Used as an intermediate in the synthesis of pharmaceuticals and fine chemicals, particularly in the development of anti-inflammatory and antimicrobial agents. Its phenolic structure with hydroxymethyl and methyl groups enhances reactivity for esterification and etherification, making it valuable in creating bioactive molecules. Also employed in the production of antioxidants and stabilizers for polymers and resins due to its ability to scavenge free radicals. Its derivatives are explored in agrochemical formulations for improved efficacy and stability.