Used as a phase-transfer catalyst in organic synthesis, facilitating reactions between compounds in different phases. It is also employed in the preparation of ylides for Wittig reactions, which are crucial for forming alkenes from aldehydes or ketones. Additionally, it serves as a reagent in the synthesis of phosphonium salts, which have applications in materials science and as ionic liquids. Its role in polymerization processes and as a stabilizer in certain chemical reactions further highlights its versatility in industrial and laboratory settings.