This chemical is primarily used as an antioxidant and stabilizer in various industrial applications. It is commonly added to polymers, plastics, and rubber to prevent degradation caused by oxidation, heat, and light exposure. Its effectiveness in extending the lifespan of these materials makes it valuable in the production of automotive parts, cables, and other durable goods. Additionally, it is utilized in lubricants and fuels to enhance their stability and performance under high-temperature conditions. Its ability to inhibit the formation of free radicals also makes it suitable for use in adhesives and coatings, ensuring long-term durability and resistance to environmental factors.