Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its structure is particularly valuable in the synthesis of flavonoids and other polyphenolic compounds, which are known for their antioxidant properties. Additionally, it finds application in the development of UV-absorbing materials, contributing to the formulation of sunscreens and protective coatings. In research, it is utilized to study reaction mechanisms and to develop new synthetic pathways for complex organic molecules.