This chemical is primarily utilized as a highly effective antioxidant and stabilizer in various polymer systems. It is particularly valuable in protecting polymers from thermal and oxidative degradation during processing and long-term use. Its application is common in the production of plastics, elastomers, and synthetic fibers, where it enhances durability and extends the material's lifespan. Additionally, it is employed in the formulation of lubricants and coatings to prevent oxidation and maintain performance under harsh conditions. Its unique structure allows it to effectively scavenge free radicals, making it a critical component in industries requiring high stability and resistance to degradation.