Primarily used in organic synthesis, this compound serves as a catalyst in various polymerization reactions, particularly for the production of specialty polymers. It is also employed in the synthesis of organometallic complexes, which are crucial in the development of advanced materials. In research, it is utilized to study the behavior of transition metal complexes and their interactions with organic molecules. Additionally, it finds application in the preparation of tungsten-based coatings and thin films, which are used in electronics and surface protection technologies. Its role in catalytic processes makes it valuable in industrial chemistry for creating high-performance materials and chemical intermediates.