This chemical is primarily used as a stabilizer in the production of polymers, particularly in the manufacture of plastics and rubber. It helps to prevent degradation caused by heat, light, and oxidation, thereby extending the lifespan of these materials. Additionally, it is employed in the formulation of lubricants and fuels to enhance their stability and performance under high temperatures. In the coatings industry, it serves as an additive to improve the durability and resistance of paints and varnishes to environmental factors. Its application in these areas ensures the longevity and reliability of various industrial and consumer products.