This chemical is primarily utilized as a chelating agent due to its ability to form stable complexes with metal ions. It is often employed in biochemical research for studying metal ion interactions in biological systems. Additionally, it finds application in industrial processes where metal ion sequestration is necessary, such as in water treatment to remove heavy metals. Its structure allows it to act as a crosslinking agent in polymer chemistry, enhancing material properties. In analytical chemistry, it is used to develop sensors and assays for detecting metal ions with high specificity.