Used as a catalyst in organic synthesis, particularly in esterification and transesterification reactions. It facilitates the formation of esters under mild conditions, making it valuable in pharmaceutical and fine chemical manufacturing. Also employed in the preparation of fluorinated compounds due to the influence of trifluoroacetate groups. Its hydrated form offers improved stability and handling in air-sensitive reactions. Additionally, it serves as a reagent in Lewis acid-catalyzed reactions, including Diels-Alder and Friedel-Crafts acylations, where zinc acts as a moderate Lewis acid to activate substrates.