Used as a catalyst in organic synthesis, particularly in Friedel-Crafts reactions where its Lewis acid properties promote alkylation and acylation of aromatic compounds. It facilitates carbon-carbon bond formation and is effective in the production of fine chemicals, pharmaceuticals, and intermediates. Due to its high reactivity, it is often employed in anhydrous conditions and requires careful handling to avoid decomposition. Also utilized in research settings for developing new catalytic processes and in the synthesis of specialty polymers.