Used as a key intermediate in the synthesis of liquid crystal materials for display technologies. Its rigid biphenyl structure and hydroxyl functional groups make it ideal for polymerization reactions, especially in producing high-performance engineering plastics and polyesters with enhanced thermal stability. Also employed in chiral resolution processes due to its ability to form diastereomeric complexes. Additionally, serves as a building block in pharmaceuticals and agrochemicals where aromatic diols are required for molecular complexity.