This chemical is widely used as a highly efficient catalyst in olefin metathesis reactions, a process crucial in organic synthesis for creating carbon-carbon double bonds. Its application is particularly significant in the production of pharmaceuticals, where it enables the synthesis of complex molecules with high precision and selectivity. Additionally, it is employed in the polymer industry to develop advanced materials with tailored properties, such as improved durability and flexibility. The catalyst’s stability and activity under various conditions make it a preferred choice for both academic research and industrial applications, facilitating the development of innovative chemical processes and products.