This chemical is primarily used as an antioxidant in various industrial applications. It is effective in stabilizing polymers, particularly in the production of rubber and plastics, where it helps to prevent degradation caused by heat, light, and oxidation. Additionally, it is utilized in lubricants and oils to extend their lifespan by inhibiting oxidative breakdown. Its ability to scavenge free radicals makes it valuable in protecting materials from deterioration, ensuring enhanced durability and performance in end products.