This compound is primarily utilized as a catalyst in polymerization reactions, particularly in the synthesis of polymers with specific stereochemical properties. Its ability to control the stereochemistry of the polymer chain makes it valuable in producing materials with tailored mechanical and thermal properties. Additionally, it is employed in the development of advanced coatings and adhesives, where precise control over polymer structure is essential for achieving desired performance characteristics. The compound's role in facilitating efficient and selective polymerization processes underscores its importance in materials science and industrial chemistry.