Dicyclopentylphosphine is primarily utilized as a ligand in organometallic chemistry and catalysis. It plays a significant role in the formation of metal complexes, particularly in transition metal catalysis, where it enhances the efficiency and selectivity of various chemical reactions. This compound is often employed in cross-coupling reactions, such as Suzuki and Heck couplings, which are essential in the synthesis of pharmaceuticals, agrochemicals, and fine chemicals. Additionally, its sterically demanding structure makes it valuable in stabilizing reactive intermediates and improving the performance of catalysts in asymmetric synthesis. Its application extends to polymer chemistry, where it aids in the development of advanced materials with tailored properties.