Used as an intermediate in the synthesis of pharmaceuticals and fine chemicals, particularly in the preparation of flavonoids and other bioactive molecules. Its structure allows for further functionalization, making it valuable in organic synthesis for building complex aromatic compounds. Commonly employed in research settings for developing compounds with potential anti-inflammatory, antioxidant, or antimicrobial properties. Also utilized in the production of UV absorbers and specialty polymers due to its phenolic and carbonyl functionalities.