This chemical is primarily used as a phase transfer catalyst in organic synthesis, facilitating the movement of reactants between immiscible phases, such as aqueous and organic layers. It is particularly effective in reactions where the transfer of ions or molecules is required to enhance reaction rates or yields. Additionally, it finds application in the preparation of specialty chemicals, including pharmaceuticals and agrochemicals, where its ability to stabilize intermediates or transition states is beneficial. Its solubility in both polar and non-polar solvents makes it versatile in various industrial processes.