Used primarily as a key intermediate in the production of epoxy resins, which are widely applied in coatings, adhesives, and composite materials. It also serves as a stabilizer in the manufacture of polycarbonates, enhancing their thermal and mechanical properties. Additionally, it finds use in the synthesis of flame retardants, contributing to the safety of various materials. In the pharmaceutical industry, it acts as a building block for certain drug compounds. Its applications extend to the production of dyes and plasticizers, where it imparts durability and flexibility to the end products.