This chemical is primarily utilized as an extractant in the separation and purification of metal ions, particularly in hydrometallurgical processes. Its ability to selectively bind with specific metals makes it valuable in the recovery of rare earth elements and other valuable metals from complex mixtures. Additionally, it finds application in the development of advanced materials, where its unique properties contribute to the synthesis of specialized polymers and coatings. Its role in facilitating efficient metal extraction and material innovation highlights its importance in industrial and research settings.