This chemical is primarily used as an intermediate in the synthesis of more complex organic compounds. It finds application in the production of antioxidants and stabilizers, particularly in the polymer and plastics industry, where it helps prevent degradation caused by heat and oxidation. Additionally, it is utilized in the development of UV absorbers for coatings and personal care products, enhancing their durability and performance under sunlight exposure. Its role in pharmaceutical research is also notable, as it serves as a building block for creating bioactive molecules with potential therapeutic properties.