Used primarily as an intermediate in the synthesis of pharmaceuticals and agrochemicals. It serves as a building block in the production of local anesthetics, such as certain derivatives of lidocaine and other amino amide-type anesthetics. Its aromatic structure and reactive hydroxyl group make it suitable for esterification and etherification reactions, which are key steps in drug development. Additionally, it finds use in the fragrance industry due to its pleasant, mild odor, contributing to the formulation of perfumes and scented products. The compound is also employed in the preparation of specialty polymers and as a solvent modifier in some industrial applications.