Used primarily as an intermediate in the synthesis of pharmaceuticals, dyes, and liquid crystals. It reacts readily with alcohols and amines to form esters and amides, making it valuable in constructing complex organic molecules. Commonly employed in the preparation of sunscreen agents and UV absorbers due to its ability to form stable aromatic esters that absorb ultraviolet light. Also utilized in polymer chemistry to introduce aromatic hydroxyl functionalities into macromolecules, enhancing thermal stability and mechanical properties. Its reactivity allows for efficient derivatization in fine chemical manufacturing.