Used primarily as an antioxidant in industrial applications, it helps prevent the degradation of materials exposed to oxidative environments. In the petroleum industry, it is employed to stabilize fuels and lubricants, extending their shelf life and maintaining performance under high-temperature conditions. It also finds use in the production of ceramics and glass, where it acts as a colorant and enhances thermal stability. Additionally, it serves as a catalyst in certain chemical reactions, particularly in oxidation processes, due to its ability to facilitate electron transfer. Its role in corrosion inhibition makes it valuable in metal treatment processes, protecting surfaces from rust and wear.