Used primarily as an intermediate in organic synthesis, this compound serves in the production of fragrances and flavoring agents due to its phenolic and ether functionalities. Its structure allows for easy modification, making it valuable in creating complex aromatic molecules. It is also employed in the development of certain pharmaceuticals where a substituted phenol moiety is required. Additionally, it finds use in the synthesis of specialty polymers and antioxidants, where the methoxyethyl group contributes to enhanced solubility and stability.