Diphenylzinc is primarily used as a reagent in organic synthesis, especially in the formation of carbon-carbon bonds. It serves as a source of phenyl anions in reactions where mild and selective conditions are required. One of its key applications is in the preparation of biaryl compounds through palladium-catalyzed cross-coupling reactions, offering an alternative to more traditional organometallic reagents.

It is also employed in the synthesis of functionalized aromatic compounds, where its moderate reactivity allows for better control over side reactions. Due to its sensitivity to air and moisture, it is typically handled under inert atmosphere conditions, making it suitable for use in specialized laboratory settings rather than large-scale industrial processes.

Additionally, diphenylzinc finds use in the development of new catalytic systems and in mechanistic studies to understand organozinc chemistry better. Its role in conjugate addition reactions and transmetalation processes further highlights its utility in constructing complex organic molecules.