This chemical is primarily utilized as a chelating agent in various industrial and laboratory applications. It effectively binds to metal ions, making it useful in processes where metal ion sequestration is required. In analytical chemistry, it is employed to stabilize metal ions in solution, ensuring accurate measurements and preventing interference during experiments. Additionally, it finds application in water treatment systems to remove heavy metals and hardness ions, contributing to the purification of water. In the pharmaceutical industry, it is used in the formulation of certain drugs to enhance stability and efficacy by chelating metal impurities. Its ability to form stable complexes with metal ions also makes it valuable in biochemical research, particularly in studies involving metalloproteins and enzymes.