Used primarily as an intermediate in the synthesis of high-performance polymers and resins, this compound contributes to the production of heat-resistant and chemically stable materials. It is employed in the manufacturing of specialty plastics, including polyether sulfones and polyarylates, which are utilized in aerospace, electronics, and medical devices due to their durability and thermal stability. Additionally, it serves as a building block in the development of certain antioxidants and stabilizers for industrial applications. Its bifunctional hydroxyl groups enable cross-linking in polymer chains, enhancing mechanical strength and resistance to degradation.