This compound is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of nonsteroidal anti-inflammatory drugs (NSAIDs). It plays a crucial role in the production of naproxen, a medication widely used to alleviate pain, reduce inflammation, and manage conditions such as arthritis, muscle aches, and migraines. Additionally, it is researched for potential applications in developing other bioactive molecules with anti-inflammatory and analgesic properties.