Used as a phase-transfer catalyst in organic synthesis, facilitating reactions between compounds in different phases, such as aqueous and organic layers. It is particularly effective in nucleophilic substitution reactions and the synthesis of complex organic molecules. Additionally, it serves as a key reagent in the preparation of ionic liquids and as a stabilizer in polymerization processes. Its ability to form stable phosphonium salts makes it valuable in the development of pharmaceuticals and agrochemicals.