This compound is primarily utilized in the synthesis of various organic intermediates, particularly in the development of pharmaceuticals and agrochemicals. Its structure, featuring both aromatic and ether-alcohol functional groups, makes it a versatile building block for creating complex molecules. In pharmaceutical research, it is often employed in the design of compounds with potential therapeutic effects, such as anti-inflammatory or antimicrobial agents. Additionally, it finds use in the production of specialty chemicals, including surfactants and emulsifiers, due to its amphiphilic nature. Its application in material science is also notable, where it serves as a precursor for polymers and coatings with specific desired properties.