What are the main uses of 1-(4-Hydroxyphenyl)-1-propanone (CAS: 70-70-2)?

1-(4-Hydroxyphenyl)-1-propanone is primarily used in the pharmaceutical industry as an intermediate in the synthesis of drugs. It is also employed in research for developing new compounds and in industrial applications for chemical manufacturing. Its utility in creating derivatives makes it valuable in the production of analgesics and antipsychotics.