This chemical is primarily used as a stabilizer and plasticizer in various industrial applications. It is commonly added to polymers and resins to enhance their flexibility, durability, and resistance to degradation under heat or UV exposure. In the production of PVC and other plastics, it helps improve processing efficiency and extends the material's lifespan. Additionally, it finds use in lubricants and coatings, where it reduces friction and enhances performance. Its ability to act as a stabilizer makes it valuable in protecting materials from oxidative and thermal breakdown, ensuring long-term reliability in demanding environments.