Used as an intermediate in the synthesis of pharmaceuticals and fine chemicals, particularly in the production of non-steroidal anti-inflammatory drugs (NSAIDs) like naproxen. Its structure allows for selective functionalization in organic reactions, making it valuable in building complex aromatic compounds. Also employed in the development of liquid crystals and organic semiconductors due to its stable aromatic framework and electron-donating properties. Commonly utilized in cross-coupling reactions such as Suzuki and Heck reactions for forming carbon-carbon bonds in advanced synthetic pathways.