This compound is primarily utilized in organic synthesis and pharmaceutical research. It serves as an intermediate in the production of various bioactive molecules, particularly those targeting inflammation and oxidative stress-related conditions. Its structure, featuring both hydroxyl and benzyloxy groups, makes it a valuable precursor for modifying and developing new compounds with potential therapeutic applications. Additionally, it is employed in the synthesis of advanced materials, such as polymers and coatings, where its aromatic and ester functionalities contribute to desired properties like stability and reactivity.