Used as a catalyst in organic synthesis, particularly in cross-coupling reactions such as Heck, Suzuki, and Sonogashira reactions, enabling the formation of carbon-carbon bonds. It serves as a soluble source of palladium in homogeneous catalytic systems, offering high activity under mild conditions. Commonly applied in pharmaceutical and fine chemical manufacturing where efficient and selective transformations are required. Its propionate ligands can enhance stability and solubility in organic solvents, improving catalyst performance in industrial processes.