This chemical is primarily utilized in asymmetric synthesis and catalysis due to its chiral binaphthyl structure. It serves as a key ligand in transition metal-catalyzed reactions, enabling the production of enantiomerically pure compounds, which are crucial in pharmaceuticals and fine chemicals. Its phenanthrenyl groups enhance steric and electronic properties, improving selectivity and efficiency in catalytic processes. Additionally, it is employed in the development of chiral materials and sensors, leveraging its unique optical properties for applications in molecular recognition and detection.