This chemical is primarily used in organic synthesis as a reagent for the preparation of phosphonates and phosphonic acids, which are valuable intermediates in the production of pharmaceuticals and agrochemicals. It is also employed in the synthesis of flame retardants, where its phosphorus-containing structure enhances the fire-resistant properties of materials. Additionally, it finds application in the development of ligands for catalysis, particularly in asymmetric synthesis, where it helps in creating chiral environments for selective reactions. Its role in modifying polymers to improve their thermal stability and mechanical properties is also noteworthy.