Triethyl phosphate (TEP) is widely used as a flame retardant in various polymers and plastics, particularly in cellulose acetate and unsaturated polyester resins. It acts by releasing phosphoric acid upon heating, which forms a protective char layer to inhibit combustion. Additionally, TEP serves as a plasticizer, improving the flexibility and workability of plastics and rubber products.

In the chemical industry, it is utilized as a solvent and intermediate in the synthesis of other organic compounds, including pesticides and pharmaceuticals. TEP is also employed as a catalyst or stabilizer in certain polymerization reactions. Furthermore, it finds application in hydraulic fluids and lubricants due to its thermal stability and low viscosity.

In the electronics sector, TEP is used as a component in electrolytes for lithium-ion batteries, enhancing their performance and safety. Its versatility across industries makes it a valuable chemical in both industrial and commercial applications.