This chemical is primarily utilized in advanced organic synthesis, particularly in catalytic processes. It serves as a highly efficient catalyst in olefin metathesis reactions, which are crucial for constructing complex carbon-carbon double bonds in organic molecules. Its application is prominent in the pharmaceutical industry, where it aids in the synthesis of active pharmaceutical ingredients (APIs) and fine chemicals. Additionally, it is employed in polymer chemistry to develop specialized materials with unique properties, such as high thermal stability and mechanical strength. Its robust structure and precise catalytic activity make it valuable in research and industrial settings for creating innovative compounds and materials.