Used as a plasticizer and stabilizer in polymer formulations, particularly in polyvinyl chloride (PVC) and other plastics, to improve flexibility, durability, and resistance to heat and UV degradation. It is also employed in specialty lubricants and hydraulic fluids due to its thermal stability and low volatility. Additionally, it finds use in the synthesis of organophosphorus compounds for agrochemicals and flame retardants. Its hydrophobic nature makes it suitable for applications requiring water resistance.