This compound is primarily utilized in organic synthesis as a phase-transfer catalyst, facilitating the movement of reactants between immiscible phases, thus enhancing reaction rates and yields. It is particularly effective in reactions involving the transfer of anions from an aqueous phase to an organic phase. Additionally, it finds application in the preparation of phosphonium salts, which are valuable intermediates in the synthesis of various organic compounds, including pharmaceuticals and agrochemicals. Its unique structure, combining a long alkyl chain with a phosphonium group, also makes it suitable for use in surface modification and as a stabilizer in nanoparticle synthesis.