Used primarily in the production of UV absorbers for plastics and coatings to enhance their resistance to sunlight and prevent degradation. It is also employed in the formulation of sunscreens, where it helps protect the skin from harmful ultraviolet rays. Additionally, it serves as an intermediate in the synthesis of various organic compounds, including pharmaceuticals and dyes, due to its reactive hydroxyl groups. Its ability to stabilize materials against UV-induced damage makes it valuable in industries requiring durable and long-lasting products.