Used as an intermediate in organic synthesis, particularly in the preparation of natural product analogs and bioactive molecules. Its functional groups allow for selective modifications, making it valuable in pharmaceutical research for developing compounds with antioxidant, anti-inflammatory, or neuroprotective properties. Commonly employed in the synthesis of lignan derivatives and other polyphenolic structures linked to cancer and neurodegenerative disease studies. Also utilized in the development of sensors and functional materials due to its electron-donating and structural characteristics.