This chemical is primarily used as a stabilizer in polymers, particularly in the production of plastics and synthetic fibers. It helps to prevent degradation caused by heat, light, and oxidation during processing and usage. Its application is common in industries manufacturing automotive parts, packaging materials, and electrical components, where it enhances the durability and lifespan of the final products. Additionally, it is effective in maintaining the color and mechanical properties of polymers exposed to harsh environmental conditions.