Used as a catalyst in various organic synthesis reactions, particularly in the production of pharmaceuticals and fine chemicals. It facilitates esterification, polymerization, and alkylation processes. In the pharmaceutical industry, it is employed to synthesize active pharmaceutical ingredients (APIs) and intermediates. It also serves as a reagent in the preparation of boron-containing compounds, which are useful in materials science and electronics. Additionally, it is utilized in the purification of certain chemicals and as a stabilizer in specific industrial processes. Its strong Lewis acid properties make it effective in promoting complex chemical transformations.