Primarily used as a reagent in organic synthesis, it facilitates the formation of ylides, which are crucial intermediates in Wittig reactions. These reactions are widely employed to synthesize alkenes from aldehydes or ketones, making it valuable in the production of pharmaceuticals, agrochemicals, and fine chemicals. It also serves as a phase-transfer catalyst in certain reactions, enhancing the efficiency of processes involving immiscible reactants. Additionally, it finds application in the preparation of ionic liquids and as a stabilizer in polymer chemistry. Its role in generating reactive intermediates makes it a key component in research and industrial chemical processes.