Used primarily in the production of resins, particularly phenolic resins, which are essential in manufacturing coatings, adhesives, and laminates. It serves as a key intermediate in synthesizing compounds for the pharmaceutical industry, contributing to the development of various drugs. Additionally, it finds application in the creation of specialty chemicals used in personal care products, enhancing their stability and performance. Its role in industrial processes also extends to being a crosslinking agent in polymer chemistry, improving material durability and resistance.