Used as an effective flame retardant in polymers and resins due to its ability to provide thermal stability and reduce flammability. Commonly added to engineering plastics, polyolefins, and rubber compounds to meet fire safety standards without significantly affecting mechanical properties. Also serves as a plasticizer and stabilizer in coatings and adhesives, improving flexibility and durability. In industrial applications, it functions as an anti-wear and anti-corrosion additive in lubricants and hydraulic fluids. Additionally, employed as a solvent and extractant in metal recovery and separation processes, particularly for rare earth elements.