This chemical is primarily used as a stabilizing agent in various industrial applications, particularly in the formulation of lubricants and hydraulic fluids. It helps improve the thermal and oxidative stability of these fluids, ensuring they perform effectively under high-temperature and high-pressure conditions. Additionally, it is employed as a crosslinking agent in the production of certain polymers, enhancing their mechanical properties and durability. In the electronics industry, it serves as a component in electrolytes for lithium-ion batteries, contributing to improved conductivity and battery performance. Its ability to act as a flame retardant also makes it valuable in the manufacturing of fire-resistant materials.