This chemical is primarily utilized as a stabilizer and antioxidant in various industrial applications, particularly in the polymer and rubber industries. It helps to prevent degradation caused by heat, light, and oxidation, thereby extending the lifespan of materials such as plastics and elastomers. Additionally, it is employed in the formulation of lubricants and fuels to enhance their stability under high-temperature conditions. Its ability to scavenge free radicals makes it valuable in protecting sensitive compounds from oxidative damage, ensuring consistent performance in demanding environments.