Used primarily in organic synthesis, it serves as a key intermediate in the production of various pharmaceuticals, including drugs for cardiovascular and neurological disorders. It is also employed in the synthesis of antioxidants and flavoring agents due to its phenolic structure. In the field of material science, it is utilized to develop polymers and resins with enhanced properties. Additionally, it finds application in the preparation of dyes and pigments, contributing to vibrant and stable colorants. Its role in agricultural chemicals includes the formulation of pesticides and herbicides, aiding in crop protection.