Widely used as a ligand in homogeneous catalysis, particularly in palladium-catalyzed cross-coupling reactions such as Suzuki-Miyaura and Heck reactions. Its steric and electronic properties enhance catalyst stability and activity, leading to higher yields and selectivity in the formation of carbon-carbon bonds. Commonly employed in the synthesis of pharmaceuticals, agrochemicals, and fine chemicals where efficient catalytic systems are required. Also utilized in industrial processes due to its robustness under various reaction conditions and compatibility with a range of functional groups.