Used as an extractant in hydrometallurgy for separation and recovery of rare earth elements and actinides from aqueous solutions. Its selective binding properties make it effective in solvent extraction processes, particularly in nuclear fuel reprocessing and recycling of electronic waste. Also employed in the formulation of corrosion inhibitors and lubricant additives due to its ability to form stable complexes with metal surfaces. Shows potential in catalysis and as a modifier in specialty chemical synthesis where controlled hydrophobicity and acid functionality are required.