Used as an intermediate in the synthesis of pharmaceuticals, particularly in the production of certain analgesics and anti-inflammatory drugs. It is also employed in the fragrance industry to create aromatic compounds due to its pleasant, mild odor. Additionally, it serves as a precursor in the manufacture of agrochemicals, including pesticides and herbicides. Its antioxidant properties make it useful in stabilizing certain industrial products, such as polymers and resins, to prevent degradation.