Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of non-steroidal anti-inflammatory drugs (NSAIDs). It serves as a building block for bioactive molecules due to the presence of phenolic and ketone functional groups, which allow for easy modification in organic synthesis. Also employed in the development of fragrances and flavoring agents because of its aromatic character and stability. Its structure supports derivatization for use in agrochemicals and antimicrobial agents.