Used primarily as a phase transfer catalyst in organic synthesis, facilitating reactions between compounds in different phases. It enhances the efficiency of nucleophilic substitution reactions, particularly in the synthesis of pharmaceuticals and fine chemicals. Also employed in the preparation of ionic liquids, which are utilized in various industrial applications, including electrochemistry and material science. Additionally, it serves as a stabilizer in polymer production, improving the properties of the final product. Its role in promoting specific chemical transformations makes it valuable in research and industrial processes.