Used primarily in catalysis for organic synthesis, particularly in cross-coupling reactions like Suzuki and Heck reactions, which are essential for creating complex organic compounds. It serves as a precursor for synthesizing other palladium compounds, which are widely used in industrial and pharmaceutical applications. Additionally, it is employed in electroplating processes to deposit palladium onto surfaces, enhancing their durability and resistance to corrosion. In analytical chemistry, it is utilized as a reagent for detecting and quantifying specific substances. Its role in material science includes the preparation of palladium-based nanomaterials for use in sensors and electronic devices.