This compound is primarily utilized as a stabilizing agent in various industrial applications, particularly in the production of polymers and plastics. It helps to enhance the thermal and oxidative stability of these materials, ensuring they maintain their integrity under high temperatures and prolonged exposure to oxygen. Additionally, it is employed as a ligand in organometallic chemistry, where it facilitates catalytic processes by coordinating with metal centers. Its trifluoroethyl groups contribute to its effectiveness in these roles by providing electron-withdrawing properties, which can improve the performance of the catalysts. Furthermore, it finds use in the synthesis of specialty chemicals, where its unique structure aids in the creation of complex molecules with specific desired properties.