This chemical is primarily utilized as an intermediate in the synthesis of various organic compounds, particularly in the production of antioxidants and stabilizers for polymers and plastics. Its ability to inhibit oxidation makes it valuable in extending the lifespan of materials exposed to heat, light, or mechanical stress. Additionally, it is employed in the development of specialty chemicals used in the coatings and adhesives industries, where it enhances performance and durability. In agrochemical research, it serves as a building block for creating compounds with potential pesticidal or herbicidal properties. Its versatility in chemical reactions also makes it a useful component in pharmaceutical research for designing novel drug molecules.