This chemical is primarily utilized in organic synthesis as a key intermediate for the production of more complex compounds. It is often employed in the pharmaceutical industry to develop active pharmaceutical ingredients (APIs) due to its versatile structure, which allows for various chemical modifications. Additionally, it serves as a building block in the synthesis of fine chemicals and specialty materials, particularly in the creation of agrochemicals and dyes. Its methoxy groups make it a valuable precursor in the development of compounds with specific electronic and steric properties, which are essential in designing molecules with targeted biological or chemical activities.