Bis(cyclohexanone)oxalyldihydrazone is primarily used as a chelating agent in analytical chemistry for the spectrophotometric detection and quantification of metal ions, such as palladium, copper, and nickel, in environmental, industrial, and geological samples. It forms colored complexes with these metals, enabling sensitive analysis via UV-Vis spectroscopy. Its chelating properties also make it valuable in coordination chemistry research and potentially in water treatment for heavy metal removal. It is a niche reagent, not typically used as a polymer stabilizer.