Used primarily as a catalyst and reagent in organic synthesis, this compound facilitates various chemical reactions, including oxidation and polymerization processes. It is particularly valuable in the production of pharmaceuticals, where it aids in the synthesis of active ingredients. Additionally, it serves as a stabilizer in the manufacture of certain polymers, enhancing their durability and performance. Its role in research and development is significant, often employed in studies to explore new reaction pathways and improve existing synthetic methods.