Used as a key intermediate in the synthesis of organophosphorus compounds, this chemical plays a crucial role in the production of flame retardants, which are widely applied in textiles, plastics, and electronics to enhance fire safety. It is also utilized in the manufacture of pesticides, contributing to effective crop protection by targeting various pests. Additionally, it serves as a reagent in organic synthesis, particularly in the preparation of phosphine ligands for catalysis in chemical reactions. Its applications extend to the pharmaceutical industry, where it aids in the development of certain drugs and active pharmaceutical ingredients.