Used primarily as an antioxidant and stabilizer in polymers and plastics, it helps prevent degradation caused by heat, light, and oxidation. It is also employed in the production of rubber and lubricants to enhance their longevity and performance under harsh conditions. In the field of organic synthesis, it serves as a building block for creating complex molecules, particularly in the development of dyes and pharmaceuticals. Additionally, it finds application in the stabilization of fuels and oils, ensuring their efficiency and durability over time.