Used primarily in organic synthesis, it serves as a key intermediate in the production of pharmaceuticals and agrochemicals. Its structure allows for the creation of complex molecules, particularly in the development of antibacterial and antifungal agents. Additionally, it is utilized in the synthesis of dyes and pigments due to its ability to form stable aromatic compounds. In research, it is employed as a building block for studying chemical reactions involving phenolic compounds. Its applications also extend to the field of material science, where it is used in the development of polymers and resins with specific properties.