Used primarily as an intermediate in the synthesis of antioxidants and stabilizers for polymers, this compound plays a key role in enhancing the thermal and oxidative stability of plastics and synthetic rubbers. It is especially effective in preventing degradation during high-temperature processing. Its derivatives are found in lubricants, fuels, and elastomers where long-term stability is critical. Additionally, it serves as a building block in the production of specialty phenolic resins and UV stabilizers for coatings and adhesives.