Used as an intermediate in the synthesis of nonsteroidal anti-inflammatory drugs (NSAIDs), particularly in the production of ibuprofen derivatives. It serves as a key building block in pharmaceutical chemistry due to its aromatic and alcohol functional groups, enabling various chemical transformations. Its structure allows for esterification and oxidation reactions, making it valuable in creating active pharmaceutical ingredients and analogs with improved metabolic stability. Also employed in the development of fragrances and flavoring agents owing to its aromatic character and moderate volatility.