Phenanthren-2-ol is primarily used in research settings due to its polycyclic aromatic structure. It serves as a key intermediate in the synthesis of more complex organic compounds, including pharmaceuticals and biologically active molecules. Its hydroxyl group allows for functionalization, making it useful in developing dyes, fluorescent probes, and optoelectronic materials. It is also employed in studies related to aromatic metabolism and environmental degradation of polycyclic aromatic hydrocarbons (PAHs), helping assess toxicity and bioremediation potential. Additionally, derivatives of Phenanthren-2-ol show promise in medicinal chemistry, particularly in the design of compounds with anti-inflammatory or anticancer properties.