Used as an intermediate in the synthesis of agrochemicals and pharmaceuticals, particularly in the production of herbicides and plant growth regulators. It serves as a building block in organic reactions due to the reactive phenolic and ether functional groups, enabling the formation of more complex molecules. Also employed in the development of specialty polymers and resins where controlled reactivity and stability are required. Its structure allows for easy modification in multi-step syntheses, making it valuable in research and industrial applications.