Used primarily in organic synthesis, it serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its reactive nitrile and hydroxymethyl groups make it valuable for constructing complex molecules. It is also employed in the development of dyes and pigments due to its ability to form stable aromatic compounds. Additionally, it finds use in the manufacture of specialty chemicals, including corrosion inhibitors and polymer additives. Its versatility in chemical reactions makes it a useful building block in research and industrial applications.