This chemical is primarily utilized as an intermediate in the synthesis of antioxidants, particularly in the production of polymer stabilizers. It plays a crucial role in enhancing the durability and longevity of plastics by preventing oxidative degradation. Additionally, it is employed in the formulation of lubricants and fuels to improve their stability under high-temperature conditions. Its ability to act as a radical scavenger makes it valuable in industrial applications where materials are exposed to harsh environments, ensuring extended performance and reduced maintenance requirements.