Used primarily in the synthesis of various organic compounds, this chemical serves as a key intermediate in the production of pharmaceuticals and agrochemicals. Its structure allows it to participate in reactions that form more complex molecules, particularly those requiring a benzene ring with hydroxyl groups. In the pharmaceutical industry, it is utilized in the development of drugs that target specific enzymes or receptors, leveraging its ability to interact with biological systems. Additionally, it finds application in the creation of specialty chemicals, including dyes and pigments, where its aromatic properties contribute to color stability and intensity. In research, it is often employed as a building block for studying chemical reactions and developing new synthetic pathways.