Widely used as a catalyst in organic synthesis, particularly in esterification and alkylation reactions, due to its strong Lewis acid properties. It is also employed in the production of pharmaceuticals and agrochemicals, where it aids in the formation of complex molecules. In polymer chemistry, it serves as an effective initiator for cationic polymerization, enabling the creation of high-performance materials. Additionally, it is utilized in electrolytes for lithium-ion batteries, enhancing conductivity and stability. Its versatility and efficiency make it a valuable reagent in various industrial and research applications.