This chemical is primarily used as a ligand in organometallic chemistry and catalysis. It plays a significant role in facilitating various transition metal-catalyzed reactions, including cross-coupling reactions, hydrogenation, and hydroformylation. Its sterically bulky structure enhances the stability and reactivity of metal complexes, making it valuable in the synthesis of fine chemicals, pharmaceuticals, and polymers. Additionally, it is employed in the development of advanced materials and in research focused on understanding catalytic mechanisms.