Used primarily as an intermediate in the synthesis of various chemical compounds, including antioxidants, UV stabilizers, and agrochemicals. It is also employed in the production of phenolic resins, which are utilized in coatings, adhesives, and molding materials. In addition, it finds application in the formulation of disinfectants and preservatives due to its antimicrobial properties. Its role in industrial processes highlights its importance in enhancing the durability and stability of materials.