This chemical is primarily used as an antioxidant and stabilizer in various industrial applications. It is commonly added to polymers, plastics, and synthetic rubbers to prevent degradation caused by heat, light, and oxidation during processing and storage. By inhibiting the formation of free radicals, it helps extend the lifespan and maintain the physical properties of these materials. Additionally, it is utilized in lubricants and greases to enhance their thermal stability and prevent oxidation, ensuring smoother performance in machinery and engines. Its effectiveness in protecting against oxidative damage makes it a valuable component in the production of durable and high-performance materials.