This chemical is primarily utilized as a flame retardant in various polymer systems, particularly in thermoplastics and thermosetting resins. Its phosphorus-based structure makes it effective in reducing flammability by promoting char formation and limiting the release of combustible gases during thermal decomposition. It is also employed in the production of fire-resistant coatings and textiles, where it enhances the material's ability to withstand high temperatures and prevent ignition. Additionally, it finds use in the synthesis of specialty chemicals, including intermediates for pharmaceuticals and agrochemicals, due to its unique reactivity and stability.