Dicyclohexylphosphine is primarily used as a ligand in organometallic chemistry, where it plays a crucial role in stabilizing metal complexes. Its bulky structure makes it particularly effective in catalytic processes, such as hydrogenation, hydroformylation, and cross-coupling reactions, where it enhances selectivity and efficiency. In the pharmaceutical industry, it is employed in the synthesis of complex organic molecules, aiding in the production of active pharmaceutical ingredients. Additionally, it finds application in material science, contributing to the development of advanced polymers and coatings. Its ability to act as a reducing agent also makes it valuable in certain chemical transformations, particularly in the reduction of metal precursors to form nanoparticles or other functional materials.