This chemical is primarily used as an antioxidant in various industrial applications. It is commonly added to polymers, plastics, and rubber to prevent degradation caused by oxidation, thereby extending the material's lifespan. In the petroleum industry, it is utilized as a stabilizer in fuels and lubricants to inhibit the formation of gums and sludge, ensuring smoother engine performance. Additionally, it finds use in the production of adhesives and coatings, where it helps maintain the integrity and durability of the final product under exposure to heat and light. Its effectiveness in scavenging free radicals makes it a valuable component in formulations requiring long-term stability.