Used as a catalyst in polymerization reactions, particularly in the production of polyolefins. It enhances the efficiency and control of the polymerization process. Also employed in organic synthesis as a strong, non-coordinating anion to stabilize cationic intermediates. Its application extends to the field of electrochemistry, where it serves as a component in ionic liquids for battery electrolytes. Additionally, it is utilized in the development of advanced materials, such as conductive polymers and specialty coatings.