Used primarily as a corrosion inhibitor in metalworking fluids and coolants, it effectively protects metals like copper and its alloys from tarnishing and degradation. It is also employed in the synthesis of pharmaceuticals and agrochemicals, serving as a key intermediate in the production of various active compounds. Additionally, it finds application in the stabilization of polymers and plastics, enhancing their resistance to thermal and oxidative degradation. In water treatment, it helps prevent scale formation and corrosion in industrial systems. Its versatility makes it valuable in both industrial and chemical manufacturing processes.