Used primarily as a stabilizer in polymers and plastics to prevent degradation caused by heat, light, or oxidation. It enhances the durability and lifespan of materials like polyethylene and polypropylene, making it valuable in the production of automotive parts, packaging films, and industrial components. Additionally, it serves as an intermediate in the synthesis of organic compounds, particularly in the development of dyes, pharmaceuticals, and optoelectronic materials. Its antioxidant properties also make it useful in lubricants and fuels to improve performance and reduce wear.