This chemical is primarily utilized as a highly effective antioxidant and stabilizer in various industrial applications. It is particularly valued in the polymer and plastics industry, where it helps prevent oxidative degradation during the processing and long-term use of materials. By inhibiting the formation of free radicals, it extends the lifespan and maintains the integrity of polymers exposed to heat, light, and other environmental stressors. Additionally, it is employed in the formulation of lubricants and fuels to enhance their stability and performance under high-temperature conditions. Its robust structure and ability to scavenge reactive oxygen species make it a critical component in ensuring the durability and efficiency of a wide range of industrial products.