This compound is primarily utilized in the synthesis of specialty chemicals and intermediates, particularly in the production of antioxidants and stabilizers for polymers and plastics. Its structure allows it to act as an effective scavenger of free radicals, enhancing the durability and lifespan of materials exposed to oxidative stress. Additionally, it finds application in the formulation of high-performance lubricants, where it contributes to thermal stability and resistance to degradation. In the pharmaceutical industry, it serves as a precursor in the development of certain active pharmaceutical ingredients (APIs) due to its functional groups that facilitate further chemical modifications. Its use in agrochemicals is also notable, where it aids in the creation of compounds with improved efficacy and stability.