Used as a key intermediate in the synthesis of non-steroidal anti-inflammatory drugs (NSAIDs), particularly in the development of arylacetic acid derivatives. Its bifunctional carboxylic acid structure allows for selective esterification or amidation, making it valuable in medicinal chemistry for creating prodrugs or improving pharmacokinetic properties. Also employed in polymer chemistry as a monomer for polyesters and functional resins due to its aromatic and carboxylate groups, contributing to thermal stability and cross-linking capabilities.