This chemical is primarily utilized as a stabilizer and antioxidant in polymers, plastics, and rubber to enhance their resistance to degradation caused by heat, light, and UV radiation. It prevents the formation of free radicals that can lead to material breakdown and extends the service life of products. Additionally, it is employed in the production of lubricants to increase stability under harsh conditions. Furthermore, it is used in the synthesis of advanced organic compounds, particularly in the development of ligands for catalytic systems. Its bulky structure makes it useful in creating sterically hindered environments, which can improve selectivity in certain chemical reactions.