This character is a Math Symbol and is commonly used, that is, in no specific script. The character is also known as included in set.
The glyph is not a composition. Its width in East Asian texts is determined by its context. It can be displayed wide or narrow. In bidirectional text it acts as Other Neutral. When changing direction it is mirrored into Superset Of. If its East Asian Width is “narrow”, U+2282 forms a word with similar characters, which prevents a line break inside it. Otherwise it allows line breaks around it, except in some numeric contexts. The glyph can be confused with one other glyph.
The CLDR project calls this character “subset of” for use in screen reading software. It assigns these additional labels, e.g. for search in emoji pickers: set, subset.
The Wikipedia has the following information about this codepoint:
In mathematics, a set A is a subset of a set B if all elements of A are also elements of B; B is then a superset of A. It is possible for A and B to be equal; if they are unequal, then A is a proper subset of B. The relationship of one set being a subset of another is called inclusion (or sometimes containment). A is a subset of B may also be expressed as B includes (or contains) A or A is included (or contained) in B. A k-subset is a subset with k elements.
The subset relation defines a partial order on sets. In fact, the subsets of a given set form a Boolean algebra under the subset relation, in which the join and meet are given by intersection and union, and the subset relation itself is the Boolean inclusion relation.