Used as an intermediate in organic synthesis, particularly in the preparation of UV-absorbing compounds for sunscreens and cosmetic formulations. Its structure allows for effective absorption of ultraviolet light, making it valuable in enhancing photostability of active ingredients. Also employed in the development of specialty polymers and coatings where light resistance and thermal stability are required. Additionally, it serves as a building block in synthesizing certain pharmaceuticals and agrochemicals due to its reactive hydroxyl and ester functional groups.