Used primarily in organic synthesis, it serves as a key intermediate in the production of pharmaceuticals, particularly in the synthesis of beta-blockers and other cardiovascular drugs. It is also employed in the manufacture of agrochemicals, including herbicides and pesticides. Additionally, it finds application in the synthesis of fragrances and flavoring agents due to its aromatic properties. In research, it is utilized as a building block for various chemical reactions, including the formation of complex organic molecules.