Used as a catalyst in organic synthesis, particularly in oxidation reactions where selective transformation of hydrocarbons is required. It facilitates the conversion of alcohols to carbonyl compounds and is effective in promoting chlorination and oxychlorination processes. Due to its strong Lewis acidity, it also serves in the activation of halogen-containing compounds in industrial chemical manufacturing. Its reactivity makes it suitable for use in specialized reagents for vanadium-based complex formation in research laboratories.