Used as a key reagent in organic synthesis, particularly in the preparation of phosphonate-based compounds that serve as intermediates in pharmaceuticals and agrochemicals. It plays an important role in the synthesis of vinyl phosphonates through alkyne metathesis or palladium-catalyzed coupling reactions. These derivatives are valuable in the development of enzyme inhibitors and bioactive molecules due to their ability to mimic phosphate esters in metabolic pathways. Also utilized in materials science for constructing functionalized polymers and flame retardants owing to the phosphorus content, which enhances thermal stability and fire resistance.