This compound is widely used as a reagent in organic synthesis, particularly in the Wittig reaction, where it facilitates the formation of alkenes from aldehydes or ketones. Its application is crucial in the production of complex organic molecules, including pharmaceuticals, agrochemicals, and fine chemicals. Additionally, it serves as a key intermediate in the synthesis of various biologically active compounds, enabling the creation of carbon-carbon double bonds with high selectivity and efficiency. Its role in polymer chemistry is also notable, aiding in the development of specialized polymers with tailored properties.