Used as an intermediate in the synthesis of pharmaceuticals and bioactive compounds, particularly in the development of hormone modulators and anti-inflammatory agents. Its structure allows for easy modification in organic synthesis, making it valuable in creating ester and ether derivatives for drug research. Also employed in the preparation of specialty polymers and functional materials where controlled hydrophobicity and ester linkage stability are required. Its phenolic and aliphatic components enable tunable reactivity in cross-coupling reactions and enzymatic transformations.