Used as an intermediate in organic synthesis, particularly in the pharmaceutical industry for the preparation of active pharmaceutical ingredients (APIs). It serves as a building block in the production of anti-inflammatory and analgesic compounds due to its functional groups that allow for further chemical modifications. Also utilized in the synthesis of certain agrochemicals and UV stabilizers for polymers. Its reactivity makes it valuable in forming complex aromatic structures, such as flavonoids and coumarins, through condensation and substitution reactions.