Used as a catalyst in petroleum refining processes, particularly in the reforming of naphtha to produce high-octane gasoline. It facilitates the conversion of low-octane hydrocarbons into aromatic compounds, improving fuel quality. Also employed in specialized chemical syntheses where strong oxidizing agents are required. Its high reactivity makes it suitable for oxidation of organic compounds in laboratory research. Due to its volatility and reactivity, handling requires strict environmental and safety controls.