This compound is primarily utilized in the synthesis of various pharmaceutical agents due to its antioxidant properties. It serves as a key intermediate in the development of drugs aimed at combating oxidative stress-related diseases. Additionally, it is employed in the production of cosmetic formulations, where it helps in stabilizing products against degradation caused by exposure to air and light. Its role in organic synthesis is also notable, particularly in the preparation of more complex organic molecules used in research and industrial applications.