Used in the synthesis of pharmaceuticals and fine chemicals, particularly as an intermediate in the production of beta-blockers and other cardiovascular drugs. It also serves as a building block in the preparation of specialty polymers and resins, contributing to improved thermal and chemical resistance. Its phenolic structure makes it suitable for antioxidant applications and as a precursor in the development of UV stabilizers for coatings and plastics. Additionally, it finds use in the formulation of certain agrochemicals and in research settings for organic synthesis.