This chemical is primarily used as a highly efficient ligand in organometallic chemistry and catalysis. Its robust structure and strong electron-donating properties make it ideal for stabilizing metal complexes, particularly in transition metal-catalyzed reactions. It is widely applied in cross-coupling reactions, such as Suzuki, Heck, and Sonogashira couplings, where it enhances reaction rates and yields. Additionally, it serves as a key component in the development of N-heterocyclic carbene (NHC) catalysts, which are utilized in polymerization processes, including the synthesis of polyolefins and other advanced materials. Its stability and reactivity also make it valuable in asymmetric catalysis for producing chiral compounds in pharmaceutical and fine chemical industries.