilized in the synthesis of pharmaceuticals and fine chemicals, enhancing reaction efficiency and selectivity. Its strong electrophilic properties make it valuable in initiating and controlling complex chemical processes.