This chemical is primarily used as an antioxidant in various industrial applications, particularly in the stabilization of polymers and lubricants. It helps to prevent the degradation of materials caused by oxidation, thereby extending their lifespan and maintaining their performance. In the rubber and plastics industry, it is added to prevent cracking, discoloration, and loss of elasticity due to exposure to heat and oxygen. Additionally, it finds use in the formulation of greases and oils, where it enhances thermal stability and reduces the formation of sludge and deposits. Its effectiveness in inhibiting oxidative processes makes it valuable in applications requiring long-term durability and resistance to environmental stressors.