Used as a key building block in polymer chemistry, particularly in the synthesis of liquid crystalline polyesters and polyamides. Its rigid biphenyl structure contributes to high thermal stability and mechanical strength in the resulting polymers, making them suitable for high-performance engineering plastics. Also employed in the preparation of specialty resins and optical materials due to its ability to promote molecular rigidity and enhance glass transition temperatures. Additionally, serves as an intermediate in the development of pharmaceuticals and agrochemicals where a stable, aromatic diol framework is required.