This chemical is primarily utilized as a stabilizer in polymer materials, particularly in plastics and rubber, to prevent degradation caused by heat, light, and oxidation. It effectively extends the lifespan of these materials by inhibiting the formation of free radicals, which can lead to cracking, discoloration, or loss of mechanical properties. Additionally, it is employed in the production of coatings and adhesives, where it enhances durability and resistance to environmental stressors. Its application is also seen in the manufacturing of synthetic fibers, ensuring they maintain their integrity under harsh conditions. Overall, it plays a crucial role in improving the performance and longevity of various industrial products.