This chemical is primarily used as an antioxidant in various industrial applications. It helps prevent the degradation of materials caused by oxidation, particularly in polymers, plastics, and rubber products. By inhibiting oxidative processes, it extends the lifespan and maintains the performance of these materials, especially under high-temperature conditions or exposure to UV light. It is also utilized in the stabilization of lubricants and fuels, ensuring their efficiency and longevity during storage and use. Additionally, it finds application in the production of adhesives and coatings, where it enhances durability and resistance to environmental factors.