Used primarily in research and development settings, this compound serves as a reducing agent in specialized chemical syntheses. It can participate in hydrogenation reactions, transferring hydrogen in controlled environments. Due to its reactivity and instability, it is not widely used in industrial applications but finds niche utility in materials science for the preparation of titanium-based thin films and hydride phases. It may also be studied for potential applications in hydrogen storage materials, though practical use remains limited by its sensitivity and handling challenges.