This chemical is primarily utilized in organic synthesis as a reagent for the formation of ylides, which are intermediates in various reactions, particularly the Wittig reaction. It facilitates the conversion of carbonyl compounds into alkenes, making it valuable in the synthesis of complex organic molecules, including pharmaceuticals and natural products. Additionally, it is employed in the preparation of phosphonium salts, which are useful in phase-transfer catalysis and as stabilizers in polymer chemistry. Its role in these processes contributes to advancements in drug development and material science.