This chemical serves as a key intermediate in the synthesis of phosphite antioxidants, which are used as stabilizing agents in polymers and plastics to prevent degradation from heat, light, and oxidation. It is particularly valuable for producing stabilizers that enhance the durability of polyolefins like polyethylene and polypropylene, common in packaging, automotive parts, and construction materials. By enabling the creation of these phosphites, it helps maintain material integrity and extend lifespan under harsh environmental conditions. Additionally, its structure makes it useful in synthesizing specialty chemicals, ligands for catalysis, and other advanced materials with tailored performance properties.