This chemical is primarily used as a ligand in organometallic chemistry and catalysis. It plays a significant role in facilitating various transition metal-catalyzed reactions, such as cross-coupling reactions, hydrogenation, and hydroformylation. Its steric and electronic properties make it suitable for stabilizing metal complexes and enhancing catalytic activity. Additionally, it is employed in the synthesis of pharmaceuticals and fine chemicals, where precise control over reaction pathways is essential. Its application extends to materials science, particularly in the development of advanced polymers and coordination polymers with tailored properties.