This compound is primarily utilized in the field of organic synthesis and pharmaceutical research. It serves as a key intermediate in the development of various bioactive molecules, particularly those with antioxidant properties. Its structure, featuring multiple hydroxyl groups, makes it valuable in the synthesis of polyphenolic compounds, which are often explored for their potential therapeutic effects, including anti-inflammatory and neuroprotective activities. Additionally, it is studied for its role in the preparation of advanced materials, such as polymers and coatings, where its phenolic structure can enhance stability and performance.