This compound is primarily utilized in the synthesis of organic materials and pharmaceuticals. It serves as a key intermediate in the production of various bioactive molecules, including those with potential antioxidant and anti-inflammatory properties. Additionally, it is employed in the development of UV-absorbing agents for use in sunscreens and protective coatings. Its conjugated system makes it valuable in the creation of polymers and resins with specific optical and mechanical properties. In research, it is often used to study the behavior of phenolic compounds in chemical reactions and their interactions with biological systems.