Used as an intermediate in the synthesis of resins and polymers, particularly in phenolic resin formulations where it contributes to thermal stability and cross-linking properties. It is also employed in the production of certain antioxidants and UV stabilizers for plastics and coatings. Its hydroxyl and methyl groups make it suitable for etherification and esterification reactions in agrochemical and pharmaceutical applications. Additionally, it serves as a building block in the development of specialty chemicals for adhesives and varnishes.