This compound is primarily utilized in organic synthesis as a reagent for facilitating various chemical reactions. Its unique structure makes it effective in promoting esterification and amidation processes, particularly in the synthesis of complex organic molecules. It is often employed in the development of pharmaceuticals and fine chemicals, where precise control over reaction conditions is crucial. Additionally, it serves as a catalyst in polymerization reactions, aiding in the production of specialized polymers with tailored properties. Its application extends to research laboratories, where it is used to study reaction mechanisms and optimize synthetic pathways.