This chemical is primarily used in the synthesis of organic compounds, particularly in the production of specialty chemicals and polymers. It serves as a key intermediate in the manufacture of liquid crystals, which are essential components in display technologies such as LCD screens. Additionally, it is utilized in the development of high-performance resins and coatings, providing enhanced durability and resistance to environmental factors. Its antioxidant properties also make it valuable in stabilizing certain industrial materials, preventing degradation caused by oxidation. In the pharmaceutical industry, it is explored for its potential in creating bioactive molecules, contributing to the development of new therapeutic agents.