Used as a stabilizer in polymers, particularly in polyolefins such as polyethylene and polypropylene, to prevent degradation during processing and prolonged exposure to heat. It effectively chelates metal impurities that can catalyze oxidation, thereby extending the material's service life. Commonly employed in wire and cable insulation, films, and molded parts where thermal stability is critical. Also utilized as an intermediate in organic synthesis and as a ligand in certain catalytic reactions, especially in transition metal catalysis for industrial chemical processes.