Used primarily as an intermediate in organic synthesis, this compound is valuable in the production of specialty chemicals. It finds application in the development of dyes, pigments, and pharmaceuticals, where its sulfonyl and hydroxyl groups contribute to reactivity and solubility. Additionally, it is employed in the formulation of surfactants and detergents due to its ability to enhance wetting and emulsifying properties. In industrial processes, it serves as a solvent or additive in coatings and adhesives, improving performance characteristics. Its role in polymer modification is also notable, where it aids in enhancing material properties such as flexibility and durability.