Used as an intermediate in the synthesis of pharmaceuticals, particularly in the development of active pharmaceutical ingredients (APIs) with central nervous system activity. It serves in the preparation of compounds with potential antipsychotic, antidepressant, or antihistaminic properties due to the piperazine moiety. Its phenolic structure allows for easy functionalization, making it valuable in medicinal chemistry for constructing drug-like molecules. Also employed in the production of functionalized polymers and specialty chemicals where controlled reactivity and solubility are required.