This chemical is primarily utilized as an intermediate in organic synthesis, particularly in the production of more complex molecules. It is often employed in the pharmaceutical industry for the development of drug candidates, where its structure can be modified to create active pharmaceutical ingredients (APIs). Additionally, it finds use in the synthesis of specialty chemicals, including polymers and surfactants, due to its bifunctional nature, which allows for further chemical modifications. Its ether and carboxylic acid groups make it a versatile building block in various chemical reactions, such as esterification and etherification processes.