Used as an intermediate in the synthesis of pharmaceuticals and fine chemicals, particularly in the development of estrogen receptor ligands and other bioactive molecules. It serves as a building block in organic synthesis due to the presence of both phenolic and ether functional groups, allowing for selective reactions. Commonly employed in the preparation of antioxidants, dyes, and UV absorbers. Also utilized in the production of specialty polymers and as a protecting group strategy in multi-step synthesis where controlled deprotection of the phenol is required.