Used primarily as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of bronchodilators like clenbuterol and related beta-2 agonists. Its structure allows for efficient derivatization, making it valuable in developing compounds that target respiratory conditions such as asthma and chronic obstructive pulmonary disease (COPD). It is also employed in the preparation of agrochemicals and bioactive molecules where ether-linked phenolic scaffolds are required. Due to its functional groups, it serves as a building block in medicinal chemistry for coupling reactions and molecular modifications.