This chemical is primarily used in the field of analytical chemistry as a chelating agent for the extraction and determination of heavy metals. It forms stable complexes with metal ions, making it effective in environmental monitoring and water treatment processes to remove contaminants like lead, cadmium, and mercury. Additionally, it is utilized in biochemical research to study metal-protein interactions and enzyme inhibition. Its ability to bind selectively to specific metals also finds applications in industrial processes for metal recovery and purification.