N-Carbobenzoxy-D-2-phenylglycine is primarily used in peptide synthesis as a protecting group for amino acids. It helps in the selective protection of the amino group during the formation of peptide bonds, ensuring that the desired sequence is achieved without unwanted side reactions. This compound is particularly valuable in the synthesis of complex peptides and proteins, where precise control over the reaction process is crucial. Additionally, it finds application in the preparation of chiral intermediates for pharmaceuticals, contributing to the development of enantiomerically pure drugs. Its role in organic synthesis extends to the creation of biologically active molecules, making it a key reagent in medicinal chemistry and biochemical research.