Used primarily as an intermediate in the synthesis of pharmaceuticals, especially in the production of analgesic and anti-inflammatory agents. It serves as a building block in the development of central nervous system (CNS) active compounds due to its structural compatibility with bioactive molecules. Its amine and alcohol functional groups allow for easy modification, making it valuable in medicinal chemistry for creating drug candidates. Also utilized in the preparation of specialty resins and functional polymers where controlled polarity and reactivity are required.