Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and fine chemicals. Its structure makes it valuable in the development of compounds with potential biological activity, particularly in the creation of molecules targeting specific enzymes or receptors. Additionally, it is employed in research settings for the study of photophysical properties due to its aromatic and methoxy-substituted components, which can influence light absorption and emission characteristics. Its application extends to material science, where it is utilized in the synthesis of advanced polymers and coatings, contributing to the development of materials with enhanced durability and performance.