[3][4] It is a common canopy tree in rainforests 50–500 meters above sea level at sites with more than 2500 mm (98.5 in) rainfall per year and temperatures from 23 to 27 °C or 73 to 80 °F.

Peltogyne purpurea was included in the Red Book of Plants of Colombia: Endangered Timber Species, under the IUCN designation of Vulnerable (VU).

[5] Purpleheart wood is popular for manufacturing floors, furniture, structural elements, and architectural finishes due to its physical and mechanical properties.

Slow feed rates and hardened cutters are suggested, because purpleheart exudes a gummy resin when heated by dull tools.

[5] Peltogyne purpurea is a recognizable, coveted and highly exploited species; however, it is poorly studied and the only research that has been undertaken is in Costa Rica.

[8] In Costa Rica and Panama, purpleheart wood is an economically valuable tree, however its harvest is prohibited by law.

[4] The wood is commonly used for general carpentry, interior and exterior decoration, furniture, cabinet work, flooring, marquetry, stairways, wooden boat building & restoration, and luxury coffins.