Used as an intermediate in organic synthesis, particularly in the preparation of dyes and pharmaceuticals. It participates in complexation reactions with metal ions, making it useful in analytical chemistry for metal detection and separation. Also found application in the development of UV-absorbing compounds for use in sunscreens and protective coatings. Its polyhydroxy structure allows it to act as an antioxidant in specialized systems, and it may serve as a building block in the synthesis of functional materials and specialty polymers.