This chemical is primarily used as a stabilizer in polymer and plastic industries. It helps in enhancing the thermal stability of polymers, preventing degradation during processing and extending the material's lifespan. Additionally, it is employed in the production of high-performance coatings and adhesives, where it contributes to improved durability and resistance to environmental factors. Its antioxidant properties make it valuable in protecting materials from oxidative damage, particularly in applications exposed to heat and light.