This chemical is primarily used as a chelating agent in various industrial and laboratory applications. It effectively binds to metal ions, making it useful in water treatment processes to remove heavy metals and prevent scale formation. In the pharmaceutical industry, it serves as an intermediate in the synthesis of certain drugs, particularly those targeting metal-related disorders. Additionally, it is employed in analytical chemistry for metal ion detection and separation techniques. Its ability to stabilize metal ions also finds use in catalysis and polymer production, enhancing the efficiency of chemical reactions.