This compound is primarily utilized in the synthesis of antioxidants and stabilizers for various industrial applications. It is particularly effective in protecting polymers and plastics from oxidative degradation, thereby extending their lifespan and maintaining their structural integrity. In the pharmaceutical industry, it serves as an intermediate in the production of certain drugs, contributing to their stability and efficacy. Additionally, it finds use in the formulation of personal care products, where it acts as a preservative to prevent the breakdown of active ingredients. Its antioxidant properties also make it valuable in the food industry, where it helps in preserving the freshness and quality of food products by inhibiting lipid oxidation.