Lithium benzoate is an organolithium compound used primarily in industrial and chemical applications. It acts as a reagent and catalyst in organic synthesis reactions, particularly in the production of specialty polymers. It is also employed as a performance additive in lubricants to enhance stability under high temperatures. The compound exhibits antimicrobial properties, making it suitable as a preservative in food and pharmaceutical products. Furthermore, it serves as a corrosion inhibitor in various industrial formulations and as a component in flame-retardant materials.