This chemical is primarily utilized as a stabilizer and antioxidant in various industrial applications, particularly in the production of polymers and plastics. It helps prevent degradation caused by heat, light, and oxidation, thereby extending the lifespan of these materials. Additionally, it is employed in the formulation of lubricants and fuels to enhance their stability and performance under high-temperature conditions. Its effectiveness in inhibiting oxidative processes makes it valuable in maintaining the integrity of synthetic materials and preventing premature aging or breakdown.