Used primarily as a radical initiator in polymerization reactions, this compound is essential in the synthesis of polymers and copolymers. It is particularly effective in aqueous systems, making it suitable for emulsion and suspension polymerization processes. Its application extends to the production of acrylic fibers, synthetic rubbers, and various plastics. Additionally, it is employed in biomedical research for the creation of hydrogels and drug delivery systems due to its ability to generate free radicals at relatively low temperatures. In the field of coatings and adhesives, it enhances the curing process, improving the durability and performance of the final product. Its water-soluble nature also makes it a preferred choice in formulations requiring environmentally friendly solvents.