This chemical is primarily used as a catalyst in polymerization reactions, particularly in the production of polyolefins such as polyethylene and polypropylene. Its structure allows it to efficiently initiate and control the polymerization process, leading to polymers with specific desired properties like molecular weight distribution and tacticity. Additionally, it is employed in organic synthesis for creating complex molecular structures due to its ability to facilitate precise chemical transformations. Its role in catalytic systems is critical for developing advanced materials with tailored characteristics for industrial applications.