Used as an intermediate in organic synthesis, particularly in the production of UV absorbers and photostabilizers for polymers and coatings. Its hydroxyl groups allow for esterification or etherification, making it useful in developing specialty chemicals for cosmetic formulations and pharmaceuticals. Also employed in the manufacture of plasticizers to improve flexibility and durability of plastics. Its aromatic structure with polar functional groups contributes to solubility and stability in various solvent systems.