Used primarily as an intermediate in the synthesis of parabens, which are widely used as preservatives in cosmetics, pharmaceuticals, and food products due to their antimicrobial properties. Also serves as a building block in the production of liquid crystal polymers used in high-performance plastics and electronic materials. Employed in the manufacture of dyes and as a starting material for certain pharmaceuticals, including some anti-inflammatory and hormone-related drugs. Its derivatives are explored in the development of biodegradable polymers and green chemistry applications.