Used primarily as an intermediate in the synthesis of various chemical compounds, particularly in the production of antioxidants and stabilizers for polymers. It plays a crucial role in enhancing the durability and lifespan of plastics by preventing degradation caused by heat and oxidation. Additionally, it finds application in the development of dyes and pigments, contributing to the coloration of materials in industries such as textiles and coatings. Its chemical structure makes it valuable in research and development for creating specialized organic molecules with tailored properties.