This chemical is primarily used as a catalyst in organic synthesis, particularly in polymerization reactions. It facilitates the formation of high-performance polymers with enhanced thermal stability and mechanical properties. Additionally, it is employed in the production of specialty chemicals where precise control over reaction kinetics is crucial. Its application extends to the field of materials science, where it contributes to the development of advanced coatings and adhesives with superior durability and resistance to environmental factors. In some cases, it is also utilized in electrochemical processes due to its stability and conductivity properties.