Used primarily as a chelating agent in various industrial and laboratory processes, this compound effectively binds with metal ions, particularly nickel, to stabilize or remove them from solutions. In the electroplating industry, it is employed to maintain the quality and consistency of nickel plating by controlling the availability of nickel ions in the plating bath. It also finds application in analytical chemistry for complexometric titrations, where it helps in the precise determination of metal ion concentrations. Additionally, it is utilized in wastewater treatment to sequester heavy metals, preventing their release into the environment. Its ability to form stable complexes with metals makes it valuable in preventing metal-catalyzed degradation in products like cosmetics and pharmaceuticals.